Citigroup has shifted close to 1,000 technology jobs to its support hubs in India, Bloomberg reported. The move follows the bank’s earlier decision to cut about 3,500 positions at its technology centres in China as part of a broader global restructuring aimed at streamlining operations and strengthening risk and data management.

The development also coincides with the Trump administration’s introduction of a steep $100,000 fee on new H-1B visa applications. Analysts believe this could prompt Wall Street firms to rely more heavily on India’s global capability centres (GCCs) while creating more local hiring opportunities. Citigroup already has about 33,000 employees in India, primarily across GCCs in Bengaluru, Chennai, Pune and Mumbai.

When announcing the China job cuts, Citi had indicated that the roles would be redistributed to other tech hubs, though without naming specific destinations. Reuters earlier noted that the bank has also reduced headcount in the US, Indonesia, the Philippines and Poland as part of its worldwide overhaul. Fresh reports now suggest India could become the main destination for these roles.

India’s GCC ecosystem: India currently houses around 1,760 GCCs, with the number expected to surpass 2,000 by next year, according to Nasscom. EY projects that the sector, valued at $64 billion today, could expand to $110 billion by 2030. These centres, often functioning as offshore arms of global headquarters, contribute to advanced technology work in industries such as banking, retail, automotive and healthcare, while increasingly driving product R&D, analytics and design. Many also serve as bases for senior leaders managing global teams.