Offshoring is experiencing a new wave in India, as large banking, insurance and financial services multinational companies (MNCs) expand operations. They are hiring by the thousands to grow the capacity of existing and future global in-house centers (GICs) in the region.
It is expected that more than 200 new GICs will open in the next three years. Areas of focus include AI, machine learning, platform engineering, cloud computing, cybersecurity and business analytics, among others. Companies have a ready pool of available talent in India, with the necessary skills to innovate and support a full range of digital capabilities.
“The pandemic has enabled people to work from anywhere, so multinationals are leveraging locations like India where skilled talent is available … ," said Harish Pillai, director and country head, Randstad Sourceright. “They prefer to have multiple locations so that in case of situations like lockdowns, business is not disrupted," Pillai added.