The landscape of Global Capability Centres (GCCs) in India has witnessed a remarkable transformation in 2023, with significant implications for the nation's role in the global technology arena.
Rohit Jetly, Head of Shared Services and India Site Head at Fidelity International, has identified this period as crucial in highlighting India's growing importance in the global business sector.
“2023 was an important year for India's Global Capability Centres (GCCs), characterised by trends that highlight India's crucial position in the global business arena,” Jetly said, adding that the rise of GCCs in India is a clear indicator of the country's burgeoning role in the global market.
The number of GCCs in India is projected to reach an astounding 2,000 within the next three to four years. This growth not only reflects the quantitative expansion but also the qualitative enhancement of India's talent pool, particularly in domains like AI, analytics, digital technology, blockchain, and cloud computing.
Jetly said, “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 the business and customer outcomes they are serving,” Jetly further elaborated on the evolving role of leadership in these rapidly growing GCCs.
Jetly's insights also illuminate the confidence that global corporations are placing in India as a center for advanced technological capabilities. The evolving preference of Indian engineers and technologists towards GCCs and product companies, over traditional IT service firms, signals a significant shift in the industry dynamics.
Looking into the future, Jetly anticipates a promising trajectory for GCCs in 2024. He believes that these centers will be instrumental in shaping the future, provided there is a concerted effort to solidify India's standing in the fast-evolving global landscape.
“In 2024, the outlook for GCCs seems promising and 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,” he said.
Regarding Fidelity International's commitment to India, Jetly emphasised its unwavering nature. For over two decades, India has played a strategic role in the company's global operations.
“More than 40% of our global talent is based in India and we have recently announced our operations in Bangalore, which will bolster our strategic presence in the country,” Jetly pointed out.
