As per industry reports GCC (Gulf Cooperation Council) companies in India are rapidly growing in number and are estimated to employ over 3.6 lakh people in the country in the coming year
Mumbai, NFAPost: The demand for tech talent has surged in GCC companies in India and other non-tech firms that are going digital as organisations are looking at rapid expansion across the country, according to a report.
As per industry reports GCC (Gulf Cooperation Council) companies in India are rapidly growing in number and are estimated to employ over 3.6 lakh people in the country in the coming year, business service provider Quess Corp’s Skills Report FY23 revealed.
Therefore, it came as no surprise that India has become an important hub for GCC firms and other multinational companies to expand their footprint and seek innovation prospects in the country and this shift is also increasing regional diversity in the industry with a rapid expansion of tech talent footprint across tier II and III cities such as Jaipur, Coimbatore, Indore and Kochi.
Interestingly, it said that about 20 per cent of the lateral movement from IT firms has been absorbed into GCCs and other non-tech firms that are going digital in India.
Given the global banking crisis and an unprecedented wave of employee layoffs, hiring has been muted in the fourth quarter of FY23.
“While hiring requirements continue to come in as most firms are still in a wait-and-watch mode, GCCs and Indian enterprises continue to add some numbers whereas services have seen a slowdown,” Quess IT Staffing CEO Vijay Sivaram said.
“We do expect to see some positive resurgence in the coming months as organisations make plans to backfill critical skills but may reduce their bench strength,” Sivaram said.
The report is based on data from Quess IT Staffing’s operations which map demand and supply in the talent ecosystem.
The report further revealed that tech talent recruitment has been largely dominated by Bangalore (55.23%), Hyderabad (12.16%), Pune (9.95%), Chennai (9.48%), National Capital Region (5.67%) and Mumbai (5.30%).
