Indian GCCs to create 364,000 new jobs in 2023: Report

The Global Captive Centres (GCCs) sector is expected to increase from US$ 35.9 billion to US$ 60-85 billion by 2026

December 8, 2022

78% of the GCCs are looking at increasing their talent pool by 10 to 100%

8% of the respondents are planning to double their workforce in 2023

The key reason driving the demand for talent is a spurt in demand for services from key global markets

India currently accounts for around 45% of the global GCCs in operations and this share is expected to grow further in the coming years

Global Captive Centres (GCCs) are expected to add about 364,000 new jobs in India in the coming year, according to a report. 

The report said that the GCC sector is expected to increase from US$ 35.9 billion to US$ 60-85 billion by 2026. 

According to a survey from the report, 78% of the GCCs are looking at increasing their talent pool by 10 to 100%, and 8% of the respondents are planning to double their workforce in 2023. The key reason driving the demand for talent was a spurt in demand for services from key global markets.

Regarding sectors, the survey showed that 33% of the respondents from Information Technology (IT) services are interested in increasing the talent pool, 21% from the Banking, Financial Services and Insurance (BFSI) sector and 16% from Telecom. 

Experts said that India currently accounts for around 45% of the global GCCs in operations, and this share is expected to grow further in the coming years. 

Regarding MNCs increasing their operation setups in India, 78% of the respondents said that the reason is to create a superior talent pool, 55% said it is to assist the global demand for radical innovation and 55% believe that they’re doing this to create business optimisation strategies. 

The GCC sector is expected to witness a 10.8% Compound Annual Growth Rate (CAGR) increase in employment next year, added the report.

Source: The Hindu 

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