• Latest
  • Most Read
GCCs, Rakuten, Delta Airlines, India, Tech

Companies from US, UK, Chile, Japan are flocking to India to digitise themselves owing to country’s thriving tech sector

2 years ago
We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

22 mins ago
Manish Kashyap: The Thorn in Nitish Kumar’s Side

Manish Kashyap: The Thorn in Nitish Kumar’s Side

26 mins ago
Rahul Sharma: A true symbol of Sanatana Dharma

Rahul Sharma: A true symbol of Sanatana Dharma

30 mins ago
Maharaja Kharavela: Perhaps the greatest Indian King ever

Maharaja Kharavela: Perhaps the greatest Indian King ever

36 mins ago
The Vaccine War review: Yes, Bharat can do it!

The Vaccine War review: Yes, Bharat can do it!

2 hours ago
Debt is where AAP is!

Debt is where AAP is!

2 hours ago
Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

2 hours ago
Home Ministry orders CBI probe against Kejriwal’s “Sheeshmahal”!

Home Ministry orders CBI probe against Kejriwal’s “Sheeshmahal”!

2 hours ago
Washington Post leaks the truth about Nijjar’s death

Washington Post leaks the truth about Nijjar’s death

20 hours ago
No, OYO is not the communion spot for horny youngsters!

No, OYO is not the communion spot for horny youngsters!

20 hours ago
IAS Officer who took her dog for a walk in the stadium “Compulsorily Retired”!

IAS Officer who took her dog for a walk in the stadium “Compulsorily Retired”!

20 hours ago
AFSPA re-imposed in Manipur after several months!

AFSPA re-imposed in Manipur after several months!

20 hours ago
The sad, tragic journey of Justin Trudeau

The sad, tragic journey of Justin Trudeau

1 day ago
Sanath Jayasuriya, the greatest all-rounder who never got his due

Sanath Jayasuriya, the greatest all-rounder who never got his due

1 day ago
Canada learns diplomacy the “Jaishankar Way”

Canada learns diplomacy the “Jaishankar Way”

1 day ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Friday, September 29, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

    We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

    Manish Kashyap: The Thorn in Nitish Kumar’s Side

    Manish Kashyap: The Thorn in Nitish Kumar’s Side

    Rahul Sharma: A true symbol of Sanatana Dharma

    Rahul Sharma: A true symbol of Sanatana Dharma

    Debt is where AAP is!

    Debt is where AAP is!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    How TVS transformed from a truck maker to a motorcycle giant

    How TVS transformed from a truck maker to a motorcycle giant

    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Washington Post leaks the truth about Nijjar’s death

    Washington Post leaks the truth about Nijjar’s death

    The sad, tragic journey of Justin Trudeau

    The sad, tragic journey of Justin Trudeau

    Canada learns diplomacy the “Jaishankar Way”

    Canada learns diplomacy the “Jaishankar Way”

    “Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell

    “Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Maharaja Kharavela: Perhaps the greatest Indian King ever

    Maharaja Kharavela: Perhaps the greatest Indian King ever

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    The Vaccine War review: Yes, Bharat can do it!

    The Vaccine War review: Yes, Bharat can do it!

    Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

    Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

    Sanath Jayasuriya, the greatest all-rounder who never got his due

    Sanath Jayasuriya, the greatest all-rounder who never got his due

    Lauki Soup health benefits

    Discovering Wellness: 9 Health Benefits of Bottle Gourd (Lauki) Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

    We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

    Manish Kashyap: The Thorn in Nitish Kumar’s Side

    Manish Kashyap: The Thorn in Nitish Kumar’s Side

    Rahul Sharma: A true symbol of Sanatana Dharma

    Rahul Sharma: A true symbol of Sanatana Dharma

    Debt is where AAP is!

