The MNC tech hub business in India commonly known as the global capacity centre (GCC) touched the $28.3 billion mark in 2018-19. A Nasscom and Zinnov study revealed that GCCs showed a compounded annual growth rate (CAGR) of 10 per cent during this period which is faster than even the IT services sector.
The study also revealed that India has the biggest presence of GCCs in the world. GCCs employ over 10 lakh people which is up from 7.5 lakh in 2014-15. It further said that there are more than 1,250 MNCs with GCCs in the country as of now and some of the latest entrants are Chinese smartphone companies like Oppo, Vivo etc. While the US has a led the GCC sector so far, the report revealed the APAC-based MNCs are choosing India to set up their global centres.
The report said, “Japan and Singapore contribute more than 64% share of installed APAC-based GCCs in India. “Over the last two decades, GCCs have transitioned to value creators. GCCs have gained maturity, evolving from being single-function to multifunction centres, local to global governance, delivery focused to business focused”, the report further added.
Source: Times Now News
