Global Capability Centers(GCC): A Thriving Industry in India

There are close to 1500 GCCs in India that contribute to about $ 35 billion in revenue of India. In addition to this, more than a hundred MNCs are planning to set up their Global Capability Centers (GCC) in India in FY22. India is deemed as the “global GCC capital” with over fifty percent stakes in the global GCC market.

In the next five years, it is projected that the revenue contribution from this industry will escalate up to $ 60-$ 80 billion. Since its inception as cost-saving centers to deliver IT and business services, GCCs in India have come a long way. They are evolving as the epicenter of innovation, transforming the parent companies.

The efficiency and impact of GCCs can be traced in various sectors like banking, healthcare, electronics, and financial services. Although this industry adopts several new ways with the changing dynamics of the market, talent is an important indicator of the transformation brought by it.

With the recent reliance on digital technologies like AI, Machine Learning, data analytics, etc. for the functioning of businesses of almost all sectors in the post-pandemic time, GCCs have been moving up the value chain. This is quite fortunate for the Indian economy as we produce about 80,000-85,000 digitally skilled graduates each year. This accounts for over 30% year-over-year growth rate in digital talent.

With a large pool of highly skilled IT talent, GCCs in India can easily find suitable talent with desired skills and align them with the objectives of the company. This makes GCC a growing industry in a country like India that can deliver the required services rapidly. Also, the fact that there are about 40,000 startups in India, out of which 12,500 are directly related to the tech sector- provides an immense opportunity for growth for GCCs in the Indian startup ecosystem.

GCCs benefit businesses in a lot many ways such as cost saving, risk mitigation, business alignment, etc. Looking at the robust growth of the GCC industry in India, it can be said that the next four to five years will witness an exceptional rise in this industry.? The current scenario of IT infrastructure and matured communication lines have eased the establishment of GCC in India more than ever before.

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