Press Release – updated: Sep 12, 2020 22:00 EDT
CHICAGO, September 12, 2020 (Newswire.com) – With an increasing digital focus, over 75% of India-based Global Capability Centers (GCCs) are investing across analytics, cloud migration, and robotic process automation, and over 50% in artificial intelligence, machine learning, and Internet of Things (IoT) as discussed during Nexdigm’s webinar on ‘India – A Favorable Destination for Global Capability Centers’.
The webinar highlighted that 70% of India GCCs belong to US-headquartered companies, followed by 20% from Europe. The session showcased the potential of GCCs in India and highlighted how multinationals can leverage India’s sizable knowledge workforce to their advantage.
“Indo-US enjoys a comprehensive strategic partnership that cements cross-sectoral links between them. With current trade of ~USD 142 million, the countries have complementary strengths and capabilities that can make the combined vision of USD 500 billion trade a reality,” said Dr. T. V. Nagendra Prasad, Consul General of India, San Francisco.
Mr. Peter Bendor-Samuel, Founder & CEO, Everest Group, said, “India has executives who have a deep-root level of understanding and are capable of driving operations on their own. Backed with digital transformation, mature market conditions, and cost-saving business models along with an immense range of services and capabilities, GCCs have opened a gateway for not only global firms but also smaller players in India.”
The Indian GCC market size is ~USD 28.3 billion (2019), with over 1,750 centers and over one million employees. At present, ~50% of worldwide GCCs are in India. As per Nexdigm, GCCs could provide savings of up to 45% over an average time of three to five years.
“India provides minimal business risk for companies due to suitable policy-backing. Companies should not look at India as a makeshift set-up but as full-fledged business unit. The talent here has exceptional leadership capabilities, which enables companies to make a collaborative investment in nurturing and building up the right talent for future growth,” said Mr. Jerry Kinnick, President, Continuum Global Solutions.
The large educated talent pool, young demographics, along with established intra-country connectivity, and appropriate policy support have enabled India to maintain its leadership position in GCCs. India’s cost to value proposition is 3-4 times lower than the US. There has also been a ~250% increase in GCCs in India in the last 10 years.
The panelists were Rajiv Kumar, Joint Secretary, Ministry of Electronics & IT; Dr. T. V. Nagendra Prasad, Consul General of India, San Francisco; Peter Bendor-Samuel, Founder & CEO, Everest Group; Jerry Kinnick, President, Continuum Global Solutions; moderated by Marc Lessem, Senior Executive Director, and Alpana Shirgaonkar, Executive Director, Nexdigm. The webinar is part of Nexdigms series – ‘Diversify to Differentiate – Think India, Think Next!’
Nexdigm is a global business advisory organization serving clients from more than 50 countries leveraging its capabilities to help organizations set up GCCs, manage and optimize existing GCCs, or provide outsourced services for their clients.
For more information, please visit www.nexdigm.com