India sees growth in mid-market GCCs
Representative image
BENGALURU: India is experiencing an uptick in mid-market
global capability centres
(GCCs). The country witnessed over 140 greenfield GCCs come up during the past 30 months, according to data from HR consultancy firm Xpheno's research.
These GCCs initially planned for 70,000 positions, with individual centres targeting between 50 to 3,000 roles.
A recent
Nasscom-Zinnov report
showed that India has over 480
mid-market GCCs
, with 210,000 professionals employed. Mid-market GCCs are capability centres set up by mid-sized firms with annual revenue ranging from $100 million to $1 billion. They represent 27% of all GCCs and 22% of total GCC units in the country. In the last five years alone, more than 110 new facilities were established, representing approximately 35% of all
new GCC units
in India within this period.
480+ centres, 2.1 lakh employed
This contrasts with the larger GCCs in terms of operational scale but not in the ability to deliver high-quality services and innovation.
India will be home to over 120 new mid-market GCCs by 2026, according to research by Bengaluru and US-based ANSR. The majority of mid-tier GCCs in India originate from North America (60%). European nations contribute 25% of these centres, led by Germany, the UK, Ireland, Spain, and France.
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The Asia-Pacific region, including Australia, New Zealand, Japan, and Singapore, accounts for 10% of these establishments.
Some of the mid-market GCCs that entered India in the last 2-3 years include Revolut, Papa Johns, Raksul, and Outbrain, among others.
These centres are primarily situated in Bengaluru, Hyderabad, and Pune. Kedar Pathak, GCC talent specialist at Xpheno, said that tier-1 locations provide superior talent availability, varied skill sets, and facilities. Although tier-2 locations are preparing for future growth, they remain secondary choices for GCC establishments. Modern GCCs have evolved beyond technological hubs to encompass diverse business operations.
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