Deutsche Bank has announced its intention to move more jobs to India, as part of an ambitious offshoring strategy.
The German banking giant intends to shift almost half of its back-office jobs in sales and trading to Asia by the end of 2007, according to the Financial Times.
Deutsche Bank has moved a significant number of jobs to India already under its two-year offshoring programme and now plans to move more than 2,000 high-value posts to reduce costs.
The newspaper claims that more and more companies are choosing to move skilled jobs to India, as well as call centre facilities.
The Deutsche Bank move will triple its number of global markets workers in India and the company also plans to boost the number of offshore research staff.
India has a large pool of highly-educated workers and lower wages than the west. Investment bank JP Morgan Chase is moving 30% of its back-office jobs to India over two years, with an ambitious programme to recruit more than 4,000 graduates.