Morgan Stanley and other American investment banks are in talks with Indian startups to harness the potential of AI-based solutions. Sal Cucchiara, Morgan Stanley’s CIO, highlighted the rapid growth and maturity of Indian startups, noting impressive progress in their journey from product development to market pitches. The annual CTO Innovation Summit by Morgan Stanley helps foster early-stage partnerships, allowing the bank to identify promising startups and refine their AI solutions for the market.
Morgan Stanley is also expanding its technology presence in India, tapping into the country’s talent pool. The company has over 8,000 technologists across its Mumbai and Bengaluru global capability centers (GCCs), making India its second-largest tech hub outside the US. This workforce forms a third of the company’s global tech team. Key leadership figures in India include Rathnaprabha Manickavachagam, head of innovation for Asia and India, and Chakrapani Mantena, managing director for technology at global centers.
Morgan Stanley aims to grow its Indian tech workforce by 10% this year, reflecting its confidence in the region’s capabilities and the quality of talent. The bank’s Indian operations span diverse business functions, such as technology, finance, risk management, legal compliance, and fixed income research, highlighting India’s strategic role in supporting global services and innovation.
