7 hours ago
- Business
- New Indian Express
IT firms double down on GCC expansion to tap growing opportunity
BENGALURU: Many Indian IT services firms have now started focusing on Global Capability Centres (GCC) by appointing a separate head to lead and expand the company's GCC capabilities. After Infosys and Wipro, HCLTech recently announced the appointment of Kiran Cherukuri as Global GCC Practice Leader.
HCLTech plans to double down on this fast-growing segment with a sharp focus on India.
"The GCC's build, operate and transfer (BOT) market is one of the few fast-growing sectors in an otherwise slow market. Firms are increasing their investments to capture their share of this attractive market and as they increase their focus and investments, they are appointing new leadership," Peter Bendor-Samuel, Founder and Executive Chairman of Everest Group told TNIE.
He added that as Accenture and other industry leaders announce significant wins in GCCs, it has become obvious to all that they must increase investment and put some of their stars into competing in this space.
Last year, Accenture made an equity investment in GCC platform ANSR. Though the company did not disclose the investment amount, it is said that Accenture will be investing close to USD 170 million.
According to Everest Group, GCCs account for about USD 13 billion of revenue to IT services companies across various engagement models, including setups, transformation, and operational support and that the GCC in India is a $65 billion market and has been growing at 8%. Experts anticipate that this market will accelerate to double-digit growth.
