India's GCC Boom: Bengaluru, Hyderabad, and Chennai Lead the Charge
The Global Capability Centers (GCCs) in India have witnessed significant growth, driven by a skilled workforce, cost efficiency, and a conducive business climate. Bengaluru, Hyderabad, and Chennai have emerged as the top destinations for GCCs, with Bengal
Global Capability CentersGccIndiaBengaluruHyderabadChennaiPuneDelhi NcrMumbaiReal EstateTalentTechnologyBfsiLife SciencesAutomobilesAerospaceReal Estate MumbaiAug 05, 2024
The GCC growth trajectory is anticipated to be concentrated in India’s top six metropolitan areas, driven by their exceptional talent pools, enabling expansion and future development.
Global corporations are affirming their long-term commitment to India by securing larger office spaces for their GCCs. As per the report, nearly 53 million square foot (msf) of office space was leased by the Global Capability Centers (GCCs) between CY 2022 and the first half of 2024 across Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai.
Bengaluru has cemented its status as the leader for global capability centres (GCCs), commanding a 40% share in India’s GCC leasing market (from CY 2022 to Jun’24). The city holds the largest share of GCC talent, accounting for 34% in Jan-Jun ’24.
Hyderabad has ascended to GCC prominence due to the government’s proactive policy framework and efficient urban infrastructure. The city attracts talent from across the nation, offering a compelling proposition for GCCs.
Chennai has emerged as a major GCC hub, underpinned by a vibrant technology sector and robust manufacturing base. The city’s educational prowess in STEM fields attracts new GCC entrants.
Pune, historically a BFSI GCC stronghold, is experiencing renewed interest from engineering & manufacturing and technology firms. Competitive real estate costs, a cosmopolitan talent pool, and proximity to an automotive and engineering hub make Pune attractive to GCC occupiers.
The emergence of AI and ML as pivotal technologies underscores the imperative for robust talent reskilling. By cultivating a highly skilled workforce and adopting innovative learning methods, GCCs in India can establish themselves as Global Centers of Excellence.
India boasts a substantial engineering talent pool, enabling firms to expand across diverse roles. The future promises further diversification as life sciences, automobiles, and aerospace sectors expand their Indian GCC presence. With a strategic roadmap for 2024 GCC development, India is poised to spearhead the next wave of globalization.
Semiconductor firms, life sciences firms, and automotive corporates are among the emerging sectors in the GCC space.
Semiconductor firms are experiencing significant growth, expanding their GCC operations in India. The convergence of AI and automation across industries is driving heightened demand for advanced semiconductors.
Life sciences firms are expanding their Indian GCC footprints, driven by medical advancements, enhanced care quality, and evolving compliance and regulatory frameworks.
Automotive corporates have established a robust foundation in India, characterized by trust, agility, and adherence to cost and delivery commitments for global headquarters.
(cbreal estate consulting firm)
Zyoin(Zyoin, India’s hiring solutions group)
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Frequently Asked Questions
What is a Global Capability Center (GCC)?
A GCC is a strategic unit established by a global corporation to leverage local talent, technology, and resources to support its global operations.
Which cities in India are leading the GCC boom?
Bengaluru, Hyderabad, and Chennai are the top destinations for GCCs in India.
What are the key drivers of GCC growth in India?
The key drivers of GCC growth in India include a skilled workforce, cost efficiency, and a conducive business climate.
Which sectors are emerging in the GCC space in India?
Semiconductor firms, life sciences firms, and automotive corporates are among the emerging sectors in the GCC space in India.
What is the future outlook for GCCs in India?
With a strategic roadmap for 2024 GCC development, India is poised to spearhead the next wave of globalization, with further diversification expected in life sciences, automobiles, and aerospace sectors.
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