BTech (IT) Graduates must use the Emerging Career opportunities by GCC


With the services sector rapidly evolving and driving the country to the forefront of tech-driven innovation, global capability centers have emerged as key nodes for transformation, business strategies and new technologies, helping organisations be agile in a highly dynamic environment.
Global capability centers, also known as GCCs or GICs, are offshore units of multinational corporations that operate across the globe. These centers are responsible for providing various support services, such as IT, finance, human resources, and analytics, to their parent organizations. Earlier, these units were primarily established to offshore back-office processes, but that is not the case today. GCCs of today handle more complex line items across the organisation’s value chain. They have become centers of operational excellence, product development and innovation hubs.

Hence, B.Tech Graduates from top engineering colleges in India such as NIST University are standing at the cusp of leveraging these trends for lucrative returns.

Current Growth and Future of Employability through GCCs in India:
GCCs are increasingly focusing on creating value for businesses and consumers, driving strategic initiatives, and addressing challenging business challenges with new techniques. The centers have played an important role in India’s technological story, accounting for around 48% of the worldwide GCC market share and producing $45 billion in export income. They employ over 1.64 million employees, the vast majority of whom work in digital product engineering. In India, the GCC environment is focused on significant cities including Bangalore, Hyderabad, Chennai, Pune, Noida, and Gurgaon. These centers have drawn worldwide firms from Fortune 100 and Fortune 2000 organisations, and their success has motivated new entrants to follow in their footsteps.

Key Factors Promoting GCC Development in India:
  • Indian GCCs have matured into centers of excellence, spurring innovation and establishing India as a worldwide technology and innovation engine. GCCs are poised to make substantial contributions to India’s digital transformation path, thanks to a favourable business climate, an emphasis on inexpensive innovation, and a strategic approach.
  • India is the primary centre for the formation of GCCs. The country is home to more than half of the world’s GCCs. There are almost 1,300 GCCs in India, employing over 1.3 million people. According to Deloitte and NASSCOM research, the GCCs in India generate 1% of India’s GDP. According to the analysis, the aggregate income of GCCs in India will reach $60-$85 billion by the end of 2022. In 2019-20, the comparable number was $33.80 billion. By FY2025, the GCC market in India will expand from USD 58 billion to USD 61 billion. In India, the number of GCCs will rise to over 2000.
  • GCCs flourish in India not only because of arbitrage but also because of the ease of innovating and digital on boarding. India also boasts a thriving talent pool with strong leadership qualities. A strong infrastructure with high-speed, dependable broadband is also a huge asset. There is also strong policy backing for the GCCs.

GCCs as an Outsourcing Model for BTech IT Graduates:
  • GCC offshore captive centers assist parent corporations in capitalizing on the benefits of outsourcing. At the same time, it addresses the flaws of traditional outsourcing methods. In comparison to outsourcing, GCCs provide speed, quality, efficient procedures, better control, and deeper data insights.
  • Large firms outsource to third-party independent contractors or vendors in classic offshore. This type of migration saves money and time zones while also improving access to talent. However, businesses lose control over their job. The third-party agent is rarely a direct employee and frequently manages many customers. Work quality, priorities, and timelines are frequently jeopardized. Outsourcing’s profitability is further hampered by data hazards and regulatory obligations.
  • The GCC model also allows businesses to control their cognitive resources. GCCs function as an extension of the company, handling just the enterprise’s job. Because these centres are devoted, parent firms may entrust them with a greater variety of duties.
  • Businesses may target their investments in new technology and training to the GCCs in order to develop intrinsic, in-house knowledge. The firm solely leases cognitive assets through outsourcing.
  • GCCs also open up opportunities for B.Tech graduates to innovate. GCCs can manage whole projects, from conception to testing and beyond. Because employees in the GCC are part of the parent firm, there is a high level of responsibility.
  • GCC growth has been on a sharp upswing since the COVID-19 pandemic, which is great news for B.Tech students looking for opportunities to drive technology-led innovations. GCCs began to emerge as strategic partners for its parent businesses. The most recent, technologically advanced GCCs give value to mission-critical operations. As a Centre of Excellence (CoE), they advance up the value chain, from arbitrage centers supervising support activities to automation and innovation hubs.
Conclusion:
In the changing career market, the GCCs are going to be the Game changers for growth and development of Economy. Hence, there is no better time for B.Tech graduates from NIST University to grab this opportunity and leverage the growing trend of GCC in India.


Authors: Dr. Sabyasachi Rath & Prof. Mitu Baral

Stay tuned for more such updates on our official social media: https://linktr.ee/NISTUniversity

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