Taggd Report: Transformative Growth in India's GIC Sector
NEW DELHI, Feb. 8, 2024 /PRNewswire/ — The Global In-house Centre (GIC) sector in India has witnessed unprecedented growth and transformative shifts, setting the stage for a dynamic future. With remarkable resilience and innovation, GICs have emerged not only as cornerstones of India’s technological prowess but as strategic players in global transformations. In a recent report by Taggd’s India Decoding Jobs, it was revealed that the GIC sector in India has experienced remarkable growth, with a staggering 120% increase in employment between 2015 and 2023, reaching over 1.66 million professionals. This growth reflects the sector’s adaptability and ability to thrive amidst global challenges, including the COVID-19 pandemic.
The report highlights key trends and developments in the Indian GIC market, showcasing a significant shift towards end-to-end product ownership and a broader, more integrated approach by GICs. Notably, the healthcare services segment has emerged as a standout performer, experiencing exceptional growth post-COVID, with around 80 GICs now operating in this sector.
Furthermore, high-profile meetings between Indian Prime Minister Narendra Modi and US President Joe Biden underscore the increasing recognition of India as a capable partner in the technology space, elevating the status of Indian GICs on the global stage.
Key trends in the GIC job market include diversification of functions, skill-based hiring, expansion into Tier-II and Tier-III cities, and a dynamic shift in hiring dynamics between GICs and traditional IT service companies. The report also highlights challenges in talent acquisition, such as intensifying competition for skilled professionals and persistent talent gaps in emerging technologies.
To address these challenges and drive future growth, the report recommends strategic partnerships with educational institutions, upskilling and reskilling initiatives, outcome-focused talent acquisition strategies, and the adoption of a hub-and-spoke model for flexibility.
Looking ahead, the GIC sector is poised for continued growth, with hiring intent expected to increase to 32% in 2024. The future demands a workforce skilled in advanced analytics, data science, cybersecurity, AI/ML, and interdisciplinary collaboration.
About Taggd
Taggd, India’s Digital Recruiting firm, is revolutionizing talent acquisition with its industry leading solutions. Taggd combines data and human knowledge to provide businesses with ready-to-hire talent. Led by CEO Devashish Sharma, Taggd has over 15 years of experience, managing the recruitment process for 100,000 positions annually. Offering comprehensive solutions across 14 sectors, including technology, engineering, and automotive, Taggd delivers tangible business gains for clients. Trusted by prominent brands like Tata Motors, Mahindra & Mahindra, HPE and many more, Taggd’s expertise in recruitment strategies, talent network access, and data intelligence has solidified its position as a leader in the industry. Recognized by global analyst firm Nelson Hall, Taggd seamlessly blends human expertise with data-driven insights, empowering businesses to make successful hires and drive growth.
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