 "Indians now hold 10-13% of leadership spots in global capability centres")
Indian professionals now hold about 10-13 per cent of leadership positions within global capability centres (GCCs), marking a growing impact of India in international corporate frameworks, according to a report by Moneycontrol.
Presently, around 100 Indian chief investment officers and senior vice-presidents are working in GCCs, earning salaries in the million-dollar range, according to a Moneycontrol report.
According to ANSR Research and TeamLease Digital, this figure is projected to rise to around 150 by the end of 2024.
According to ANSR Research and TeamLease Digital, this figure is projected to rise to around 150 by the end of 2024.
Furthermore, India’s 1,600 GCCs currently employ about 5,000 Indian professionals in global roles, a number expected to reach 30,000 by 2025, the report said, quoting data by ANSR Research. ANSR specialises in assisting companies with the establishment, management, and expansion of GCCs.
The report quoted Lalit Ahuja, chief executive at ANSR, as saying, “There’s a significant talent deficit in the West, especially in STEM (Science, Technology, Engineering, Mathematics) fields, and India is perfectly positioned to fill this gap. This model has matured and gained acceptance, proving its viability and effectiveness.”
Ahuja added that traditionally, individuals sought the American dream for three primary reasons: money, quality of work, and quality of life. However, these benefits are now increasingly available in India, and often to an even greater extent. With competitive salaries, high-quality work environments, and cities like Bangalore and Hyderabad providing an excellent quality of life, the advantages are clear, Ahuja said, as quoted by the report.
Additionally, GCCs have progressed significantly over time, now focusing on creating and delivering cutting-edge products and services. While GCCs in the US continue to manage their ongoing operations, their Indian counterparts are at the forefront of future innovations, the report said.
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The report quoted Krishna Vij, business head of IT staffing at TeamLease Digital, as saying that this growth demonstrates the rising acknowledgment of Indian talent and leadership skills on the international platform.
Vij noted that in 2023, Indians held around 10 per cent of leadership positions in the GCC, an increase from 8.6 per cent in 2022. This positive trend is expected to persist, with forecasts suggesting that the proportion will rise to 12.9 per cent by 2025, compared to 11.4 per cent in FY24.
“The sustained increase can be attributed to India’s strong talent pool, its leadership capabilities, and the strategic importance of GCCs in global business operations,” the report quoted Vij as saying.
The projections emphasise the increasing significance of GCCs in India, indicating that the sector is on track for substantial growth in the years ahead.
According to India’s Economic Survey 2024, GCCs operated by multinational companies are projected to contribute approximately 3.5 per cent to India’s GDP by 2030, with revenues expected to reach around $121 billion. Notably, the presence of global leaders in GCCs in India has surged to over 5,000 from just 115 in 2015, reflecting a broader trend across various business functions.