In recent years, Global Capability Centers (GCCs) in India have undergone significant changes. These centers have shifted from their traditional roles to actively engage in high-value activities such as automation, risk data aggregation, cloud security, and governance. As a result, they are now viewed as strategic partners within organizations and have established Centers of Excellence (CoEs) for niche capabilities.
A recent study revealed that 86% of GCCs in India, along with 80,000 to 85,000 digitally skilled graduates, believe that having the right skills is the primary driver for success. Additionally, 74% of GCCs compared to 52% in 2018 feel that cyber and technology-related risks should be managed across different time zones, showing a significant increase in the importance of being operational around the clock. Furthermore, 61% of GCCs in 2020 believed that cost arbitrage plays a crucial role in making functions more efficient when managed from India.
The cyber and technology risk functions within the BFSI (Banking, Financial Services, and Insurance) GCCs in India have also expanded their services. With 41% of GCCs having a quarter of their information security staff in India, there has been an increase in the number of security services managed from India. These services include cyber strategy, governance, risk assessment, threat response, crisis management as well as new-age functions like emerging technology risk
