Trials to Talent, Mohali to Market: Inside Parexel's GCC Strategy
Joining us is Sanjay Vyas, President and Managing Director of Parexel India, a company with experience in clinical research and regulatory services, playing a pivotal role in bringing new treatments to market.
Parexel's GCC in India is more than just a support engine—it's a hub for innovation, and transformative talent. With investments in Mohali and a sharp focus on operational resilience, Parexel is redefining what it means to deliver global healthcare solutions from India.
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Tune in as we explore:
The strategic story behind Parexel's India GCC;
How innovation is reshaping clinical research operations;
Why Mohali matters—and its rising role in the region's talent economy;
What's next for healthcare, life sciences, and global delivery from India.
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Economic Times
a day ago
- Economic Times
Experts have mixed opinions about impact of US tariffs on job market
Synopsis US tariffs on Indian exports spark job concerns. Experts warn of potential job losses in textiles, gems, and other sectors. Some believe India's domestic demand and trade diversification will cushion the blow. Negotiations are expected, and India may redirect trade. Uncertainty may persist, leading to cost containment and hiring freezes. IT and GCC sectors might also face indirect effects. Agencies Representational Mumbai: The steep tariff imposed on Indian exports to the US has evoked concerns among staffing experts with some of them warning of an immediate jobs crisis while others believe India's domestic demand and trade diversification will help cushion the impact. "The recent imposition of additional US tariffs is expected to have a direct and substantial impact on India's employment landscape. This will especially impact those industries relying heavily on the US market for business continuity and growth," workforce solutions and HR services provider Genius HRTech founder, chairman and managing director R P Yadav told PTI. Sectors like textiles, auto components, agriculture, and gems and jewellery are the most vulnerable, with MSMEs bearing the brunt, said Yadav. He estimates that 2,00,000 to 3,00,000 jobs are at immediate risk, with textiles alone, which is labour-intensive, potentially losing 1,00,000 jobs, if the tariff regime continues beyond the next six months. "Similarly, in the gem and jewellery sector, including units in Surat and SEEPZ in Mumbai, thousands of jobs are at risk due to reduced demand and cost escalation in the US market," he added. However, TeamLease Services Senior Vice President Balasubramanian Anantha Narayanan does not see the possibility of job losses, saying India is largely a domestic consumption-driven economy, unlike China. "At this point in time, we aren't seeing any signs of a slowdown or loss of jobs. This also by extension means that our jobs are largely in service of domestic demand too, with the exception of some sectors like ITeS among others. Our exports to the USA are USD 87 billion, which is roughly about 2.2 per cent of our overall GDP. Largely pharma, electronics etc. won't be affected for now, which will further limit the export exposure to industries such as textiles, gems and jewellery among others," he said. Moreover, these tariffs come into effect later this month, and some negotiations are likely to happen before that, he added. "On the other side, we've also had several positives by way of the recently closed FTA with the UK and other countries. Even if these US tariffs do come about, we'll definitely figure out a way of redirecting or diversifying our trade to other markets. Therefore, at this point in time, we aren't seeing any signs of a slowdown or loss of jobs. It's an evolving situation and we'll get to know more in due course of time," he said. The slowdown in jobs growth is much more due to the overall slowdown in global demand and consumption, uncertainty around tariffs, and geopolitical conflicts in various parts of the globe, he added. Meanwhile, CIEL HR MD and CEO Aditya Mishra said the US tariff scenario is unsettling for Indian exporters, especially in sectors that are heavily dependent on the American market, such as electronics, textiles, gems and jewellery, auto components, leather, footwear, shrimp, and engineering goods. "Even industries outside the direct tariff ambit, like pharmaceuticals, are feeling the ripple effect through costlier upstream chemicals and materials," he noted. However, as negotiations are expected, this phase of uncertainty may persist through the third quarter of this financial year, said Mishra. "While widespread layoffs appear unlikely at this stage, companies are already in cost-containment mode, reducing discretionary spending, streamlining production, and freezing hiring. The immediate pressure will be on temporary and contract roles, particularly shop-floor workers, artisans, sales and logistics staff, and some mid-level managers in export-led units. This will have a cascading effect on thousands of MSMEs in the supply chain, which collectively account for a large share of employment," he added. This situation might also indirectly affect sectors like IT and GCCs, he said, adding that the IT sector is already experiencing slow spending and hiring, and this additional uncertainty could delay its recovery further. "GCCs (global capability centres) are likely to take a cautious approach to hiring and investments until there is greater clarity on trade negotiations and market stability. If the tariff situation persists, India's market share in the US could shrink, leading to longer-term repercussions for exporters and the industries that depend on them," he added.
