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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Behind the rise and rise of GCC hiring in India
Global capability centers (GCCs), once seen as mere back-office support for large corporations, have evolved into significant players in India's tech industry. Indian GCCs have showcased India's tech talent pool to global companies, leading to increased job opportunities.
As per the latest Nasscom-Zinnov India GCC landscape report, the number of GCCs set up in India has increased to 1,700 in FY24, generating $64.6 billion in export revenue and employing over 1.9 million people.
Sangeeta Gupta, senior VP and chief strategy officer at Nasscom, had told ET that the country's talent pool is the key driver of GCC growth. «GCCs are increasingly important to their parent enterprises, focusing on moving up the value chain, creating opportunities for future leadership, and enhancing their overall impact,» she said.
Attracting talent
- ET reported on November 15 that GCCs of foreign companies are expanding their base in India by tapping talent at India’s IT services companies. Data reveals that such hirings have increased 10 percentage points in two years.
- The new headcount hired from IT services by the GCCs stood at 35-41% in the fiscal year ending March 2024 (FY24) as compared with 24-30% in FY22, data sourced from mass recruitment firm Teamlease shows. In FY23, the number stood at 30-35%.
- Not just IT firms, GCCs are doubling down on campus hiring plans for the Class of 2025 across engineering institutes, business schools and general degree colleges, to build a talent pipeline for the future.
“GCCs plan to hire 50%
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