Last Wednesday, we did a full page on GCCs on #TimesTechies, because Nasscom’s estimates for 2023-24 suggested that for the first time ever, #GCCs would be hiring more than the IT services sector, which for years had been India’s biggest hirer of white-collar professionals. While IT services headcounts have been generally trending down in the past few quarters, a newly released #Zinnov report estimates that net hiring in GCCs rose by 12.9% in calendar year 2023, on top of the 1.7 million employees the segment had at the end of 2022, implying a net addition of 2.1 lakh employees last year. Viswanathan K S of #Nasscom says GCCs have become the mainstay for the Indian tech industry. Ramkumar Ramamoorthy, former MD of Cognizant India, says if one were to rank the top 200 technology companies, including GCCs, in India by employee count, more than 150 of them could be GCCs. He says there are dozens of GCCs that have more than 10,000 employees each. Lalit Ahuja, founder & CEO of ANSR, says never in ANSR’s history has it seen so many GCCs coming in with clear mandates of hiring 10,000 people. Pari Natarajan, CEO & Co-founder of Zinnov, says some GCCs are creating a new product innovation playbook from India. Indeed, every #GCC we meet now talks about innovating out of India, and helping transform their parent companies. We had previously written, based on Zinnov estimates, that there are some 5,000 global leaders sitting out of India GCCs. Ahuja says this is the “true” Make-in-India story: “You can make iPhones or Teslas here. But more than that, we are now the seat of power, the intellectual leadership, for some of the largest global enterprises, helping them get ready for tomorrow.”
#india #exports #hiring
