NeoSOFT continues to be deeply involved in the Indian GCC landscape with key partnerships that have helped companies navigate complex regulations, and provide highly secure and compliant services to a global clientele. Its strategic expertise in various facets of technology has set new standards for excellence in India.
Global Capability Centers (GCCs) are changing the game, and it’s no longer just about cutting costs. By setting up budget-friendly locations, these centres save on labour and infrastructure while accessing a vast pool of skilled professionals. They drive technology and digital transformation; ensuring businesses run smoothly 24/7 and deliver top-notch services.
India as a hub for GCCs
Partnering with industry leaders like NeoSOFT, which offers next-gen solutions in big data analytics, blockchain, IoT, AI, and machine learning, GCCs are setting new standards for excellence. With smart location choices and advanced tech integration, these centres help companies minimise risks, support flexible growth, and maintain global efficiency and compliance.
India has quickly become a hotspot for GCCs. A February 2024 JLL report said, “The number of GCCs in India has reached 1,800—employing 1.3 million people.” India produces approximately 2.5 million STEM graduates each year. With a relatively low-tech talent gap, the country offers an ideal environment for companies seeking skilled professionals.
As these centres expand, they benefit from NeoSOFT’s deep expertise in IT, engineering, and business management. NeoSOFT has not only provided qualified experts but also ensured continuous skill enhancement through ongoing training, helping GCCs remain competitive and innovative in a rapidly changing market.
“With a keen understanding of the evolving landscape, Neosoft has meticulously designed services that empower GCCs to flourish and excel in this burgeoning environment,” said Nishant Rathi, Founder & Director of Neosoft.
The future of GCCs
Looking ahead, the role of GCCs in India is expected to evolve significantly. By 2030, these centres are anticipated to transition from support functions to core parts of global organisations, driving revenue growth and deeper integration. According to market analysts, the number of GCCs in India could reach 2,500 by 2030, underscoring the significant expansion.
Deloitte Touche Tohmatsu India LLP has reported that the Global Captive Center (GCC) sector currently generates US$60 billion in revenue, with projections suggesting it could rise to US$75-80 billion within the next 4-5 years. India is anticipated to host over 1,900 GCCs, helping employ 2 million people and contribute US$60 billion in revenue. WTO estimates that India is one of the world’s top service exporters, with its share in global services trades increasing from 2 per cent in 2005 to over 4 per cent in 2022. This growth, supported by survey findings, underscores the importance of shared service centres in strengthening India’s global standing and helping to achieve the country’s service export target of US$400 billion for the current fiscal year.
India’s GCCs are also set to become hubs for groundbreaking innovations, particularly in zero-to-one innovations and new business functions with strong product and engineering leadership. NeoSOFT’s Centre of Excellence (CoE) plays a key role here, driving research and development initiatives that keep GCCs at the forefront of technology. As a result, India will increasingly serve as a testing ground for new technologies and business models, with GCCs leading global advancements across industries.
India & GCCs: A perfect match
The rise of Global Business Services (GBS) will further break down organisational silos, enhancing workflows and customer experiences. The Indian IT ecosystem is key to driving outcomes for these GCCs by enhancing talent, fostering a culture of creativity, and providing deep insights into market trends.
Their cross-functional expertise will continue to deliver to global enterprises. Mid-size digital transformation organisations like NeoSOFT, with their ability to deliver at scale but still bring in agile and flexible models to support GCCs, will play a vital role in delivering success, ensuring these centres continue to operate at peak efficiency.
