1 min read.Updated: 16 Sep 2021, 03:17 PM ISTLivemint
For India to grow as a global hub, GCCs, industry bodies, and the government will need to bridge the skill demand-supply gap and continue to focus on upskilling/reskilling
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Bengaluru is the most sought-after destination for global capability centres (GCCs) across verticals in India, with a presence of over 31% GCCs, followed by the national capital region (NCR), according to a Nasscom report titled ‘GCC India Landscape: 2021 & Beyond.’
Over the last three years, more than 140 GCCs have set up their base in India, taking the total to over 1430. Availability of digital talent, maturity of startups, peer-GCC ecosystem, and a conducive policy environment are among the factors enabling the GCC growth story in India, the report said.
“GCCs in India not only demonstrated greater resilience in tackling the pandemic infused difficulties but also adopted antifragile business continuity plans and operation models, defining the right balance across parameters – people, IT infrastructure, and customer & employee experience for clients across the globe," said Debjani Ghosh, president, Nasscom.
“India provides the most unique ecosystem (academia, startups, service providers, industry bodies, and government) in the world, which the GCCs have collectively leveraged and developed over the years. For India to grow as a global hub, GCCs, industry bodies, and the government will need to bridge the skill demand-supply gap and continue to focus on upskilling/reskilling," Ghosh added.
Engineering and research & development (ER&D) is leading the growth story of GCCs in India with a 55% market share as digital technologies create new sources of revenue for ER&D GCCs to cater to the local customer base and develop engineering capabilities. India’s ER&D GCC talent pool has been growing at over 11% CAGR during FY2015-21 on the back of digital transformation.
As automation and data analytics lead technology penetration across industry verticals, post pandemic, India is quickly becoming a hub for experimentation of various innovations for GCCs due to the sheer scale it offers. With portfolio expansion, GCCs are setting up technical centres of excellence (CoEs) to innovate from India to the world.