    Debt is where AAP is!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    How TVS transformed from a truck maker to a motorcycle giant

    How TVS transformed from a truck maker to a motorcycle giant

    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Washington Post leaks the truth about Nijjar’s death

    Washington Post leaks the truth about Nijjar’s death

    The sad, tragic journey of Justin Trudeau

    The sad, tragic journey of Justin Trudeau

    Canada learns diplomacy the “Jaishankar Way”

    Canada learns diplomacy the “Jaishankar Way”

    “Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell

    “Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Maharaja Kharavela: Perhaps the greatest Indian King ever

    Maharaja Kharavela: Perhaps the greatest Indian King ever

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    The Vaccine War review: Yes, Bharat can do it!

    The Vaccine War review: Yes, Bharat can do it!

    Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

    Who is Jaswant Singh Gill, the inspiration behind ‘Mission Raniganj’?

    Sanath Jayasuriya, the greatest all-rounder who never got his due

    Sanath Jayasuriya, the greatest all-rounder who never got his due

    Lauki Soup health benefits

    Discovering Wellness: 9 Health Benefits of Bottle Gourd (Lauki) Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Economy » Companies from US, UK, Chile, Japan are flocking to India to digitise themselves owing to country’s thriving tech sector

Companies from US, UK, Chile, Japan are flocking to India to digitise themselves owing to country’s thriving tech sector

Abhinav Singh
by Abhinav Singh
14 September 2021
in Economy
0
GCCs, Rakuten, Delta Airlines, India, Tech
934
VIEWS
Share on FacebookShare on Twitter

Big tech companies across the globe are increasingly turning towards India to drop their anchors and set up Global Capability Centres (GCC). Despite a global pandemic affecting the concept of physical offices, the GCCs or the captive centres remain in high demand. The next five years could see the sector potentially scale up its operations to USD 60-85 billion from the current USD33 billion. 

What are GCCs?

For a layman, GCCs are these large facilities that concentrate workers and infrastructure that handle operations such as back-office functions, corporate business-support functions, and IT support. In addition to app development, maintenance, remote IT infrastructure and help desks to sustain productivity growth. 

Some large companies use GCCs as a centre of excellence for automation, innovation, and analytics, among other tasks. In nutshell, GCCs are the miniature models of big companies often providing unique solutions, all whilst working within the framework and using the resources of the company. There is no interference of a third party which means that the product furnished is of the highest quality and at times even much more finely tuned than the one developed in the head offices abroad. 

Why India?

One of the major factors why India is the preferred location for foreign companies and not a traditional hotspot like China is because India provides cost-competitiveness in addition to the tech skills and ability to innovate at scale. Moreover, with the clampdown on the entrepreneurial setup by the Xi Jinping regime, even GCCs would not have been free from the influence, thus the safe bet would have been India. Moreover, engineers working in the booming IT sector of India have delivered solutions for customers in the US, Europe, Australia and other markets, something which the Chinese might have lacked in. 

A report by ET states that Rakuten, Falabella, Lululemon, and Delta Airlines are four of the new companies that have recently set up GCCs in India. In addition, according to the report titled ‘GCC value proposition for India’, the country has become home to capability centres of over 1,300 global organisations, directly employing over 1.3 million people and creating a strong ripple effect in the Indian economy. Out of these 1,300 companies, over 1,100 are looking to scale up operations as well. 

And if one thought, these were simply called centres, a rough look at Rakuten — Japan’s internet behemoth would be enough to dissipate the misconceptions. At its India centre, the largest outside Tokyo, Rakuten is working on computer vision, face detection, face-based payments, fraud detection, pricing innovation, and demand forecasting, and is building a telecom AI cloud. This is the extent of research work that has been offloaded over the nuanced and brilliant technicians of the country.

One of the first American companies to set up a GCC in India was retailer giant Target. The company set up its shop here in 2005 in Bengaluru, which employs over 3,400 employees across technology, marketing, HR, finance, merchandising, supply chain, and analytics. The company is now looking to expand its GCC operations which gives a delightful example of the success of the captive units. 

India’s startup culture producing the talent

India’s growing startup ecosystem, which is now churning unicorn after another, is playing a key part in contributing to the easy availability of digital skills in India. 2021 has been a sensational year for the Indian startup ecosystem, which has surpassed all projections — both in terms of the number of unicorns and the funding raised. 

