Topics In Demand
Notification
New

No notification found.

New entrants and expansion of existing GCCs in Q4 CY2023
New entrants and expansion of existing GCCs in Q4 CY2023

1042

0

India has been the go-to destination for GCCs for long now. The success of attracting multiple global companies to India can be attributed to several factors such as skilled and diverse talent pool, supportive policy environment, cost competitiveness etc.

The year 2023 started on a tumultuous note, with recessionary warnings, interest rate hikes, geopolitical tensions, inflation etc., hampering global expansion plans. As the year progressed, Q4CY2023 data revealed a slight slowdown in growth compared to Q3CY2023. During Q4CY2023, 10 new centres were established across various Tier 1 and one Tier 2 city as well.

 

New GCCs set up in Q4CY2023

About 60% of the new GCCs in Q4CY2023 included all three functional areas – ER&D, IT, and BPM. ~50% of new GCCs set up in CY2023 are US headquartered. In addition, semiconductors accounted for ~30% of the new GCCs established in CY2023. This is followed by Software and Internet and Industrial verticals.

 

GCC 10

 

Some prominent names for new GCCs that opened in Q4 include Hitachi Energy, Sandoz, DocuSign, SignatureIP, Atmus etc. Out of the 10 new GCCs, 9 are in Tier 1 cities of Bengaluru, Hyderabad, Chennai and Pune, and one in Tier 2 city of Bhubaneshwar.

 

Expansion of existing GCCs in Q4CY2023

5 existing GCCs expanded their presence in India in Q4Y2023, 3 of them in Tier 1 cities of Hyderabad and Pune and the remaining two in Coimbatore and Kolkata. Automotive and Professional services verticals accounted for 40% each of the centre expansion. Some prominent names which expanded presence include Mahle, Toyoda Gosei, KPMG, FedEx, and Advantech.

 

GCC 11

 

India has consistently emerged as the key destination for global companies to drive innovation, access skilled talent, groom future leaders, and build world class products.

 

To know more about the GCCs in Q4CY2023, download the report from the following links –

Nasscom Community https://community.nasscom.in/communities/nasscom-insights/india-gcc-trends-quarterly-analysis-q4cy2023

Nasscom Websitehttps://nasscom.in/knowledge-center/publications/india-gcc-trends-quarterly-analysis-q4cy2023


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Vandhna Babu
Principal Analyst - Research

© Copyright nasscom. All Rights Reserved.