Mint
2 days ago
- Mint
GCCs drive surge in Indias reskilling market, attracting international interest
New Delhi [India], : India's reskilling market is witnessing accelerated growth, driven by the rapid expansion of Global Capability Centres across the country. As demand for advanced digital and technical skills rises due to the emergence of GCCs, international players are increasingly focusing on Indian professional markets, top executives in reskilling and experts said, adding that investing in reskilling programmes has become a central part of the strategies of many global firms to keep their Indian teams skilled to global standards. GCCs, also known as Global In-house Centres or Captive Centres, are fully owned and integrated hubs established by multinational corporations in talent-rich locations to build value and intellectual property. They leverage global talent pools and technological advancements to enhance organisational capabilities and drive business transformation. Observing the emerging trends, Amit Goyal, Managing Director, South Asia, Project Management Institute , which is a global non-profit professional membership association, said, "In today's dynamic business environment, organisations are increasingly prioritising internal competencies through well-structured 'study-at-work' and upskilling initiatives. This marks a clear shift from the earlier "individual-driven" learning model to a more strategic, "organisation-led" approach." Goyal added that corporates are recognising that investing in employee development is not just a retention strategy but a competitive advantage. "Global Capability Centres are playing a pivotal role in this transformation. Many are actively sponsoring learning programmes to ensure their workforce is equipped with the critical skills required to stay relevant and drive innovation," PMI's South Asia Director added. Goyal said that most GCCs prefer having globally accredited certifications, as these help them establish benchmarks and compare their internal capabilities with global best practices. Smitha Hemmigae, Managing Director, ANSR, highlighted that every GCC today recognises that upskilling, L&D, and well-defined career pathing are no longer "good to have" but a true differentiator for attracting and retaining top talent. "Unlike traditional delivery roles, GCC careers are increasingly positioned as leadership tracks, where employees can see a clear pathway to senior, global, and cross-functional positions," said the MD of ANSR which specialises in helping businesses build and manage Global Capability Centres . Citing the vast demand for reskilling activities, executives highlight that, among many reasons, the nascent stage of skilling is one of the key factors driving the emerging demand for reskilling programmes in Indian corporates. A report titled "Skills for the Future: Transforming India's Workforce Landscape", developed by the Institute for Competitiveness, pointed out that data analysis based on PLFS shows that in 2023-24, 88 per cent of India's workforce is in low-competency occupations, while only 10-12 per cent are in high-competency roles. Using PLFS data, five sectors which accounted for over 66 per cent of vocational training in India were identified. These sectors are IT and ITeS, Textile and Apparel, Electronics, Healthcare and Life Sciences, and Beauty and Wellness. The report added that industries need to be incentivised to recruit from a skill-certified talent pool and take accountability for creating market-aligned training, besides offering them higher wages. Gaurav Makhijani, Head of Tax at Roedl and Partner India, who closely works with foreign companies, also supported the trend, adding that many GCCs are partnering with universities and skilling platforms to ensure their India teams are ready for the future. "In my experience, the view of India as only a low-cost destination is changing quickly, especially for GCCs. While cost advantage still matters, most established companies now see India as a strategic talent hub. From the start, they are including plans for long-term upskilling, leadership development, and innovation in their India strategy. The aim is to build strong expertise, R&D capabilities, and end-to-end operational support," Makhijani added. GCCs are set to contribute 2 per cent of India's GDP and generate 2.8 million jobs by 2030, and are emerging as a key growth and employment generator, according to the Association of Chartered Certified Accountants . With over 1700 GCCs in 2023-24, which is expected to rise to over 2200 by 2030, India has become the prominent destination for the MNCs to set up their centres. In Financial Year 2024, GCCs generated approximately USD 64.6 billion in export revenue: a 40 per cent increase from USD 46 billion in FY23. The growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centres . Hyderabad follows closely with 273 GCCs , while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai are also contributing significantly. This article was generated from an automated news agency feed without modifications to text.
