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First Barclays subsidiary outside the United Kingdom in India
The Barclays Bank plans to open a large back offices in Pune, India, with 8,000 persons working in the back offices. India reported that the Bureau will house the Barclays Global Service Centre, which will offer Barclays global commercial service. This will be the bank's second largest global branch, behind Canary Wharf in London.
Currently Barclays has back offices in three towns in India - Pune, Chennai and Noida. Recently there has been a tendency for large multinational corporations to invest more in capture centers, with many considering India to be the optimal site. Multinational corporations are opting for India's Bangalore, Hyderabad and Pune to open centers of excellence as an expansion of their businesses, not as third-party providers.
Western Union, for example, a cash handling firm, recently opened a 1,000-person Pune facility. Value Leadership Group Chief Executive Officer Peter Schumacher said, "Such centers will be much more than just cost-cutting options. "A recent Bangalore meeting with 40 caps' center executives from all over India, several US-based corporate executives and international venture capitalists highlighted that caps' from the US and Europe have made significant advances to become more innovating and improve the value curve," he said.