Financial centres, like delicate plants, thrive in the right conditions.
金融中心就像是娇嫩的植物一样，在适宜的环境下繁荣生长。
Those include a vibrant private sector, banks that direct capital based on the prospect for profit,
这样的环境包括一个充满活力的私营部门、根据盈利前景引导资本的银行、
analysts with direct access to companies and investors,
能够直接接触企业和投资者的分析师、
openness to foreign people and institutions, and businessfriendly, consistent laws.
对外国人和机构的开放态度以及商业友好的一致法律。
For good measure, throw in the cultural amenities that attract the sorts of employees who could choose to live anywhere.
另外还要加上文化便利设施，以此吸引各种愿意在此定居的员工。
India is not such a place. Its laws are many and perplexing; its domestic markets, inefficient and politicised.
印度并不是这样一个地方。印度法律纷繁复杂；其国内市场低效且政治化。
Though saving is unrewarding, capital is still costly for entrepreneurs.
尽管储蓄不能盈利，但对企业家来说，资本仍然很昂贵。
International firms are mostly limited to cross-border activities. It often scores badly on quality of life.
跨国公司多局限于跨境活动。印度的生活质量评分通常很低。
So it is hardly surprising that although tiny Hong Kong and Singapore are globally renowned centres of finance,
所以尽管小小的香港和新加坡是享誉全球的金融中心，
Mumbai, India's financial capital, features low on most rankings.
但印度金融之都孟买却在多数排名中排名靠后，也就不足为奇了。
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But the country is nonetheless becoming an essential hub for international banks.
但这个国家正在成为国际银行的重要枢纽。
India is often their second-largest place of employment after their home country,
印度通常是仅次于他们祖国的第二大就业市场，
and becoming ever more important for their innovation efforts.
并对于他们的创新努力而言，印度也正变得越来越重要。
India has long received other countries' outsourced jobs.
长期以来，印度一直接受其他国家的外包工作。
Some of those are unsophisticated, such as answering phones or processing forms.
其中一些很简单，比如接听电话或处理表格。
Many, however, rely on Indian universities' remarkable ability to turn out engineers in great numbers,
但很多依赖于印度各大学培养大量工程师的非凡能力
and computing firms' ability to use them to solve complex problems.
以及计算机公司雇他们解决复杂问题的能力。
Such tasks may be dismissed as "back-office". But they are at the heart of modern finance.
这些任务或许可由‘后台’替代。但它们位于现代金融的中心。
In recent years banks have become global networks that link apps on smartphones,
近些年来，银行已经成为一种全球网络，连接智能手机应用、
workstations used for sales, and sophisticated programs used to manage compliance and allocate capital.
用于销售的工作站以及用于管理遵从性和分配资金的复杂程序。
Systems that once merely updated balances now determine financial-product marketing—
曾经只是更新余额的系统现在决定了金融产品的营销—
whom to send offers to, when to increase credit limits and when to adjust charges.
向谁发出邀请、什么时候提高信用额度以及什么时候调整收费。
For banks all over the world, many such tasks are now done in India.
对于全世界的银行而言，很多这样的任务现在都在印度完成。
Even tasks that would seem to require the personal touch—a trusted adviser pitching a deal to the boss of a client firm, say
甚至是看起开需要个性化品质的任务—比如一位值得信赖的顾问向客户公司的老板推销一笔交易
—may rely on a fact-sheet compiled by an Indian research team overnight.
—可能要依靠印度研究小组连夜编写的情况说明书。
The only things that cannot be done in India are client meetings, says Tuhin Parikh, a senior executive at Blackstone.
唯一不能在印度完成的事情是客户会面，黑石集团的高级主管图希恩·帕里克表示。
Since 2014 the buy-out firm has nearly quadrupled the amount of property it leases in India to international financial firms,
自2014年起，这家收购公司在印度租赁给国际金融公司的房产数量增加了近四倍，
from 690,000 square feet (64,000 square metres) to 2.7m.
从690,000平方英尺（64,000平方米）到27,000,000平方英尺。
India's growing prowess in finance contrasts with its weakness in manufacturing.
印度金融实力的增长与其制造业的疲软形成了鲜明对比。
That is despite constant government intervention,
尽管政府在不断干预，
most recently through the "Make in India" campaign launched in 2014 by the prime minister, Narendra Modi.