News18
2 days ago
- News18
GCCs drive surge in Indias reskilling market, attracting international interest
New Delhi [India], August 17 (ANI): India's reskilling market is witnessing accelerated growth, driven by the rapid expansion of Global Capability Centres (GCCs) across the demand for advanced digital and technical skills rises due to the emergence of GCCs, international players are increasingly focusing on Indian professional markets, top executives in reskilling and experts said, adding that investing in reskilling programmes has become a central part of the strategies of many global firms to keep their Indian teams skilled to global also known as Global In-house Centres (GICs) or Captive Centres, are fully owned and integrated hubs established by multinational corporations in talent-rich locations to build value and intellectual leverage global talent pools and technological advancements to enhance organisational capabilities and drive business the emerging trends, Amit Goyal, Managing Director, South Asia, Project Management Institute (PMI), which is a global non-profit professional membership association, said, 'In today's dynamic business environment, organisations are increasingly prioritising internal competencies through well-structured 'study-at-work' and upskilling initiatives. This marks a clear shift from the earlier 'individual-driven" learning model to a more strategic, 'organisation-led" approach."Goyal added that corporates are recognising that investing in employee development is not just a retention strategy but a competitive advantage.'Global Capability Centres (GCCs) are playing a pivotal role in this transformation. Many are actively sponsoring learning programmes to ensure their workforce is equipped with the critical skills required to stay relevant and drive innovation," PMI's South Asia Director said that most GCCs prefer having globally accredited certifications, as these help them establish benchmarks and compare their internal capabilities with global best Hemmigae, Managing Director, ANSR, highlighted that every GCC today recognises that upskilling, L&D, and well-defined career pathing are no longer 'good to have" but a true differentiator for attracting and retaining top talent.'Unlike traditional delivery roles, GCC careers are increasingly positioned as leadership tracks, where employees can see a clear pathway to senior, global, and cross-functional positions," said the MD of ANSR which specialises in helping businesses build and manage Global Capability Centres (GCCs).Citing the vast demand for reskilling activities, executives highlight that, among many reasons, the nascent stage of skilling is one of the key factors driving the emerging demand for reskilling programmes in Indian corporates.A report titled 'Skills for the Future: Transforming India's Workforce Landscape", developed by the Institute for Competitiveness, pointed out that data analysis based on PLFS shows that in 2023-24, 88 per cent of India's workforce is in low-competency occupations, while only 10-12 per cent are in high-competency PLFS (2023-24) data, five sectors which accounted for over 66 per cent of vocational training in India were identified. These sectors are IT and ITeS, Textile and Apparel, Electronics, Healthcare and Life Sciences, and Beauty and report added that industries need to be incentivised to recruit from a skill-certified talent pool and take accountability for creating market-aligned training, besides offering them higher Makhijani, Head of Tax (North India and Gujarat) at Roedl and Partner India, who closely works with foreign companies, also supported the trend, adding that many GCCs are partnering with universities and skilling platforms to ensure their India teams are ready for the future.'In my experience, the view of India as only a low-cost destination is changing quickly, especially for GCCs. While cost advantage still matters, most established companies now see India as a strategic talent hub. From the start, they are including plans for long-term upskilling, leadership development, and innovation in their India strategy. The aim is to build strong expertise, R&D capabilities, and end-to-end operational support," Makhijani are set to contribute 2 per cent of India's GDP and generate 2.8 million jobs by 2030, and are emerging as a key growth and employment generator, according to the Association of Chartered Certified Accountants (ACCA).With over 1700 GCCs in 2023-24, which is expected to rise to over 2200 by 2030, India has become the prominent destination for the MNCs to set up their Financial Year 2024, GCCs generated approximately USD 64.6 billion in export revenue: a 40 per cent increase from USD 46 billion in growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centres (29 per cent of India's total). Hyderabad follows closely with 273 GCCs (16 per cent), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai are also contributing significantly. (ANI)
