How are GCCs reshaping India’s employment and realty sectors? | Explained
Global Capability Centres (GCCs) are becoming a dominant employment model in India, where multinational companies establish their own offices rather than outsourcing to third-party BPOs. This shift is reshaping urban real estate and the job market in major Indian cities.
Why it matters
It explains a major structural shift in the Indian IT and services economy that impacts high-end employment and commercial real estate.
The story so far: The Global Capability Centres (GCCs) are wholly-owned, captive firms of multinationals that serve only their global parent company. These offices of multinationals are reshaping the urban office spaces and job markets in Bengaluru, Hyderabad, Pune and a host of other Indian cities. They have added a layer of high-paying jobs at a time when the job market is seeing pink slips and low hiring. Many Indian States are competing to attract multinational companies to establish GCCs in their cities.
The article provides an objective explanation of a business model and its economic implications.
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