TOKYO — Japan’s MUFG Bank and Mizuho Financial Group intend to significantly expand their workforces in India this fiscal year, taking advantage of the country’s extensive pool of educated, English-speaking workers to shift more administrative and information technology operations there.

MUFG Bank now employs around 500 workers at MUFG Global Service, which launched in 2020 with around 20 staffers and is registered as MUFG Enterprise Solutions India. The bank aims to expand this figure to around 1,000 by the end of the fiscal year next March, and to around 2,000 in three years.