While about 500 new MNCs are expected to set up captive centers in India by FY2025, exports from global captive centers (GCCs) could double from सध्या 35.9 billion to $ 58 billion and $ 81 billion, according to a new report.
Until then, the sector will employ 1.8-2 million people, which is currently more than 1.38 million, report-GCC India Landscape: 2021 and beyond! – Launched by the IT industry body, the National Association of Software and Services Companies (NASSCOM) in collaboration with global strategic advisor Zinov.
Currently, around 55,000 people are employed in Tier II cities and this is projected to increase over time.
ER&D (Engineering Research and Development) is leading the story of the growth of GCCs in India with 55% market share, as digital technologies are creating new sources of revenue for ER&D bans. The ER&D GCC Talent Pool in India is growing at 11% CAGR (FY2015-FY2021) supported by Digital Transformation.
Debjani Ghosh, President, NASSCOM, said, “In order for India to develop as a global GCC hub, GCCs, industry bodies and governments need to bridge the skills demand-supply gap and focus on upskilling / recycling.”
India is emerging as a hub for GCC to experiment with various innovations as GCCs set up technical centers here to innovate for the world.
In March, Zomato’s CEO Deepinder Goyal announced the launch of the company’s nutrition business. But things did not go as planned and the company closed the vertical on Monday. Now, the co-founder who was tasked with the launch has resigned.
More than 40 centers of excellence focus on artificial intelligence and machine learning.
In the last 3 years, more than 140 GCCs have set up bases in India, bringing the total number of GCCs to 1,430.
The availability of digital talent, the maturity of startups and the peer-GCC ecosystem and favorable strategic environment are the key drivers enabling the story of GCC growth in the country.
As GCC matures in India, cooperation is becoming more long-term and results-oriented. The role of global management is also expanding to include more senior technical leadership outside India, it said. Anandmarket