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Business Standard
21-05-2025
- Business
- Business Standard
India likely to see at least 30 GCCs with billion-dollar revenue this year
The number of global capability centres (GCC) with revenue of more than $1 billion is expected to hit about 30 this year, up from 24 a year earlier, indicating the growing importance of such organisations in India's technology landscape. Data from Pune-based consultancy Wizmatic shows that for the financial year ended March 31, 2024, there were about 24 GCCs with annual revenue of more than $1 billion. This included big banks such as JP Morgan, Wells Fargo, Citicorp, Barclays, HSBC Software, Standard Chartered, and Bank of America. The number of GCCs with a billion dollars in annual revenue - mainly technology companies like IBM, Dell, Oracle, and Cisco - was just 12 in 2020 before steadily increasing over the past five years. "Looking ahead to FY-2025, we anticipate an additional five to six GCCs will join the $-billion list. The shift toward higher-value innovative services, increased digital adoption, and strategic investments will define the next phase of growth for GCCs in India,' says Sandeep Panat, founding partner of Wizmatic Consulting. Some other companies which are close to the elusive billion-dollar mark and may cross the line this year are Adobe, Salesforce, and US healthcare company Optum. Wizmatic's data is based on filings made by the local units of these companies with the ministry of corporate affairs (MCA). The numbers for the financial year ended March 31, 2025 are yet to be published. The Pune-based company also includes Indian operations of major IT services companies such as Accenture and Capgemini as part of the list because it says the operational model and local legal structure are not very different from the GCC arms of other companies. GCCs are the technology centres of foreign companies in India. They used to be called 'captive' centres but many in the industry now prefer the term GCC given their growing maturity and greater autonomy they enjoy from their headquarters. This is because such centres are seen as an extension of a company's headquarters and are not viewed as just a cost centre with focus on increasing headcount. While the bigger banks and technology companies have thousands of employees in these centres, new-age GCCs usually have smaller headcounts who work on high-end technology. Lalit Ahuja, co-founder and chief executive officer of ANSR – which helps MNCs set up GCCs in India – told Business Standard earlier this month that many GCCs have now morphed into the main enterprises, become contextually empowered, driving business outcomes, and no longer viewed as cost centres unlike a decade ago. 'The thriving GCC industry is best reflected in its financial performance and serves as a key indicator of its success in India. The $-billion GCCs with significant operations in the country generate substantial export revenues that position them as integral players in the nation's economic landscape," says Panat. GCCs with more than $ 1 billion revenue: Year-2020: 12 Year-2021: 14 Year-2022: 17 Year-2023: 19 Year-2024: 24
Yahoo
24-02-2025
- Business
- Yahoo
GridGain Helps Advance Real-Time Distributed Databases for High-Performance Applications Through Contributions to Apache Ignite 3.0
Latest release of Apache Ignite makes it easier to build, deploy, and manage ultra-low latency data-centric applications at scale FOSTER CITY, Calif., Feb. 24, 2025 /PRNewswire/ -- GridGain®, provider of an ultra-low latency data processing platform for transactional and analytical workloads and the original creator of Apache Ignite®, today announced it has contributed to the latest major release of Apache Ignite, version 3.0. These contributions reflect GridGain's continued commitment to the open-source distributed database, caching, and computing platform. As data volumes continue to grow exponentially and the demand for real-time user experiences reaches new heights, businesses need high-performance solutions that can keep up. Apache Ignite has long been the trusted choice for developers at top companies, enabling them to achieve unmatched speed and scale through the power of distributed in-memory computing. With the release of Apache Ignite 3.0, the platform takes a major leap forward, delivering significant improvements to enhance developer experience, platform resilience, and overall performance. "As the original developer of Ignite and the leading enterprise-grade solution based on an Ignite foundation, we are committed to continuing to make major contributions to the evolution of the open-source Apache Ignite code," said Lalit Ahuja, CTO at GridGain. "We are extremely excited by the new usability and performance features that make it easier for the members of the Ignite community to build, deploy, and manage high-performance distributed applications." Apache Ignite 3.0 simplifies installation, improves configuration management, enhances API usability, and significantly boosts performance. For experienced users, Apache Ignite 3.0 offers enhanced developer experience that simplifies continuous improvement and maintenance. New capabilities such as SQL transactions enable new use cases, and architectural improvements make deployments more resilient and efficient. For new users, Apache Ignite 3.0 provides an easier learning curve and streamlines first-time installation and configuration. GridGain's Technical Contributions to Apache Ignite 3.0 Installation and Management – Apache Ignite 3.0 simplifies installation and management, making it more accessible for developers and administrators. This includes a new interactive Command Line Interface (CLI) and a dynamic configuration framework. Clients and APIs – Apache Ignite 3.0 streamlines application development by unifying access across different clients and data models, while ensuring flexibility and improving developer experience. Enhancements include unified clients, table API and unified schema, modern concurrent programming paradigms, and SQL transactions. Architecture and Performance – Apache Ignite 3.0 includes major architectural upgrades to improve cluster reliability and efficiency. Features include raft-based consensus, MVCC transactions, a Calcite-based SQL engine, and binary tuple. For a deeper dive into the features and capabilities of Apache Ignite 3.0, join the Apache Ignite community for their annual virtual conference – Ignite Summit 2025 – on February 25, 2025. In the meantime, users can find more details on Apache Ignite 3.0 in this blog post by GridGain's Director of Product Management, Stanislav Lukyanov. To try Apache Ignite 3.0, download it from the official Apache Ignite website, or check out GridGain 9 — an enterprise-grade data platform based on Apache Ignite 3.0. Connect with GridGain LinkedIn X YouTube About GridGain GridGain, the original creators of Apache Ignite, offers a leading real-time data processing platform. It enables a simplified and optimized data architecture for enterprises that require extreme speed, massive scale, and high availability from their data ecosystem. GridGain is trusted by companies like Citi, Barclays, American Airlines, AutoZone, and UPS to accelerate their existing applications, speed operational analytics and fraud detection, train machine learning models for AI, and provide fast-access data hubs. To learn more, please visit GridGain donated the original Ignite code to The Apache Software Foundation (ASF) in 2014. GridGain is a Bronze Sponsor of the ASF, with several members of the GridGain team serving as active contributors to the project. To learn more, please visit About Apache Ignite Apache Ignite is an open-source distributed database for high-performance computing with in-memory speed that can be used as a distributed cache, an in-memory data grid, or a database for hybrid transactional/analytical processing. Ignite delivers unprecedented speed, massive scalability, and real-time data access for both legacy and greenfield applications. Apache Ignite is used by thousands of leading companies including Apple, Banco do Brasil, Bloomberg, Dreamworks, Dutch Railways, Homeaway, IBM, ING Bank, Microsoft, and PayPal. For more information, visit CONTACT:Brigit ValenciaFor GridGain Systems390648@ 360.597.4516 GridGain is a trademark or registered trademark of GridGain Systems, Inc. The Apache Software Foundation. "Apache" is a registered trademark of the Apache Software Foundation in the United States and other countries. All other brands and trademarks are the property of their respective owners View original content to download multimedia: SOURCE GridGain
