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At a glance
Deliberating whether to move overseas for career advancement is both exciting and daunting. On one hand, it promises professional growth, cultural exposure and the chance to step outside your comfort zone. On the other, it demands sacrifices including distance from loved ones and navigating unfamiliar systems.
What is at stake is more than a job — it is a lifestyle, identity and career trajectory.
Could New Delhi be the next stop on your career journey? Here is a snapshot of what it can offer.
This article is part of a spotlight series featuring information for accounting and finance professionals looking to expand their career by working in popular APAC destinations.
Spotlight on New Delhi
Population: 206,230
Land area: 42.7km²
Time zone: GMT+5:30
Currency: Indian rupee
Official language: Hindi and English
Home to 1.5 billion people, India is the world’s most populous country and has one of the fastest growing economies.
Its aspiration to achieve high-income status by 2047 may be within reach, thanks in part to its rising middle-class population (which is expected to grow by more than 597 million people between 2015 and 2040), its demographic advantage (almost half of the population is aged under 25) and its position as a global leader in innovation.
India’s capital, New Delhi, is proving a magnet for multinational corporations, which is driving greater demand for skilled finance professionals.
What industries are thriving in New Delhi?
As northern India’s dominant trading and commercial centre, New Delhi is an important city in the international corporate and financial network. The Government of Delhi’s Industrial Policy 2010–21 sought to change the city’s industrial profile from low skilled to high tech, and its key industries today include information technology, telecommunications, financial services, tourism and manufacturing.
New Delhi’s finance sector is also growing in global importance. India is home to more than 1700 global capability centres (GCCs), established by multinational corporations to handle key business functions like finance and accounting, as well as information and communication technology, and cybersecurity.
An evolution of India’s business process outsourcing industry, the GCC sector generates US$64.6 billion (A$98.7 billion) in revenue and employs more than 1.9 million people. By 2030, the market is forecast to grow to a value of US$105 billion (A$160.5 billion), with the number of GCCs reaching up to 2200.
What skills are in demand in New Delhi?
The growth of India’s GCCs is fuelling demand for accounting and finance professionals. The country’s economic growth has also intensified the demand for rigorous financial reporting and compliance standards, while the rise of multinational companies operating in India requires accounting and finance professionals that are confident with global reporting frameworks.
Tech skills are also essential for accountants working in New Delhi. IDC’s India Digital Business Survey 2023 shows that approximately 60 per cent of Indian enterprises’ revenue is expected to come from digital business models in the three years to 2027.
A report from Michael Page shows organisations are increasingly seeking candidates with a blend of traditional financial skills and emerging capabilities, especially in data analytics, automation and digital literacy. Soft skills, such as communication, adaptability and collaboration are also vital as finance professionals assume more strategic and leadership roles.
What roles are in demand in New Delhi?
As its economy continues to expand, India’s finance and accounting landscape will rapidly evolve. This shift is also driven by technological advancement, regulatory changes and new business models. A Michael Page report notes key in-demand roles include:
- financial controller
- corporate finance and special projects
- project finance
- financial analyst
- business controller.
What are the salary expectations for accountants in New Delhi?
While salaries vary depending on experience and role type, data from Indeed puts the average yearly base salary for accountants in New Delhi at INR3,04,801 (A$5189), however, expats with desirable skills or experience could expect much higher salaries. The minimum salary threshold for expats set by the Indian government is US$25,000 (A$38,200) per annum.
Expats are considered tax residents in India if they stay in the country for 182 days or more during a financial year, or for 60 days or more during a financial year and 365 days or more in the preceding four financial years. If you are considered a resident for tax purposes, progressive tax rates ranging from zero to 30 per cent apply, depending on income level.
India also has tax arrangements with countries such as Australia. The Double Tax Avoidance Agreement between the two nations ensures residents of India, Australia, or both, are safe from being taxed twice — taxes paid in one country can be claimed as a credit in another country.
What might life look like living in New Delhi?
New Delhi is a modern, cosmopolitan city that buzzes with energy. “Old Delhi”, the city’s historic centre, dates back to the 16th century and is home to sites like the Red Fort and Jama Masjid, and its Chandni Chowk market is famous for street food.
Working hours tend to be longer in India, with expats working about four hours more on average in a work week than other countries. And while the Indian government has expressed commitment to advancing gender equality, labour force participation of women remains low at 41.7 per cent, well below the government’s 2047 target of 70 per cent.
Air pollution can present challenges, and the city’s traffic jams are world renowned. The city’s metro is the most commonly used mode of public transport, and the government of New Delhi is taking steps to upscale the overall public transport system and to augment the electric bus fleet.
In terms of accommodation, a one-bedroom apartment in central areas of the city may cost between INR20,000 (A$340) and INR40,000 (A$680) per month, while monthly rent for a three-bedroom apartment may range from INR35,000 (A$600) to INR70,000 (A$1200).
The redevelopment of the ceremonial boulevard Kartavya Path and the inauguration of the new Parliament House have added to the city’s global identity. The Indira Gandhi International Airport stands as a gateway that connects the city to the rest of the world. These developments make New Delhi not only India’s capital, but also a truly international city.
One member’s advice
Himanshu Sethi CPA, start-up consultant and business coach, was born and raised in New Delhi, so has had a front row seat to the city’s evolution.
“I love that even as New Delhi has modernised, it hasn’t lost its soul. The old markets, festivals and monuments still anchor the city in its heritage. It is this blend of tradition and modernity that makes living here unique.
“Working life in New Delhi is fast-paced and ambitious, but also very people-oriented. Building relationships and networks often plays just as important a role as technical expertise.
Multinationals here usually bring global standards of governance and process, but the local context — whether it is regulatory frameworks, business culture or communication styles — adds another layer that expats need to understand and adapt to.
“Outside the office, life in New Delhi is a mix of excitement and adjustment. On one hand, there’s incredible food, cultural richness and opportunity for travel. On the other hand, expats should be prepared for the practical realities such as heavy traffic and weather shifts, but once settled, it can be a very enriching experience.
“With time, most people I’ve met here end up developing a deep appreciation for the city. It has a way of surprising you.”
