The surge in GCCs projected to reach 2,000 in India over the next 3-4 years, reflects how organizations are harnessing India's talent pool
FinTech BizNews Service
Mumbai, December 14, 2023: As we approach the conclusion of this transformative year and reflect on the significant developments and progressions, Rohit Jetly, Head of Shared Services and India Site Head, Fidelity International, has very interesting views to share on the significant developments that took place in the Global Capability Centre (GCCs) landscape in India in 2023 and the expected trends in 2024.
2023 was an important year for India's Global Capability Centres (GCCs), characterized by trends that highlight India’s crucial position in the global business arena. Rohit Jetly, Head of Shared Services and India Site Head, Fidelity International, explains: “The surge in GCCs, which are projected to reach 2,000 in India over the next 3-4 years, reflects how organizations are harnessing India's talent pool more in terms of depth of skill and the volume of innovation that can unfold from here, with substantial focus on areas like AI, analytics, digital, blockchain and cloud. This reaffirms the confidence global corporations place in India as a hub for advanced capabilities and underscores the nation's position as a global leader in technology. The shift is further accentuated by the talent’s (especially engineers’ and technologists’), clear preference for working in GCCs and product firms, over traditional IT services firms.”
In 2024, the outlook for GCCs seems promising. Rohit Jetly, elaborates: “I expect them to play a pivotal role in shaping the future, albeit we take steps to consolidate our position in the rapidly changing world. Our leadership talent needs to be in tune with evolving and unmet customer needs and be ingenious enough to create solutions to meet their needs. They should be able to reimagine how they move through the value chain and improve the value arbitrage we provide. They also need to start thinking more creatively about improving our productivity as a collective. To deliver on our promise, our talent needs to excel, both from a skills perspective as well as from a cultural integration perspective and be more hands on and connected to business and customer outcomes they are serving.”
At Fidelity International, India continues to be a place of strategic importance for over two decades now, having built strong customer-centric capability in the country, delivering work across engineering & technology, finance, digital, general counsel, data and analytics, cyber security etc. to name a few. Rohit Jetly adds: “More than 40% of our global talent is based in India and we have recently announced our operations in Bangalore, that will bolster our strategic presence in the country. We have thoughtfully crafted our approach to build a sustainable business, and to leverage India as a talent hotspot as well as a resilience location for our clients globally.”
