In Q2 2022’s update of the Zinnov-NASSCOM India GCC ecosystem, we zeroed in on the BFSI vertical.
India is one of the top global talent hotspots, and its Global Capability Center (GCC) ecosystem is one of the most vibrant in the world. The last quarter has been an interesting one for the Indian GCC ecosystem, with many new centers being set up, while existing GCCs expand their footprint across tier-I and -II cities.
The USD 35.9 Bn GCC market, growing at 10.8% CAGR is currently home to more than 1500 GCCs. To put India’s position as a destination of choice into perspective, Q2 2022 saw the addition of 20 more global centers to the Indian GCC ecosystem – that is, nearly 3 new centers every two weeks!
Approximately 75% of the new GCCs established in Q2 2022 in India are from the Software and Internet, Retail, and BFSI verticals. And three-fourths of the total centers established in India in Q2 2022, have all three functional areas, namely Engineering Research & Development (ER&D), IT, and Business Process Management (BPM).
Key technology focus areas across these newly minted GCCs include Artificial Intelligence (AI), Natural Language Processing (NLP), Data Science, Web 3.0, and Robotics. With 1.38 Mn+ total installed GCC talent, the Indian GCC ecosystem is one of the most sought-after in the world.
This latest NASSCOM-Zinnov Quarterly Analysis of India GCC Trends provides a comprehensive analysis of the trends in the ecosystem while providing a snapshot of how different GCCs have matured and successfully leveraged the India ecosystem,. The report provides an analysis of the following: