50% of new GCCs being set up in India, location is ideal: KPMG's Vikas Gaba

New Delhi [India], September 16 (ANI): Around 50 per cent of new Global Capability Centres (GCCs) coming up globally are being set up in India because of its ideal location, Vikas Gaba, Partner and National Head - Power and Utilities at KPMG India, said on Tuesday.

The role of GCCs is increasingly critical, shifting from being mere cost centres to hubs of innovation and transformation; India is emerging as a significant base for GCCs due to its ideal location, large talent pools, and cost advantages, Gaba told ANI on the sidelines of the Global Energy Conclave - #ENRich2025 organised by KPMG India. The Conclave is now in its 16th edition.

Earlier perceived as just cost centres, back-end cost centres are now increasingly becoming hubs of transformation and innovation, and India is becoming a big base of GCCs, he told ANI.

The discussions at the KPMG event primarily focused on the challenges and transformations within the energy sector during turbulent times, emphasising the need for resilience and adaptability among large energy corporations.

KPMG has released a report today at the event, highlighting various facets of GCCs that are entering India and their transformation. The report offered a clear roadmap for energy organisations to pivot from legacy structures to agile, digitally enabled, and future-ready enterprises--placing GCCs at the heart of next-generation energy transformation.

Besides the typical town, big towns, what we are now seeing is that the trend is Tier II, Tier III cities also becoming important. Of course, because of cost advantage, but also access to talent pools and so on. I dont have the job numbers handy, but if large corporations shift their big base and big processes here, you can see the impact it can create on job creation, he added.

As of 2024, there are about 1700 GCCs in India. This, according to Gaba, is projected to grow to about 2,400 by 2030, employing 2.8 million people. That is the impact it can create, he concluded.

GCCs are offshore facilities set up by multinational corporations to manage a variety of business functions and processes for their parent organisations. (ANI)

Disclaimer: This news article is a direct feed from ANI and has not been edited by the News Nation team. The news agency is solely responsible for its content.