According to a YourStory report, in July 2021 alone, the Indian startup ecosystem raised almost $10 billion (including a mega-round of $3.6 billion raised by Flipkart) and added three new unicorns to its cap. This was more than the entire amount raised in 2020.

The Indian startup ecosystem is the third-largest in the world with more than 40,000 companies and around 44 unicorns. Whopping 21 startups have made it to the list in the first 8 months of the year. India witnessed the first health tech, social commerce, crypto and e-pharmacy unicorn this year. BharatPe, Mindtickle, UpGrad and CoinDCX have been the recent entrants in August.

GCCs need more recruits

Even with a big pool of engineering talent, the companies are falling short of their hiring targets. One of the problems that India would not mind having. According to Viswanathan of Nasscom, “There is around a 30% gap in demand and supply, though it’s better than in other countries,”

However, there is bumper hiring season on the horizon and it is a golden opportunity for the domain experts to dive into the pool of opportunity and garner the work experience, which otherwise would have forced them to leave the country and contribute significantly to the brain drain problem.

Hiring Outlook at 7-year peak

According to the latest Manpower Group Employment Outlook Survey, the third quarter of the ongoing fiscal (2021-22) is expected to record more recruitments than in any fiscal quarter in the past seven years. An increase in payrolls is forecast for all seven industry sectors during the coming quarter, with the strongest improvements expected in services (50%), manufacturing (43%) and finance, insurance and real estate (42%).

Increase in FPIs

Bullish at the health of the economy and expecting rich future dividends, foreign investors are continuing to bet on the Indian market. Buoyed by the incoming business, growth in employment opportunities and the soaring stock market, Foreign Portfolio Investors (FPIs), within the first 10 days of September poured in a net sum of Rs 7,605 crore in the Indian markets. While Rs 4,385 crore was pumped into equities, the rest, Rs 3,220 crore was pumped in the debt segment during September 1-9.

Read More: PM Modi’s economic policy gets a glowing recommendation as FPIs continue to increase

While GCC was initially set up to provide value to their global organisations, they have, in fact, emerged as a strong contributor to India’s progress. The thriving tech sector is leading the charge in the country’s development story. 

 

Tags: Global Capability CentresIndian EconomyIndian IT IndustryIndian StartupsRakutenTarget
Share69TweetSend
Previous Post

How Tipu Sultan and his father Hyder Ali sowed the seeds of Moplah massacre

Next Post

NGO’s theatrics of Ganesha murti holding sanitary napkins gets slammed by outraged Hindus

Abhinav Singh

Abhinav Singh

Here to fulfill Ra's al Ghul's Destiny

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

We need to resuscitate abandoned temples, not beg for “World Heritage Status”!

29 September 2023
Manish Kashyap: The Thorn in Nitish Kumar’s Side

Manish Kashyap: The Thorn in Nitish Kumar’s Side

29 September 2023
Rahul Sharma: A true symbol of Sanatana Dharma

Rahul Sharma: A true symbol of Sanatana Dharma

29 September 2023
Maharaja Kharavela: Perhaps the greatest Indian King ever

Maharaja Kharavela: Perhaps the greatest Indian King ever

29 September 2023

Popular This Week

Vijay Darda Coalgate
Opinions

The Vijay Darda Cover-Up: How media shielded a Coalgate scam mastermind

by Atul Kumar Mishra
25 September 2023
India Vs Canada+West: What happened, why it happened and what will happen?
Geopolitics

India Vs Canada+West: What happened, why it happened and what will happen?

by Atul Kumar Mishra
24 September 2023
“Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell
Geopolitics

“Why don’t ask Pakistan for Khalistan?” Canadian journalist drops a bombshell

by Animesh Pandey
27 September 2023
No more Bollywood films for Nayanthara?
Cinema

No more Bollywood films for Nayanthara?

by Animesh Pandey
22 September 2023
Trudeau Loses America to Modi’s Magic
Geopolitics

Trudeau Loses America to Modi’s Magic

by Animesh Pandey
25 September 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost