India has outpaced the UK in financial services recruitment, according to a KPMG report released in association with the UK-India education and research initiative (Ukieri). The report added that India is experiencing intense competition for appropriate skills and this is having as a serious constraint on the organisations. It said: "During 2006, recruitment activity in India was higher than in the UK, with many of the participating organisations recruiting over 5,000 employees, including both graduates and experienced hires."