Global capability centre industry to become catalyst for creating jobs: Report

With India emerging as the hub of Global Capability Centres, a report on Saturday revealed that 78 per cent professionals expect the GCC sector to become a catalyst for creating jobs, particularly benefiting temporary workforce in the country.

A majority of 78 per cent foresee GCCs as catalysts for creating new job opportunities, particularly benefiting gig workers and the temporary workforce in India, said a report by HR Services and Workforce Solutions provider Genius Consultants.

This optimism about job creation reflects a positive outlook on GCCs' potential to diversify and expand employment avenues in the evolving job market, the survey stated.

The report on GCCs and their potential impact on the Indian industrial market is based on an analysis of inputs from 1,033 professionals.

Almost all the respondents agreed on the pivotal role that GCCs play in advancing the adoption of cutting-edge technologies such as Artificial Intelligence (AI), cloud computing, and Internet of Things (IoT), said the report.

This consensus underscores GCCs' significant contribution to enhancing India's technological landscape and fostering innovation across various sectors, it stated.

The report also said that an overwhelming 94 per cent of respondents believed that GCCs will positively influence and enhance India's overall economic output.

This sentiment underscores the perceived role of GCCs in stimulating economic growth through increased investments, technology transfer, and job opportunities, it added.

However, a small fraction (3 per cent) holds a contrasting view, it added.

Among those participated in the survey, 84 per cent expressed confidence that the establishment of GCCs by multinational corporations in India will lead to improved job availability and increased opportunities for local professionals.

This sentiment reflects the belief that GCCs not only bring advanced technological capabilities but also contribute positively to the local job market by creating diverse employment opportunities, the report noted.

"The findings of our report underscore the growing recognition of GCC as pivotal to enhancing organizational agility and competitiveness in a globalised economy. With a majority of respondents acknowledging the strategic benefits of GCCs, it is clear that these centres are poised to play a transformative role in shaping the future of India's industrial landscape," Genius Consultants CMD R P Yadav told PTI.

Organisations that capitalise on this trend stand to gain a significant advantage in terms of operational efficiency, innovation, and market responsiveness, he added.