HSBC plans to move up the value chain by relocating new jobs to the country. The foreign bank could make India the hub for research, internal audit and training jobs even as it is awaiting revision in regulations for an inorganic growth in the country.

HSBC has more than 5,000 employees across processing centres, call centres and IT development operations in the country.

"HSBC had started with processing centres, moved on to call centre operations and now IT, system development to the rest of the world. These centres have become centres of excellence. India can move up the value chain. In 10 years, there could be hundreds of people who are involved in the training of people, internal auditors who would be based there, research and financial analysts," said Aman Mehta, chief executive officer, HongKong and Shanghai Banking Corporation.

Mehta, who will retire by the December after spending 35 years, plans to resettle in Delhi. HSBC has global processing centres in Hyderabad and Bangalore and plans to open one more in Vizag. It also has a software development centre in Pune.

On HSBC's banking operations, Mehta added that all the business of the bank are represented here.

"The growth rates in India are the highest in the world. Though the rates of growth may not be as high as some of the private sector banks like ICICI Bank, by any global yardstick 25-30 per cent is a high growth rate. This growth can be lifted as restrictions are lifted. There are restrictions on acquisitions -- a foreign bank cannot acquire more than 49 per cent or have more than 10 per cent voting rights. The normal in-organic growth is not available in the country and HSBC had to make smaller portfolio acquisitions. It has taken over retail banking services of Bank of Tokyo, Deutesche Bank and BNP Paribas," Mehta said.