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Multi-GCCs bring a fresh twist to India’s blockbuster GCC story
Economic Times
·
9m ago
Medial
Global corporations are increasingly choosing India as a location for their in-house centers, indicating confidence in the country's capabilities and innovation. These companies are setting up multiple capability centers in India to diversify talent and minimize location risks. The number of global capability centers is expected to grow by 8% in the next few years. The expansion is driven by the need for diverse talent and the desire to establish a geographic footprint. These centers act as core development centers, focused on niche development or managing transactions, and help ensure business continuity.
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Karnataka accounts for nearly half of India’s mid-market GCCs: Zinnov-KDEM study - The Economic Times
Economic Times
·
2d ago
Medial
The Karnataka Digital Economy Mission and consulting firm Zinnov released a report highlighting Karnataka's dominance in India’s mid-market Global Capability Centres (GCCs), with over 230 centres. The state accounts for 27% of India’s GCC ecosystem, noted for rapid growth and innovation. IT-BT minister Priyank Kharge launched the Katalyst Karnataka GCC handbook to ease business setup. Karnataka also boasts significant global engineering and cybersecurity talent, contributing to its thriving hub for AI-led innovation.
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3AI launches integrated marketplace for GCCs
Economic Times
·
1y ago
Medial
AI and analytics marketplace, 3AI, has launched GCC Sphere, an integrated marketplace and hub exclusively for Global Capability Centers (GCCs). GCC Sphere aims to cater to the consulting, services, solutions, talent, learning and development, academia, workplace, and other requirements of GCCs. The marketplace will offer curated data, AI, and analytics solutions services, and enable the building and improvement of best practices in these areas. It will also showcase select partners from the 3AI ecosystem to help GCCs on their respective journeys.
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India's GCC count rises to 1,700 in FY24, revenue up 40% at $64.6 billion: report
Economic Times
·
1y ago
Medial
India has seen a significant increase in the number of global capability centres (GCCs) established in the country, reaching 1,700 in the fiscal year 2024. These GCCs have generated $64.6 billion in export revenue and employed over 1.9 million people. The revenue growth is over 40% compared to the previous fiscal year. By 2030, the Indian GCC market is projected to reach $99-105 billion, with 2,100-2,200 GCCs and a workforce of 2.5-2.8 million. India is considered the "GCC Capital of the World" with the largest base of global technology capability centers.
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Tier-2, 3 cities make a small dent in Bengaluru's GCC growth story
Economic Times
·
11m ago
Medial
Bengaluru's share of global capabilities centers (GCCs) in India has decreased by 4.4 percentage points in the last five years, despite experiencing a 41% increase in the number of GCC units. The total number of GCC units in India increased by 62.5% during this period. This shift could be attributed to the expansion of GCCs in smaller cities and the maturity of existing centers in Bengaluru. Hyderabad, Mumbai, and Chennai saw slight changes in their GCC unit shares, while the National Capital Region (NCR) and Pune witnessed marginal increases.
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GCC measures, framework to ease expansion for foreign companies
Economic Times
·
7m ago
Medial
India is enhancing its international taxation framework for Global Capability Centres (GCCs) by introducing a block-period approach for transfer pricing, offering regulatory clarity and reducing litigation. This initiative aims to bolster GCC growth, projected to exceed $100 billion in revenue by 2030. Additionally, a national framework is being developed to promote GCCs in Tier-II cities, boosting job creation and fostering collaboration. With ongoing expansions, India's GCC sector could witness substantial growth by 2030.
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Indian talent gets senior-level roles as GCCs mushroom
Economic Times
·
1y ago
Medial
According to ETtech, the growth of Global Capability Centres (GCCs) in India has resulted in a significant increase in global and senior level roles in the country. It is estimated that the GCC sector will create around 300,000-400,000 jobs in the next 2-3 years. The transformation of business strategies of multinational companies in India has led to the shift towards more global roles within Indian GCC leadership. GCCs are now providing career paths for employees to become global workers and eventually migrate to global locations or headquarters. GCCs are also investing in upskilling and work-life balance programs to attract premium talent.
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Mid-sized IT companies bet on GCC advisory firms to score quick deal wins
Livemint
·
27d ago
Medial
Mid-sized IT companies like Mphasis and Hexaware are investing in advisory firms that assist major corporations in establishing global capability centers (GCCs) in India. This strategy aids IT firms in securing tech services and support deals with these corporations, thereby gaining faster access to new clients in India’s $68 billion GCC market, which is projected to grow to $105 billion by 2030. This approach facilitates easier market entry and quicker deal acquisitions.
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India aims to expand GCC footprint beyond top six cities for greater inclusiveness: MeitY - The Economic Times
Economic Times
·
1m ago
Medial
At the CII GCC Summit, the Ministry of Electronics and Information Technology (MeitY) highlighted plans to expand India's global capability centers (GCCs) beyond six major cities to tier-II locations for greater inclusivity. Emphasizing infrastructure improvements and innovation, MeitY is crafting a national GCC policy to potentially triple GCC numbers by 2030. This expansion aims to boost India's GDP, create employment, and foster talent through enhanced infrastructure and strategic policy frameworks.
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Hexaware acquires two SMC Squared firms for over Rs 1,000 crore in GCC space - The Economic Times
Economic Times
·
1m ago
Medial
Hexaware Technologies has acquired two SMC Squared group firms for Rs 1,029.12 crore to enhance its presence in the global capability centre (GCC) space. This acquisition aims to deliver future-proof GCC solutions by leveraging a human and digital agent-driven model. The move aligns with the growing trend for multinationals to establish GCCs in India, a market expected to exceed $100 billion by 2030. Hexaware plans to integrate SMC’s capabilities to offer end-to-end GCC solutions.
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HCLTech appoints Kiran Cherukuri as global head of GCC practice
Economic Times
·
3m ago
Medial
HCLTech has appointed Kiran Cherukuri as the global head of its Global Capability Centre (GCC) practice, tasked with expanding the company's offerings to GCCs. As GCCs increasingly deliver higher value through technological transformation, HCLTech aims to enhance its services. This strategic move is in response to the growing trend of IT companies establishing dedicated divisions to support multinational corporations in setting up GCCs in India. Cherukuri has been with HCLTech for over 14 years.
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