最近一次是由纳伦德拉·莫迪总理在2014年发起的“印度制造”运动。
The main difference is that financial firms, unlike manufacturers, are able to avoid many of India's impediments:
主要的区别是，和制造商不同，金融公司能够避免印度的很多障碍：
a maze of permissions and tariffs that control production, laws supposed to protect low-wage workers that instead discourage hiring,
控制生产权限和关税的迷宫、本来应该保护低工资工人却阻碍了就业的法律
and wretched transport and communications networks.
以及糟糕的交通和通讯网络。
The towers that house international financial firms have dedicated phone and high-speed internet connections,
国际金融公司的办公楼装有专用电话和高速网络连接，
generators to provide backup power and global standards of fire safety.
提供备用电源的发电机以及全球消防安全标准。
Goldman Sachs's new campus in Bangalore cost $250m.
高盛集团位于班加罗尔的新办公地址耗资2.5亿美元。
Once inside, a visitor feels he has been transported to the company's New York headquarters (the same architect designed both).
走进办公楼，游客会觉得自己走进了该公司位于纽约的总部（两者都是同一个建筑师设计）。
Both have similar amenities, such as subsidised fitness and childcare facilities, as well as a medical office.
两者有着相似的便利设施，比如补贴健身、儿童托管设施以及医务室。
The number of people Goldman employs in Bangalore has risen from 291 in 2004 to 5,000.
高盛公司在班加罗尔的员工已经从2004年的291人增加至了5000人。
And India itself now provides expats, with more than 700 Indians on transfers to the firm's offices elsewhere.
而印度本身也提供外派人员，有700多名印度人被调到该公司在其他地方的办公室。
In the past few years UBS has opened three new centres in India.
在过去几年，瑞银集团在印度开了三家新中心。
The most recent, in the western city of Pune, is in a building shared by Credit Suisse and Alliance and Northern Trust,
最近开的一家是在西部城市普纳，和瑞士瑞信银行、Alliance以及北方信托银行同在一个办公楼，
a stone's throw from others occupied by Barclays and Citi. Between Mumbai and Pune UBS now has 4,000 employees.
与巴克莱银行和花旗银行的办公楼仅一步之遥。在孟买和普纳之间，UBS现拥有4000员工。
A sophisticated recruiting effort looks beyond recent graduates to tap emigres who might be tempted back home by the right opportunity.
一项复杂的招聘工作不仅着眼于毕业生，也专注于那些可能被合适机遇吸引回国的移民。
Among the recent hires are a group of women returning to work after years away to care for children or ageing parents.
最近招聘的员工中有一群女性，她们在外工作多年，为了照顾孩子或年迈的父母而回国。
Their careers have included stints at banks, rating agencies and a global pharmaceutical company,
她们的职业包括在银行、评级机构以及一家全球制药公司工作，
with expertise in risk analysis, quality control and product management.
并在风险分析、质量控制和产品管理方面的有着专业知识。
UBS's research department hires staff with expertise in cloud computing, statistics, machine learning and automation.
UBS的调研部雇佣了在云计算、数据、机器学习与自动化方面具备专业知识的员工。
They have contributed to recent reports using, for example,
他们为近期的报告使用做出贡献，例如
web-scraping tools to understand trends in the pricing of air-conditioning,
了解空调价格趋势的网页数据抽取工具、
geospatial technology to map bank branches and population density,
映现银行分行以及人口密度的地理空间技术
and analysis of corporate filings to map crossshareholdings of corporations and uncover their vulnerability to a credit crunch.
以及反映公司交叉持股并揭露它们对信贷紧缩脆弱性的公司文件分析。
UBS is perhaps unusually committed to innovation in India.
UBS或许异乎寻常地致力于在印度进行创新。
But any large bank with operations in the country is making significant efforts in similar ways.
但任何一家在该国开展业务的大型银行都在以类似的方式做出重大努力。
With hindsight, given its prowess in computer engineering, all this will look obvious.
事后看来，考虑到它在计算机工程方面的实力，这一切都将显而易见。
But bankers say they have been startled by how fast India, notwithstanding its local challenges,
但银行家表示，他们对印度的发展速度感到震惊，尽管印度面临着本土挑战，
has become an intellectual force that is now shaping their global futures.
但它已经成为一股智力力量，正在塑造他们的全球未来。
来源：经济学人
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