What lies ahead for GCCs in India after a pivotal year
2 weeks, 2 days ago

What lies ahead for GCCs in India after a pivotal year

Live Mint  

Until 2010, GCCs were mostly outposts of multinational corporations, providing technology and operational support to the parent company, according to Zinnov, a management consulting firm. In 2023-24, India had about 1,700 GCCs employing about 1.9 million people, up from 1,580 GCCs and 1.65 million employees a year earlier, according to Nasscom and Zinnov. GCCs also pay 12-20% more than IT services and non-tech companies for similar roles, according to a TeamLease Digital report. This year, a number of them, including Karnataka, Uttar Pradesh, Gujarat and Tamil Nadu have launched policies offering incentives to new GCCs, especially in tier-II cities.

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History of this topic

India's Entry-Level Job Market Set To Thrive With Competitive Salaries Across Sectors: Report
1 month, 1 week ago

India's Entry-Level Job Market Set To Thrive With Competitive Salaries Across Sectors: Report

ABP News  

The Software Development and Engineering domain, which involves coding, designing, and maintaining software, is set to offer competitive salaries, according to a recent report from TeamLease. TeamLease Digital's analysis highlights the changing landscape of entry-level job roles across key sectors like Global Capability Centers, IT Products & Services, and Non-Tech industries for FY 2024-25. The report also reveals that entry-level …

Chennai emerging as preferred hub for Global Corporates; city hosts 11 per cent of India’s GCC talent, says report
1 month, 1 week ago

Chennai emerging as preferred hub for Global Corporates; city hosts 11 per cent of India’s GCC talent, says report

New Indian Express  

CHENNAI: Chennai is poised to add 12–13 million square feet of premium office space between 2025 and 2026, according to a report titled ‘Tamil Nadu: The Next Frontier for Global Corporations’ by CBRE. The report highlights Chennai’s solidified position as a preferred hub for global corporates, accounting for 11% of India’s current Global Capability Centre talent. Ranked third in GCC …

Mint Primer: Why Karnataka is placing its bets on a GCC gold rush
Trending News
1 month, 2 weeks ago

Mint Primer: Why Karnataka is placing its bets on a GCC gold rush

Live Mint  

What makes GCCs important? GCCs include tech operation centres run by companies headquartered abroad, driven by India’s tech talent and cheap real estate. The rise in the number of GCCs helped create jobs at a time IT services firms, the largest recruiter of tech talent, are seeing a slowdown. The Karnataka Global Capability Centre Policy 2024-2029 aims to create an …

GCCs Dominate Indian Coworking Market, with Bengaluru Leading the Charge
2 months, 1 week ago

GCCs Dominate Indian Coworking Market, with Bengaluru Leading the Charge

Hindustan Times  

Global capability centres (GCCs) leased nearly 23,000 coworking desks between January - September period in India. The resurgence in flex seat occupancy is linked to slower economic growth in the US, prompting companies to leverage India's cost advantages and talent pool, boosting demand for flexible workspaces.

How GCCs are redefining innovation
3 months, 1 week ago

How GCCs are redefining innovation

Hindustan Times  

India's economic rise in recent decades can be attributed in part to a powerful force: Global Capability Centres. By establishing centres in tier-2 and tier-3 cities like Ahmedabad, Mysuru, Vadodara, Nashik, Tirunelveli, Bhubaneswar, and Coimbatore, GCCs are fostering balanced development across India. With projections indicating a potential revenue of $80 billion and an employee base exceeding 2 million professionals by …

How GCCs are redefining innovation
3 months, 1 week ago

How GCCs are redefining innovation

Hindustan Times  

India's economic rise in recent decades can be attributed in part to a powerful force: Global Capability Centres. Technology {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} India's vast pool of skilled professionals, estimated at over 5.4 million in the IT industry alone, initially made it a magnet for GCCs. With projections indicating a potential revenue of $80 billion and an employee base exceeding …

India's top 5 IT firms continue headcount decline for 7th straight quarter
5 months, 1 week ago

India's top 5 IT firms continue headcount decline for 7th straight quarter

Business Standard  

TCS led the ranking with total 606,998 employees, while Infosys came in second with 315,332 employees For the seventh consecutive quarter, India’s top five IT services firms have experienced a decline in headcount. The news report quoted Deepti S, business head of technology staff augmentation at staffing company Xpheno saying, “The gradual slowdown of the degrowth with the quantum of …

GCCs to Generate $121 Billion by 2030: Survey
5 months, 2 weeks ago

GCCs to Generate $121 Billion by 2030: Survey

Deccan Chronicle  

Chennai: Global capability centres are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent of India’s GDP. GCCs presently employ 32 lakh people, primarily engineers and scientists and generated a combined revenue of $46 billion in 2023 and are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent …

Karnataka to launch India’s first GCC policy soon
5 months, 3 weeks ago

Karnataka to launch India’s first GCC policy soon

New Indian Express  

BENGALURU: Karnataka will soon be launching the country’s first Global Capability Centres policy aiming at hosting more than 15% of world’s top Forbes 2000 enterprises by 2030. This will help create over one million jobs in different sectors, according to Karnataka’s GCC Landscape Report. The report was released here on Monday by Priyank Kharge, Minister for IT-BT and Rural Development …

