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News18
2 days ago
- Business
- 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)
Time of India
30-07-2025
- Business
- Time of India
GCCs to contribute 2% to India's GDP, create 2.8 million jobs by 2030: Report
Academy Empower your mind, elevate your skills Global capability centres (GCCs) are set to contribute 2% of India's GDP and generate 2.8 million jobs by 2030, and are emerging as a key growth and employment generator, according to a report by ACCA (the Association of Chartered Certified Accountants ).GCCs, 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 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 the favourable factors, the report said that a skilled workforce, favourable government policies, and improving infrastructure fuel the growth of GCCs in Financial Year 2024, GCCs generated approximately USD 64.6 billion in export revenue: a 40% increase from USD 46 billion in report added that about 20,000 global leadership roles are projected to be based in India by growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently nearly 1,700 centres, over 53% of the total 3,200 have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favourable business report highlights that the finance roles in GCCs have shifted from doing basic transaction-focused accounting to creating value for the organisation through process improvement and cost transformation initiatives. Opportunities abound in business partnering, procurement, reporting, planning, and entry-level roles focus on data analytics, financial planning and analysis (FP&A), and compliance management, mid-level roles are shifting to process improvements and driving transformation, the report added.
