Tracking India’s rise as a global GCC leader and innovation hub, with exclusive CXO insights.
With AI automation playing an increasing role in GCC operations, Verint aims to prioritise employee upskilling and reskilling at the GIC.
While US-based GCCs continue to dominate, non-US GCCs are growing at a CAGR of 6.8%, nearly twice the growth rate of US firms.
The project spanned over a year with multiple iterations.
RAG has revolutionised how AI systems process and respond to user queries by using external knowledge sources.
This measure is essential, given that over 1,580 GCCs in India employ 1.66 million people.
The campus houses over 50 multinational companies, including IBM, Target, Philips, Fidelity, and Nokia, and supports a daily workforce of over 1.50 lakh employees.
The finance minister has announced a CoE in Artificial Intelligence for Education with a total outlay of INR 500 crore.
The Indian government, in its last Economic Survey, projected that GCCs would contribute 3.5% of the total GDP by 2030.
“India is not just an extension anymore; it is an integral part of Siemens’ global innovation strategy,” CEO Pankaj Vyas said.
Hexagon’s R&D efforts span 28 industries, with divisions dedicated to geosystems, manufacturing intelligence, asset lifecycle intelligence, safety infrastructure, and autonomous solutions.
While GCCs thrive on agility and cost-efficiency, the Indian government’s recent regulatory moves could pose significant challenges for the sector.
GCCs now contribute nearly one-third of India’s IT sector, with 1,600 centres employing over 1.66 million professionals.
Before working at Lightcast, Ramachandra was working as a Director at Citi in Bengaluru for over five years.
Institutions like IIT Bombay have embedded AI courses across departments so that all students acquire a strong foundational understanding of AI.
Bengaluru leads as the top GCC hub, hosting over 285 companies and employing 560,000 professionals.
As of now, GCCs generate a net economic value of approximately $34 billion, which is expected to grow to nearly $75 to $80 billion by 2025.
“GCCs are now exploring tier-2&3 cities as potential hubs for operations and technology, driven by cost savings of up to 30%.”
It’s a new age for GCCs in India. Companies want more than just cheap labour; they’re looking for a place to build products, develop cutting-edge tech, and tap into world-class talent.
“I don’t think women are chosen intentionally. But the structure is fluid and open, which might naturally lead to more women being in these roles,” Fluence’s India head Dhanya Rajeswaran said.
While IT firms focus on nurturing future talent through long-term investments in college partnerships, GCCs are poaching experienced professionals and tapping into niche skill sets directly.
Companies prefer employees who are ready to join immediately, as setting up GCCs shouldn’t require much time.
Indian ITs are always going to collaborate with certain GCCs because most of them work with the parent company that has a GCC in India.
“When we go into these smaller cities and work with the talent there, the engagement levels are higher, and attrition levels are lower,” GlobalLogic’s MD India Piyush Jha said.
In the last five and a half years, the team size of Kimberly-Clark in Bengaluru has grown 20x.
Canadian MNC OpenText has over 6,000 employees in India, contributing to almost 25% of its global workforce.
And Bengaluru is at the helm.
As of 2023, over 80 healthcare & life science GCCs have employed more than 250k people in India.
India’s GCC sector is thriving and currently employs over 1.6 million professionals.
However, the panel at MachineCon GCC Summit 2024 stressed the importance of implementing proper security measures, ethical guidelines, and observability to ensure responsible and safe adoption.
Leaders at the MachineCon GCC Summit 2024 said Prevention, Prediction, Personalisation, Peace of Mind, and Point of Care are 5 Ps that will define healthcare GCCs in India
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