GCCs poised to churn 3.64 lakh jobs in 2023
Despite slowdown in western economies, most Global Capability Centres keen to increase their headcount in Indian centres as the country fast emerging destination for GCCs; Bengaluru & Hyd account for 65% of GCCs in India; GCC space will scale up from current $35.9bn to $60-85 bn by 2026
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India currently accounts for 45% of the global GCCs and this share is expected to grow further. They are setting up operations to create a superior talent pool (78% of the respondents), to assist the global demand for radical innovation (55%), to create business optimization strategies (49%) and not merely for labour arbitrage. The sector is expected to see a 10.8% CAGR growth in employment in 2023 alone
- Sachin Alug, CEO of NLB Services
Bengaluru: India is fast emerging as the destination of choice for multinational corporations (MNCs) to set up Global Capability Centres (GCCs), according to a report released by NLB services on Wednesday and it projected the number of GCCs to touch 2,000 in next three to four years from present 1,500.
Bengaluru and Hyderabad in India have emerged as the cities of preference with 65 per cent of GCCs being set up in these two southern Indian metros. Despite an impending slowdown in western economies, the report found out that most GCCs were keen to increase their headcount in Indian centres. "GCCs will add close to 3.64 lakh jobs within the next 12 months and the sector will scale up from the current $35.9 to $60-85 billion by 2026," it said.
While 33 per cent of respondents operating in IT software &consulting are keen on ramping up the talent pool, it is followed by BFSI at 21 per cent and Internet & Telecom at 16 per cent.
"India currently accounts for around 45 per cent of the global GCCs in operations and this share is expected to grow further. But what is heartening to know is the transition in the way MNCs are looking at India. They are setting up operations to create a superior talent pool (78 per cent of the respondent), to assist the global demand for radical innovation (55 per cent), to create business optimization strategies (49 per cent) and not merely for labour arbitrage. The sector is expected to see a 10.8 per cent CAGR growth in employment in 2023 alone. As India cements its position further in the scheme of strategic operations, the demand for talent also will grow," said Sachin Alug, CEO of NLB Services.
Currently, 47 per cent of all GCCs present in India are business-oriented centres, 40 per cent are R&D centres and 13 per cent are in capability development centres.
The report found out that skills such as data science, data analytics, data engineering, statistical analysis and UI/UX Design as the most critical and in-demand skills for GCCs in India.
"Python programming, excel for analysis, and large dataset analysis via SQL/Hadoop are the most desired technology skills," the report further said.
It also said that GCCs are hiring big data analytics manager with a payout of Rs20 lakh per annum as the top job as of now. Similarly, these centres are hiring IT Manager (at a compensation of Rs15 lakh per annum) and Full Stack Developers (at Rs14 lakh per annum) among other job roles.
