GCCs of multinationals may hire half a million in India this fiscal

GCCs of multinationals may hire half a million in India this fiscal

India is emerging as a preferred destination for global capability centres (GCCs) of multinationals across various sectors. GCCs are the in-house units of global companies that provide technology and business process services to their parent organisations. According to industry experts, GCCs in India are set to clock half a million gross hires, including attrition refills, this fiscal year¹². This is a significant increase from the previous years, as GCCs are ramping up their talent search to meet the demand for digital transformation, innovation, and research.

Why India?

There are several factors that make India an attractive location for GCCs. Some of them are:

- Availability of skilled talent: India has a large pool of professionals with expertise in technology, digital, analytics, and artificial intelligence. According to EY estimates, the GCC headcount in the country is currently about 2 million and is expected to increase to 4.5 million by 2030. India also has a strong education system that produces quality graduates every year.
- Cost advantage: India offers a favourable cost environment for GCCs, as the salaries and operational expenses are lower than in the West. India also has a favourable tax regime and incentives for GCCs, such as lower corporate tax rates, tax holidays, and special economic zones.
- Infrastructure development: India has improved its infrastructure in major cities, including tier II and tier III cities, to attract GCCs. India has also invested in improving its connectivity, power supply, and internet bandwidth. India also has a vibrant startup ecosystem that fosters innovation and collaboration.

Which sectors are leading the hiring?

The sectors that are leading the hiring action for GCCs in India are:

- Banking, financial services and insurance (BFSI): This sector accounts for 25% of the net headcount additions for GCCs this fiscal year². BFSI GCCs are looking for talent in areas such as cloud computing, cybersecurity, blockchain, data science, and machine learning.
- Pharmaceuticals: This sector is witnessing a surge in demand for GCC talent due to the Covid-19 pandemic and the need for vaccine development and distribution. Pharmaceutical GCCs are looking for talent in areas such as biotechnology, bioinformatics, clinical research, and regulatory affairs.
- Retail: This sector is undergoing a digital transformation due to the rise of e-commerce and changing consumer preferences. Retail GCCs are looking for talent in areas such as digital marketing, customer experience, supply chain management, and omnichannel retailing.
- Energy: This sector is facing challenges due to climate change and the need for renewable energy sources. Energy GCCs are looking for talent in areas such as smart grid technologies, energy efficiency, clean energy solutions, and carbon capture and storage.
- Automotive: This sector is witnessing a shift towards electric vehicles and autonomous driving. Automotive GCCs are looking for talent in areas such as battery technologies, artificial intelligence, computer vision, and sensor fusion.
- Telecom: This sector is gearing up for the 5G revolution and the need for high-speed connectivity. Telecom GCCs are looking for talent in areas such as network engineering, cloud computing, edge computing, and internet of things.

What are the benefits of working for a GCC?

Working for a GCC can offer several benefits to professionals, such as:

- Exposure to global best practices and standards
- Opportunity to work on cutting-edge technologies and projects
- Access to learning and development programs
- Career growth and mobility within the global organisation
- Competitive compensation and benefits
- Cultural diversity and inclusion

How to apply for a GCC job?

If you are interested in working for a GCC in India, you can follow these steps:

- Identify your area of interest and skill set
- Research the GCCs that operate in your preferred sector and location
- Visit their websites or social media pages to learn more about their culture, values, and vision
- Check their current openings or register your profile on their career portals
- Apply online or through referrals
- Prepare well for the interview process

GCCs of multinationals are creating more opportunities for professionals in India this fiscal year. If you are looking for a challenging and rewarding career with a global exposure, you may want to consider working for a GCC.

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