Global captives or Global In-house centers are an integral component of the fast growing Indian IT-ITES sector. In 2012, there were about 760 GICs operating out of India and that number has gone beyond 1000 in 2015. The GIC’s are spread across multiple locations accounting for USD 19 billion of export revenues, almost 21 per cent of the industry export revenues and employs over 7.50 lakhs employees.
GICs operate in India across all service lines - IT services, BPO, Engineering services and software product development. BFSI, software, telecom and semi-conductor are the key industry verticals with growing concentration in aerospace, healthcare, pharma and biotech.
GICs have traditionally been viewed as cost centers for parent organizations. However, with the growth of the global sourcing sector, captives in India are evolving into centers of excellence, profit centers, program management offices and an innovation hotbed for emerging markets.
NASSCOM has a separate GIC forum in the locations at Bangalore, Chennai, Hyderabad, Mumbai, Northern region and Pune. Members can participate in the forum meetings as appropriate. The forum has a National council with an Elected Chair and Regional GIC Councils to drive its activities and initiatives.