The boom in MNC tech centres is expected to continue: Nasscom-Zinnov research

According to new data from Nasscom and Zinnov, India’s global capability centres (GCCs) would employ 2 million workers by 2025, an increase from the current 1.3 million employees.

India’s Gulf Cooperation Councils serve as technological centres for international companies doing business in the country (GCC). Because of their maturity and growing autonomy, many in the business refer to them as GCCs, rather than captive centres, which they were formerly known by the acronym CCC.

By 2020, the GCC market is predicted to nearly double in size, growing from $35 billion to $60 billion, with the number of GCCs increasing to 2,000 from the present 1,430.

According to the analysis, IT unicorns, SaaS companies, and healthcare companies venturing into India will be the most successful GCC companies.

India has risen to become a prominent actor in the global information and communications technology chain. GCCs in India are leading the way in digital transformation charters for their parent firms, thanks to a significant pool of highly qualified tech professionals in the country.

GCCs have now evolved

The GCCs in India were essentially support centres prior to 2004, but they have now developed into more sophisticated facilities. Indian product roadmaps and technical leadership roles have advanced from being outposts to being transformation hubs in recent years.

Pari Natarajan, co-founder and CEO of Zinnov, argues that GCCs have exploded in India as a result of the country’s desire for digital transformation as well as the country’s reputation as a hotbed of talent. He foresaw a “momentary blip” in the demand for and supply of skill when it comes to the labour market.

It was suggested by Natarajan that the healthcare industry could be the next GCC to make an appearance. An increasing number of hospital chains and insurance organisations have established their operations in the area. Perhaps a medical device or technology business will emerge as the next big thing, along with a worldwide unicorn and a SaaS company. Other industrial enterprises, particularly those based in Europe, will be on display as well. “Neither Volkswagen nor BMW, on the other hand, have design engineering centres,” he noted.

As stated by KS Viswanathan, Vice President of Industry Initiatives at Nasscom, just approximately 15 percent of Fortune 2,000 businesses have a presence in India, and only about 25 percent of Fortune 500 corporations have a global corporate headquarters in the country. The governments of the world are all attempting to develop their digital skills and strengthen their digital infrastructure, but the process is gradual. According to his predictions, enterprises based in the middle of the country will invest more than those based on the West and East Coasts.

Over the last few years, a number of global customer communities have been developed by Indian companies (GCCs).

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