Latest news with #GCCS
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Business Standard
a day ago
- Business
- Business Standard
Why are GCCs in India, touted as the next big thing, in a tax tangle?
The key problem, say tax experts, lies in the classification of GCCS and what they do: while tax authorities look at the share of operational work done in India Monika Yadav New Delhi Listen to This Article India has become a preferred location for many foreign companies to set up their back offices or tech hubs, known as Global Capability Centres (GCCs). These centres handle IT services, finance, customer support, software development, and more — mostly for the parent companies based in the US, Europe, or other regions. At a recent event organised by the Confederation of Indian Industry (CII), Finance Minister Nirmala Sitharaman said, 'There are about 1,800 GCCs in India, employing nearly 2.16 million professionals. The CAGR at which it has grown is 11 per cent over the last five years. And this number of
India Today
07-07-2025
- Business
- India Today
GCCs push India's office leasing to new heights: Report
Global Capability Centres (GCCs) are giving India's office leasing market a big boost in FY25. GCCs have taken up 42% of all leased office space this year, according to Vestian's latest COST SAVINGS: WHY GCCS ARE COMING TO INDIAWhat's driving this boom? GCCs are no longer coming to India just for cheaper costs. They now see India as a strong base for talent, innovation and large modern offices. Many of these centres are set up by Fortune 500 companies that want future-ready workplaces and skilled people to support their global to the report, GCCs leased nearly 32 million square feet of office space in FY25, that's 24% more than last year. Fortune 500 companies alone took up almost half of this LEADS THE WAY Delhi-NCR is leading this surge, staying ahead of other big cities with its strong roads, easy travel and large talent pool. GCCs alone made up over 28% of NCR's total office leasing. In fact, Fortune 500 firms snapped up half of the GCC space here, up from 40% a year Noida and Faridabad are seeing a flood of new offices. Big global companies are looking for Grade A buildings that offer good design, better facilities and room to to Shantanu Gambhir, Co-Founder of RISE Infraventures, Delhi-NCR's office market stays robust, led by Gurugram and Noida. Global firms and GCCs want premium, well-connected spaces, making corridors like Dwarka Expressway Bhutani of Group 108 says the Noida-Greater Noida Expressway is now a top choice for GCCs and Fortune 500 firms. Better infrastructure, premium office spaces and the upcoming airport are driving growth in this IT and ITeS companies still drive most of the demand, other sectors like banking, healthcare and R&D are fast catching up. This means India's commercial real estate is no longer tied to just one industry, it's becoming more global companies put India at the heart of their operations, the push for better, greener and bigger offices will only grow. For India's office market, the message is clear, the future looks bright, and the country is ready to deliver.- Ends
Yahoo
06-03-2025
- Business
- Yahoo
Cold Chain Technologies acquires Global Cold Chain Solutions
US-based Cold Chain Technologies (CCT), a provider of thermal packaging and digital monitoring solutions, has acquired Global Cold Chain Solutions (GCCS), which offers passive cold chain solutions. The acquisition marks an expansion of CCT's operational capabilities and its presence in the Asia-Pacific region. The financial details of the transaction have not been disclosed. Headquartered in Melbourne, Australia, GCCS designs and manufactures thermal assurance solutions for various life sciences applications. It specialises in good distribution practice-compliant temperature-controlled packaging and monitoring for pharmaceuticals, healthcare, and logistics. Its advanced thermal engineering capabilities and manufacturing sites in Australia and India are claimed to offer safe transportation for life-saving drugs. GCCS founder and CEO Andrew Meyers said: 'We are excited to leverage CCT's diversified product portfolio, thermal engineering expertise, and proprietary digital track-and-trace software to accelerate our worldwide growth. 'We have long admired CCT as a leader in our industry and believe it is the ideal partner to support GCCS' next chapter of growth. We look forward to working with Ranjeet and his team to better serve our customers, our employees, and the entire life sciences community.' CCT, known for its reusable and sustainable thermal packaging and digital solutions, noted that this acquisition marks its fifth since partnering with Aurora Capital Partners in 2019. The partnership has allowed CCT to expand its sustainable packaging portfolio, enter new life sciences verticals, launch a digital platform, and enhance its global manufacturing and service capabilities. CCT CEO Ranjeet Banerjee said: 'GCCS has established itself as a regional market leader over the last two decades by leveraging its differentiated technologies and broad-ranging portfolio of products and services. 'We are thrilled to partner with Andrew and the entire GCCS team to further expand CCT's footprint in Asia-Pacific, which continues to see rapid investment across all life sciences verticals.' In October 2023, CCT purchased reusable thermal packaging solutions provider Exeltainer for an undisclosed amount. "Cold Chain Technologies acquires Global Cold Chain Solutions" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
