Hyderabad, April 21 (IANS) India is the number one location for setting up Global In-house Centres (GIC), owing to value proposition extending beyond cost and efficiency to innovation and digital transformation, said industry body Nasscom on Thursday.
"GICs are an integral part of the Indian IT-BPM sector and have played a stellar role in contributing to the growth journey of this industry. The Nasscom GIC Council over the last few years has helped bring diverse GICs together across verticals and geographies and built an ecosystem for this sector," said Nasscom chairman C. P. Gurnani at the opening day of the sixth edition of GIC Conclave, a statement said.
Themed 'Multinational companies demonstrate high inclination to setup GICs in India', the two-day conclave is focusing on 'Transforming the Global Enterprise' with an aim to sharing perspectives on the role of GICs in the transformational journey of enterprises.
Nasscom GIC Council chair Navneet Kapoor said: "A key theme for the Nasscom GIC Council is to enable the Neo GIC that can help build new sources of value for enterprise digital transformation."
He added that today's GICs are focused on catalysing innovation and are actively building programs for partnerships with start-ups, apart from enhancing internal capabilities.
According to the statement, GICs in India, numbering more than 1,050 in 2016, contribute a 20 percent share to the IT-BPM industry exports and account for a revenue of $22 billion.
As many as 7.90 lakh people work in the in-house centres while nearly 20 percent of all the new GICs in 2016 were established in India, the statement said.
Known earlier as Global Captives, the GICs operate across all service lines of IT, BPM, engineering services and product development.