Karnataka to unveil country’s maiden GCC policy soon
5 months, 3 weeks ago

Karnataka to unveil country’s maiden GCC policy soon

The Hindu  

Karnataka currently is home to 570 Global Capability Centres with a 2x enterprise-ready talent compared to any other location in the country. By 2030, Karnataka could host around 330 Forbes 2000 enterprises, and the trend would be driven by India’s increasing prominence as the global GCC hub, according to a report. According to the Karnataka GCC Landscape Report, Bengaluru remains …

Global capability centres and third-party IT service providers lease over 46% of office space in India
8 months, 3 weeks ago

Global capability centres and third-party IT service providers lease over 46% of office space in India

Hindustan Times  

Global firms outsourcing jobs to India have become a major occupier of office space in India with global capability centres and third-party IT service providers contributing to over 46% of office leasing in 2023, a report by Knight Frank titled Asia Pacific Horizon: Harnessing the Potential of Offshoring, has said. Global firms outsourcing jobs to India have become a major …

GCCs will Grow in Hyderabad, India: EPAM President of EU and APAC
8 months, 4 weeks ago

GCCs will Grow in Hyderabad, India: EPAM President of EU and APAC

Deccan Chronicle  

India is poised to see a substantial number of new global capability centres coming up in two years. The factors that will drive this growth include global leadership from India, evolution of service offerings, scaling up of infrastructure and innovation ecosystems and acceleration of advanced technologies like AI. Currently, Hyderabad represents its largest location in India with more than 3,000 …

Will GCCs disrupt India’s IT services industry?
1 year, 6 months ago

Will GCCs disrupt India’s IT services industry?

Live Mint  

The release of Nasscom’s GCC 4.0 report, prepared in association with global management consultancy firm Zinnov, marks a possible inflection point for the $200-billion Indian IT services industry. Nasscom clearly sees global capability centres as a big growth area that could tap India’s large, low-cost pool of technical talent. According to Nasscom’s analysis, the first wave established GCCs as outposts, …

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey
2 years, 3 months ago

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey

News 18  

As many as 57 per cent of IT professionals claim that they would not consider returning to the IT services sector in the future in a recent survey ‘Talent Exodus Report’ released by tech staffing firm, TeamLease Digital. The survey reveals that employees’ preference has changed from salary to flexibility, career growth, and value proposition. Read | In World of …

India’s GCC model, innovation, tech expertise attractions for global markets: Goldman Sachs, Kyndryl
3 years, 1 month ago

India’s GCC model, innovation, tech expertise attractions for global markets: Goldman Sachs, Kyndryl

The Hindu  

The GCC model is redefining what it means to operate as influencers and innovative thought leaders within global organisations, said John Waldron, president and chief operating officer, Goldman Sachs Group, in a virtual meet on Wednesday. In his keynote address on ‘Harnessing the Global Innovation through Capability Center Model’ at Bengaluru Technology Summit–2021, he said, “We are encouraged by the …

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom
3 years, 6 months ago

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom

Live Mint  

IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement. "The industry is upskilling more …

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound
3 years, 11 months ago

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound

News 18  

With TCS piping Accenture to become the most valuable IT company in the world, India’s IT sector has successfully negated the naysayers. Now, according to according to professional recruitment services firm Michael Page India’s ‘Talent Trends 2021 Report’, 53 per cent of companies say they are planning to increase their headcounts in 2021. According to the report, India projects an …

India Inc on recovery path; 53% companies to raise headcount in 2021: Report
3 years, 11 months ago

India Inc on recovery path; 53% companies to raise headcount in 2021: Report

India TV News  

Even as India's hiring activities declined last year due to the coronavirus pandemic, there is a sudden increase in demand with about 53 per cent of companies saying they are planning to increase their headcounts in 2021, according to a survey. The pandemic adversely impacted economies across Asia-Pacific, including India, which had entered 2020 with robust hiring activities, according to …

India’s IT and business services market to reach $13 billion by Dec 2020: IDC
4 years, 1 month ago

India’s IT and business services market to reach $13 billion by Dec 2020: IDC

Live Mint  

India's IT and business services market is expected to grow 5.4% annually to reach $13 billion by December this year, research firm IDC said. "During H1 2020, application hosting services and infrastructure hosting services continued to be higher growth markets on account of increasing adoption of cloud applications and cloud infrastructure," IDC said. "In H1 2020, the role of IT …

India’s software industry to top $80 billion by 2025: CII
5 years, 4 months ago

India’s software industry to top $80 billion by 2025: CII

Live Mint  

New Delhi: The global software product industry is currently valued at $511 billion, of which India’s share is $8.1 billion but the objective is to take India to $80-90 billion by 2025, said Dr Omkar Rai, director general, Software Technology Park of India, speaking at the 15th India Innovation Summit 2019 organised by the Confederation of Indian Industry in Bengaluru. …

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