According to EY report-titled Future of GCCs in India—Vision 2030, India will have 2400 GCCs by 2030 and that number can potentially increase to 2550 as India emerges as the world’s technology and services hub.
Arindam Sen, Partner and GCC Sector Lead – Technology, Media & Entertainment and Telecommunications, EY India said, “The outlook of the GCC industry remains buoyant as companies look to set-up their GCCs in India. GCCs are expanding their operations across different cities in India, while exploring new areas of service and hiring talent with niche skill- sets. With the increasing number of global leadership roles based in India, GCCs will continue to move up the value chain through innovation, product development and digital transformation.”
The total number of new GCC set-ups every year can jump up to 115 (from the current 70).The India GCC industry is expected to have a headcount of over 4.5 million people, compared to the current base of 1.9mn.
GCCs are increasingly focusing on employee value proposition to retain talent and are collaborating with partners to fulfil niche resource requirements at scale and speed.
Furthermore, tier-II cities are also grabbing the interest of GCC leaders with increased availability of skilled talent at lower salaries, reduced cost of real estate, improving infrastructure and social security. Amidst a thriving start-up ecosystem, India has an excellent opportunity for GCCs and start-ups to work together as it accelerates the entire innovation journey. According to the report, the overall cost per FTE will increase from the current level of $29,100 to $37,760 by 2030. The key factors affecting the increase in workforce costs include rising salaries, focus on employee value proposition, collaboration with recruitment agencies to fulfill niche resource requirements and investments in digital platforms for training new hires.