Topics In Demand
Notification
New

No notification found.

India GCC Trends Quarterly Analysis Q2CY2022

August 30, 2022 4769 1 GCC

India GCC Trends Quarterly Analysis Q2CY2022

NASSCOM, in collaboration with Zinnov, has published ‘India GCC Trends Quarterly Analysis Q2CY2022’ which encompasses key insightful trends transforming the GCC landscape in India for the second quarter of 2022 i.e. April-June 2022. In addition to updates on the GCC India ecosystem; new GCCs in the ecosystem with a deep dive into their key focus areas, verticals they are operating in, headcount as well as headquarters; this edition also covers expansion of centers for established GCCs in India. Moreover, this issue endeavors to capture the granularity of the GCC Landscape in the BFSI sector by underscoring detailed case-studies from the three industry sub-verticals, namely Banking, Financial Services and Insurance. Also, the ‘GCC Intensity Index’, a multifactor assessment framework created by NASSCOM and Zinnov since the first edition, used to track and measure the performance of new GCCs as well as the expansion of existing GCCs setting up base in India, continues its rating of ‘Very High’ in the second quarter (April-Jun 2022) as well.The Index encompasses various parameters such as GCC establishment/expansion, industry verticals, functions, tiers, headquarter locations, India presence in terms of number of locations, envisaged work profile, etc. and endeavors to establish a touchstone to measure the progress and potential of GCCs in India.

4769

1

Download

Key Highlights

Key trends in Q2CY22

  • Rise in the number of new GCCs in Q2 2022; 17 in Tier-I and 2 in Tier-II cities as compared to 19 and 1 respectively in Q1 2022
  • ~74% of the new GCCs established in India operate in all three functional areas, namely ER&D, IT, and BPM in Q2 2022
  • In Q2 2022, nearly three-quarters of the new GCCs established in India hail from the Software and Internet, Retail, and BFSI verticals
  • In Q2 2022, US-headquartered MNCs constituted ~63% of new GCCs as well as new centers of existing GCCs expanded in India,in comparison to 70% in Q1 2022
  • Bengaluru & Hyderabad continue to be preferred locations for setting up base for new GCCs in India
  • Established GCCs expanded in ~11 centers (10 in Tier-I and 1 in Tier-II cities) across India in Q2 2022; Bengaluru & Hyderabad with 3 centers each emerged as the top choices for center expansion of existing GCCs, followed closely by NCR with 2 new centers in Q2 2022
  • Key focus areas for new GCCs as well as the new centers of existing GCCs in Q2 2022 include Artificial Intelligence (AI), Natural Language Processing (NLP), Data Science, Web 3.0, and Robotics 

GCC India Snapshot

  • GCC Market Size CAGR (FY15-FY21) – Rising at a steady pace of ~11% 
  • Total No. of GCCs (as of June 2022) – 1500+
  • New GCCs added in Q2 2022 (Apr-Jun’22) – 19 
  • New GCCs in Q2 2022: 10 operate in the Software & Internet vertical while 2 operate in the Retail and BFSI segment respectively
  • Expansion of existing GCCs in Q2 2022 -From the Software &Internet verticals, Druva and IBM Labs set up a center, in Hyderabad and Kochi respectively; Boston Consulting Group Digital Venture (BCGDV) set up 2 centers in New Delhi & Mumbai respectively
  • GCC Intensity Index for Q2 2022 (Apr-Jun’22) – Very High

Industry Landscape & Case Study: BFSI

  • GCC Units Distribution in India (Top 3 Cities) as of June 2022 - Bengaluru (23-25%), Mumbai (21-23%) and NCR (14-16%)
  • Approximately 25% of the BFSI GCCs have their centers in 3 or more cities
  • ER&D, IT, and BPM functions comprise nearly 10%, 37%, and 53% of the total installed talent in BFSI respectively
  • In the last 5 years, more than 15% of new BFSI GCCs have entered India 
  • >55% of the total BFSI GCCs in India are headquartered in the US
  • Top companies (based on GCC Headcount in India) - JPMorgan Chase, HSBC, Wells Fargo, Bank of America, Barclays, etc.
  • New BFSI Entrants in Q2 2022 – Partior and Ethos
  • BFSI GCCCenter Expansion (2021 and beyond) – JPMorganChase, Goldman Sachs, etc.

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



LATEST REPORTS

© Copyright nasscom. All Rights Reserved.