 "India's GIC export share to touch $17 bn in FY14, says Nasscom report")
There are over 825 GICs in India offering the entire spectrum of services – IT services, BPM, ER&D, and software products spreading across the tier I/II/III cities in India, that employ over 530,000 people, and accounts for 17 per cent of the total export revenues in India.
These numbers continue to showcase India as a centre of choice for several multi-national companies for setting up their captive units.
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“GICs in India are rapidly maturing and moving up the value chain, driven by dynamic macro-economic circumstances, changing customer demands, and rapidly emerging technologies and business priorities. GICs today are playing a vital role in the development of India as a technology hub and testing grounds owing to the availability of high quality talent and cost advantage. At this year’s conclave we will aim at leveraging intellectual capabilities built by the GIC sector to position India as an ideal innovation and R&D hub,” said R Chandrashekhar, president, Nasscom.
In 2013, India GICs today have managed to deploy new and innovative services that make business processes more efficient and are aligned with attaining strategic business objectives. Key growth drivers of GICs- Alternate business locations (Philippines, China, Mexico, Brazil) talent availability & SMAC technologies
Shakti Sagar, national chair, NASSCOM GIC Forum, said, “GICs are playing an important role in the growth of the Indian IT-BPM industry. With unbeatable advantages of cost competitiveness, talent availability, India remains the leading location for new GIC set-ups.”
However, headcount growth in this is expected to continue but at a slower pace in comparison to the past five years. Around 50 per cent of Fortune 500 firms to have GIC footprint in India by 2015.
NASSCOM will commence the fourth edition of the two-day GIC Conclave on April 15 and 16, at Pune. With the theme of “Onward and Beyond- Delivering Excellence”, the conclave will provide a platform to network, highlight success stories, define new business models, share thought leadership and collectively provide innovative solutions to the emerging challenges faced by GICs in India.
KEY HIGHLIGHTS
• GICs in India: Rs 825 nos.
• GIC exports: Rs $17 billion in FY2014
• Share in total IT-BPM exports: Rs 20- 22%
• Employee: 530,000 people
• Share in total industry workforce: 17%
• >50% of Fortune 500 firms to have GIC footprint in India by 2015