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The Olympic Games in Paris 2024 are in full swing, captivating audiences worldwide. For India, these games represent another chapter in its long Olympic history.
The country’s impressive haul of seven medals, including a gold, at Tokyo 2020 was its best showing in decades. Now, with 4 Bronze medals and 1 Silver medal already secured in the Paris Olympics 2024, India continues to build on this momentum.
A similar revolution, driven by Indian talent, is unfolding in the business world. At the heart of this change are the Global Capability Centers (GCCs). Once viewed primarily as cost-saving back offices, these centers are now becoming hubs of innovation and leadership.
The rise of global roles within India GCCs tells a compelling story. A decade ago, only a handful of Indians held global leadership positions in GCCs. Today, that number has grown to over 6,500. This shift isn’t just about numbers – it’s about changing perceptions and growing capabilities. As GCCs in India mature, they’re taking on more critical global functions.
Pari Natarajan, CEO, Zinnov, provides a striking perspective on this growth:
“The number of global roles in India GCCs has grown from a mere 115 in 2015 and is projected to grow to 30,000 by 2030. These roles are pivotal in driving digital transformation across industries, leveraging mature capabilities and data-driven insights.”
This exponential increase represents a fundamental shift in how global corporations perceive and utilize their Indian operations. GCCs are no longer seen as mere support centers but as integral components of global strategy and innovation.
The evolution is particularly notable in the nature of roles and responsibilities now entrusted to Indian leaders. They have, as Pari Natarajan puts it, “a seat at the table, working with greater autonomy and purpose, leveraging their deep customer context to drive digital transformation across industries through mature capabilities.”
Indian leaders in GCCs are now driving financial performance, making core technology decisions, and influencing enterprise architecture and processes. They’re not just part of the conversation; they’re often leading it.
All of this is playing out in real-time across various Multinational corporations. Take, for instance, the case of Barclays. Their Global Service Centre in India has evolved from a support function to a strategic hub for global and regional leadership. The depth and quality of talent in their India locations have led to local professionals ascending to highly critical positions. Today, Barclays’ Global Heads of Technology for Payments and Private Banks operate from Pune, underscoring the strategic importance of their Indian operations.
Similarly, TransUnion’s GCC in India exemplifies this shift towards strategic leadership. A substantial portion of their global business operations is now steered by local leaders from India. These roles aren’t limited to traditional back-office functions; they span across crucial areas such as Software Development, Platform Engineering, Information Security, Business Process Reengineering, Global Vendor Management, and Financial Planning. This breadth of responsibilities showcases the growing trust in Indian talent and the strategic value these centers bring to global operations.
The rise of global roles in India GCCs is creating a ripple effect throughout the business ecosystem. GCCs are evolving into Centers of Excellence and profit centers, becoming innovation hubs that drive new product development and create additional revenue streams for their parent companies.
This transformation extends to compensation structures as well. As Indian leaders take on higher decision-making roles and demonstrate productivity matching headquarters, especially in high-order tasks, they are receiving competitive compensation packages.
The compensation levels are influenced by the nature of the work, availability of talent, and the cost-of-living index. Typically, these packages comprise a mix of fixed cash (50%-60%), Restricted Stock Units (RSUs) (25%-30%), and bonuses, performance incentives, and additional benefits. This trend is narrowing the global compensation gap and further cementing India’s position in the global corporate arena.
The story of global roles in India is one of remarkable transformation, mirroring the country’s own journey on the global stage. From being seen primarily as a source of cost savings, India has emerged as a powerhouse of innovation and leadership in the global business arena.
As these centers continue to break new ground, they are writing a new chapter in the story of global business – one where innovation knows no borders and leadership transcends geographical boundaries. In this new era, India’s GCCs stand not just as success stories in their own right, but as beacons of possibility, showcasing what can be achieved when talent is nurtured, trust is built, and vision is shared.
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