India continues to be the world's leading location for GICs with more than 825 GICs operating across multiple locations currently, generating revenue of USD 15.5 billion and employing nearly 5.3 lakh people. India is the only location that allows GICs to offer an entire spectrum of technology services - IT services, BPM, ER&D, software products - spread across 50 Tier I/II/III cities. Traditionally viewed as cost centers for their parent organizations, GICs in India are rapidly maturing and moving up the value chain, evolving into centers of excellence, profit centers, program management offices and an innovation hotbed for emerging markets.
In addition to cost savings, GICs today are expected to drive enhanced value through risk mitigation, expanding existing business portfolio, and enabling new services. While India's cost advantage is expected to sustain for well over two decades, GICs now look at India as the numero uno destination to create tangible business impact.