8% of GCCs expect their workforce to double within 2023: NLB Services

Despite the headwinds, GCCs will continue to leverage India's vast pool of skilled professionals to bolster their workforce and fuel their growth trajectory

India's Global Capability Centres (GCCs) are experiencing a significant upswing in hiring, a trend starkly contrasting with Indian information technology (IT) services firms, which are largely depending on their existing talent pool.

A recent study on GCCs by talent solutions company NLB Services revealed that 8 per cent of GCCs expect their workforce to double by 2023. This projection equates to the creation of approximately 3.64 lakh new jobs. The study found that, among over 1,500 GCCs in the country, nearly 78 per cent have set up operations in India to enrich or develop an exceptional talent pool.

"Despite the challenges currently present in the global economy, the growing tech workforce in India, coupled with its expertise in advanced technologies like generative AI, quantum computing, robotic process automation, and blockchain, reinforces India's impressive potential as a talent powerhouse to fulfil GCCs' growth strategies," stated Sachin Alug, CEO of NLB Services.

Alug noted that, over the past year, industries such as automotive, BFSI, pharma, retail, energy, and telecom have become significant drivers of demand for specialised technology roles, such as data scientists, and experts in blockchain and cybersecurity.

"Interestingly, this demand has shown a consistent quarter-on-quarter increase of nearly 12-15% throughout the previous year, and we anticipate this momentum to continue in the current financial year," Alug added.

Despite the obstacles, the report stated that GCCs would persist in tapping into India's ample pool of skilled professionals to bolster their workforce and drive their growth trajectory. Industries such as automotive, BFSI, and energy are expected to play a crucial role in driving this hiring boom, in both tech and non-tech roles, as they continue to demand niche skills.

As the number of GCCs in India is anticipated to exceed 2,000 in the next 3-4 years, the optimistic hiring sentiments expressed by GCCs stand as a testament to India's growing prominence as a preferred destination for tech talent and a major contributor to global expansion, the report concluded.