Page 5 - Indian Investments Into Gcc

GCC leasing in top 6 cities up 8% in first six months of 2024: CBRE

Global landscape, human capital and real estate foundational pillars of GCC prosperity in India, says the report

Global capability centre industry to boost job creation in India: Report

With India emerging as the hub of Global Capability Centres, a report on Saturday revealed that 78 per cent professionals expect the GCC sector to become a catalyst for creating jobs, particularly benefiting temporary workforce in the country. A majority of 78 per cent foresee GCCs as catalysts for creating new job opportunities, particularly benefiting gig workers and the temporary workforce in India, said a report by HR Services and Workforce Solutions provider Genius Consultants. This optimism about job creation reflects a positive outlook on GCCs' potential to diversify and expand employment avenues in the evolving job market, the survey stated. The report on GCCs and their potential impact on the Indian industrial market is based on an analysis of inputs from 1,033 professionals. Almost all the respondents agreed on the pivotal role that GCCs play in advancing the adoption of cutting-edge technologies such as Artificial Intelligence (AI), cloud computing, and Internet of Thing

Indians now hold 10-13% of leadership spots in global capability centres

India's 1,600 global capability centres (GCCs) currently employ about 5,000 Indian professionals in global roles, a number expected to reach 30,000 by 2025

GCCs may occupy 26 million sq ft office space by 2027: Knight Frank India

As per the report, between 2018 and 2023, 5,349 GCC-focused office deals under 50,000 square feet were finalised across eight cities

From back offices to strategic hubs, GCCs in India shaping MNC operations

Gradually, leaders at India-based GCCs are gaining greater autonomy, influencing enterprise architecture and participating in budgeting, staffing, and other operational decisions

AstraZeneca to invest Rs 250 crore in expanding its GITC in Chennai

This will be the company's largest GCC in the world. This is a monumental addition by the company, joining other global giants like Hitachi Energy in establishing their biggest GCCs in Chennai

'Cultural integration, regulatory compliance top challenges for new GCCs'

The study revealed distinct preferences in entry strategies, with 46 per cent of respondents opting for joint ventures

The elections signal course correction

Voters have made it clear they want inclusive growth and a break from polarising politics

Unlocking India's decadal growth

Sustained high growth will need hard reforms

India must up its share in global manufacturing: FM Nirmala Sitharaman

Some economists, including former RBI Governor Raghuram Rajan, have said recently that India should focus on services sector rather than manufacturing as it has missed that opportunity

Start-ups and GCCs lead in AI adoption in India, says EY report

Further, the analysis of India's top 50 most valued Indian unicorns in the study revealed that 66 per cent of them were already using AI or GenAI technology in their operations

India to have 200 new GCCs by 2025; growth to help office space: JLL

GCCs are offshore centres that handle a variety of operations like tech, customer service, finance and product development, among other things to support the parent company

India GCCs emerge as proof-of-concept foundries for GenAI applications

Companies are utilising GCCs as a "sandbox environment" to develop PoCs that accelerate their digital journey by leveraging GenAI across relevant domains

GCCs lead in gender diversity in India; deeptech firms lag behind: Research

Achieving gender parity, however, remains a challenge in Deeptech organisations, where the percentage of women workforce stands at mere 23 per cent, according to the report

90% of GCCs plan to harness AI, ML in 2-3 years, says ANSR report

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

GenAI, GCCs to help boost Indian economy in coming years: Deloitte

India could see a substantial growth of USD 359-438 billion in GDP through adoption of GenAI and the country's Global Capability Centres (GCC) market would exceed USD 100 billion by 2030, Deloitte India said in a report. The Technology Trends 2024 report: India perspective said GCCs are taking the lead in 2024, showcasing India's growing prowess in catering to international technology needs. "With over 1,600 GCCs, India's GCC market is growing and creating its dominance globally. It is estimated that by 2030, the Indian GCC market would exceed USD 100 billion, with 2,500 GCCs across the country employing over 4.5 million people," it said. The report pointed out a close connection between technological adoption and accelerated economic growth. Improved accessibility and government initiatives, it said, have led to a significant surge in digital technology adoption. It said advanced technologies offer avenues for growth and efficiency, such as automating tax filing, using blockchai

India will become a product nation in PM Modi's next term: Vaishnaw

At Business Standard Manthan, Ashwini Vaishnaw said that the Centre would create a policy framework for the Global Capability Centres

Co-working spaces set to expand capacity in 12-24 months as demand rises

WeWork plans to inaugurate its first building in Chennai in early June. Currently, the company is spread out across 54 locations with more than 90,000 desks across seven cities

Aster DM's deal to separate India and GCC businesses nears completion

In November 2023, Aster DM had received corporate approvals to separate its India and Gulf Cooperation Council (GCC) businesses into two distinct and standalone entities

Tapping into India's talent, global capability centres eye revenue goldmine

India is home to more than 1,580 GCCs, with a total market size of $46 billion