GCCs: An evolving ecosystem built to create value

- In conversation with Rajendra Pawar, Chairman and Co-Founder, NIIT

The Role of Talent in Enabling Business Transformation, Innovation and Excellence in GCCs

What are Global Capability Centers?

GCCs are captive centres that handle operations (back-office functions, support functions, and contact centres) and IT support to enhance productivity. Some large companies use GCCs as a centre of excellence as well. The COVID-19 pandemic has led to the growth of Global Capability Centers (GCCs) in India.

[box type=”info” align=”” class=”” width=””]India is home to over 1,750 Global Capability Centers, which amounts to a massive 50% of all such centers globally. Domestically, GCCs employ over one million employees, generating a total economic value of around $28.3 billion. [/box]

Some important factors responsible for the sudden growth includes formidable talent base and enhanced technology adoption within different industries. Now, India has become a preferred GCC destination due to the presence of a unique ecosystem, including academic community, start-ups, access to talent, and support from the government.

With companies stabilizing operations and optimizing costs because of the ongoing health crisis, GCCs have been continuously preparing for future with focus on innovation and technology enablement. They are needed to deliver improved business values by adopting a comprehensive digital transformation strategy. In terms of technology, there has been a sudden rise in applications such as Internet of Things (IoT), Artificial Intelligence (AI) and Machine Learning (ML). GCCs must address the new technological changes by providing new solutions and supporting employees with home-network security.

Half of the world’s GCCs are based in India!

At the same time, they have been constantly focusing on development of future-ready leaders and prioritization of talent management initiatives. If the number of GCCs continue to grow, India will have over 1900 GCCs with employment of more than 2 million people by 2025.

Like other businesses, GCCs have also taken up new models of working to deal with the COVID-19 pandemic. As the country moves toward digitization, GCCs have been helping in the development of high-quality talent pool.

[author title=”ET Edge Insights” image=”http://”][/author]

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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