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Nasscom-Zinnov India GCC Trends – Quarterly Analysis Q3CY2023

December 12, 2023 24402 0 GCC

Nasscom-Zinnov India GCC Trends – Quarterly Analysis Q3CY2023

India has fast cemented itself as a premier destination for establishing Global Capability Centres (GCCs), driven by its expansive talent pool, operational excellence, and supportive policy framework. 2023 kicked off on a challenging note with recessionary warnings, interest rate hikes, geopolitical tensions, and inflation weighing down global expansion plans. Despite this start, the latest Q3 CY2023 data signals early revival as both new entrants and incumbents re-commit India focus. This Q3 update on the nasscom – Zinnov Indian GCC trends assesses the developments during Q3 CY2023, while also putting spotlight on the Sales and Marketing function. Through case studies of well-established and mature GCCs in the Sales and Marketing, this edition of the report emphasizes the fact that India’s mature ecosystem is much coveted, and that GCCs have made themselves indispensable parts of HQ. India has, time and again, emerged as the top choice for global companies to drive innovation, access skilled talent, groom the next generation of leaders, and build world class products.

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Key Highlights

  1. New GCCs set up

    A total of 21 new GCCs were established in India during Q3CY2023, marking a significant increase compared to 9 GCCs in Q2 CY2023.

  2. Nasscom-Zinnov GCC Intensity Index

    The nasscom-Zinnov GCC Intensity Index rating is “High” for Q3CY2023 for this quarter basis on multiple parameters such as such as no. of new GCCs, expansion of existing GCCs, industry verticals, functions, tiers, locations, HQ location, work profile, etc. 

  3. Functional areas 

    Approximately 60% of the new GCCs established in India have all three functional areas - namely ER&D, IT, and BPM, in Q3CY2023

  4. Vertical deep dive

    In Q3CY2023, approximately 33% of the new GCCs established in India were from the Software & Internet vertical. US-headquartered MNCs accounted for ~71% of the new GCCs and ~57% of the new centers for the existing GCCs established in India, in Q3CY2023

  5. Focus areas

    Artificial Intelligence, Data & Analytics, Digital Innovation, Machine Learning, Robotics and Cybersecurity are some of the major focus areas for the new GCCs as well as the new centers for existing GCCs in Q3CY2023

     

     

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