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In a recent revelation, the National Association of Software and Service Companies (NASSCOM), an esteemed Indian non-governmental trade association and advocacy group with a primary focus on the technology sector of India, has unveiled its highly anticipated Jan-June 2023 report.
September 20, 2023: The report has illuminated the burgeoning prominence of Hyderabad as the favored city for Global Capability Centers (GCCs), marking a pivotal juncture in the evolution of India’s technology landscape.
The NASSCOM report underscores the profound expansion of GCCs throughout the nation, with Hyderabad and Bengaluru emerging as the epicenters of this transformative wave. Hyderabad, in particular, has soared to prominence, boasting a remarkable tally of 11 GCCs in the year 2023 alone. This impressive figure encompasses both the establishment of new GCCs and substantial expansions within the city.
To put this into perspective, the city’s remarkable surge is exemplified by the welcoming of 18 new GCCs across Hyderabad, Bengaluru, Mumbai, and Pune. This collective proliferation has undeniably positioned these metropolises as veritable crucibles of innovation within India.
A snapshot of GCC presence in key Indian cities
Let’s look into the specifics of the GCC landscape in these cities
Hyderabad: Leading the charge with 11 GCCs, Hyderabad has solidified its status as the preeminent destination for these centers. The city’s proactive approach to nurturing a conducive business environment has undoubtedly played a pivotal role in this ascent.
Bengaluru: Standing shoulder to shoulder with Hyderabad, Bengaluru also boasts an impressive tally of 11 GCCs. Often heralded as the “Silicon Valley of India,” Bengaluru’s allure for GCCs continues to flourish.
Mumbai: The financial capital of India, Mumbai, has notched up four GCCs, further enriching its diverse economic landscape.
Pune: Pune, renowned for its educational institutions and burgeoning IT sector, has welcomed five GCCs, reaffirming its significance on the technological map.
The driving forces behind Hyderabad’s triumph
The meteoric rise of Hyderabad as a GCC magnet can be attributed to several pivotal factors. Foremost among these is the city’s commitment to fostering a business-friendly environment, marked by conducive policies that have attracted multinational corporations to establish their GCCs within its precincts.
The strategic location of Hyderabad, complemented by its state-of-the-art infrastructure and a pool of skilled professionals, has made it an irresistible choice for organizations seeking to set up GCCs.
Beyond Hyderabad: A wider spectrum
While Hyderabad and Bengaluru command the limelight, it’s worth noting that Mumbai and Pune have also embarked on their journeys toward becoming innovation hubs. In the first half of 2023, these cities have actively welcomed GCCs, further diversifying the geographical spread of these centers in India.
Deciphering GCCs: The backbone of global enterprises
Global Capability Centers, commonly referred to as GCCs or GICs, represent the offshore units of multinational corporations with a global footprint. These centers shoulder a myriad of responsibilities, encompassing vital support functions such as Information Technology (IT) and Human Resources (HR), among others, to seamlessly service their parent organizations.
The NASSCOM report for Jan-June 2023 has cast a spotlight on the remarkable ascent of Hyderabad as the preferred destination for GCCs. This transformation underscores the city’s commitment to fostering a thriving technology ecosystem, setting the stage for a promising future. As the landscape of GCCs continues to evolve, the dynamic interplay between cities and corporations promises to reshape India’s technological destiny.