India Ranks as No. 1 Location for Global In-House Centres
The National Association of Software and Services Companies (NASSCOM) commenced the 6th edition of its two-day GIC (Global In-House Centre) Conclave on 21st – 22nd Multinational Companies demonstrate high inclination to setup GICs in India April 2016 in Hyderabad. This year, the conclave’s theme focuses on “Transforming the Global Enterprise” and aims at sharing perspectives, on the role GICs would be expected to play towards enabling the transformational journey for the enterprise.
Speaking on the occasion, Mr. CP Gurnani, Chairman, NASSCOM, stated, “GICs are an integral part of the Indian IT-BPM sector and have played a stellar role in contributing to the growth journey of this industry. The NASSCOM GIC Council over the last few years has helped bring diverse GICs together across verticals and geographies and built an ecosystem for this sector to grow and support the next wave of digital leadership for the global enterprise”.
Mr Navneet Kapoor, Chair of NASSCOM GIC Council said, “These are exciting times for the industry. As technology disruptions create new opportunities for global businesses, GICs have a unique opportunity to help shape this journey. A key theme for the NASSCOM GIC Council is to enable the Neo GIC that can help build new sources of value for enterprise digital transformation. GICs are today focused on catalysing innovation and are actively building programs for partnerships with start-ups, apart from enhancing internal capabilities”.
Global In-house centres have become an integral component of the fast growing Indian IT-BPM sector and contribute a 20% share in IT-BPM exports from India. The number of GICs operating out of India has exceeded beyond 1050 in 2016 and account for USD 22 billion of revenue in FY2016, employing a workforce of about 7.90 lakh. India continues to be the leading destination for GICs, with over 20% of new GICs being set up in India in the last year.
GICs (earlier called Global captives) operate in India across all service lines – IT services, BPM, Engineering services and product development. BFSI, software, telecom and semi-conductor are the key industry verticals with growing focus in aerospace, healthcare, retail and automotive. GOCs are also playing a very diversified role for the global enterprise across and are viewed as cost centres, centres of excellence, program management offices and an innovation hotbed for emerging markets.