GCCs wooed by staffing firms in India - Yeh Ishq Nahin Aasaan!

 

India has 23000 staffing/recruiting firms. Bangalore has one in every street!

There is no qualification required, no entry barrier...It is as simple as starting a Pani Puri stall.
There is a new city girl, called GCC, in this sarkari tier 3 town college! Everyone of the aspiring/non inspiring staffing/recruiting firm is trying hard to patao this girl! Videshi girlfirnd ka craze hai bhai! Chapri/Tiktoker type recruiting firm bhi lage hain, baal mein gel laga ke!
There are 1780 such GCCs in India and we have seen , some of them in India for past 25 years..
At CAGR of 11.4% they are expected to be 2400 by 2023 as per EY report!
Goldman Sach's report predicts Indian IT services export to reach $800 bn by 2030! Currently it is $340 bn. Looks like massive growth..
You may ask, how much are GCCs contributing to this $340 bn export; Answer is $43 bn for 2023. 50% of GCCs export Engineering and R&D services, mostly to their parent company! GCCs employee close to 1.7 mn staff in India.
Some upstart Staffing cum Research firms here have been over-enthusiastic about the GCCs and keep sharing recent trends of their hiring. Let me tell you, GCCs are of all hues and not everyone is doing so called "product development" for the world market, using India's unmatched talent! 80% of them do services as their parents ask them to. They are here for labor arbitrage, talent is given.
Other fact is, 50% of them may not have any niche of tech, so they can hire from any company, when cost and skills match. Others hire from a very limited set of firms, who are naturally competitors globally. Regarding core talent, each GCC would not need more than 10 other GCCs and a few other open market firms to meet their needs.
Do you know, how many of these GCCs actually make no money selling their services but just cost arbitrage with parent company, whose 100% subsidiaries they are?
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