Why India is seeing a reskilling boom right now
What's the story
India's reskilling market is booming, thanks to the rapid growth of Global Capability Centers (GCCs) in the country. The rise of these centers has created a huge demand for advanced digital and technical skills, making international players take notice of Indian professional markets. Top executives and experts in reskilling have said that investing in such programs is now a key strategy for many global firms.
Strategic hubs
GCCs are now focusing on internal competencies
GCCs, also known as Global In-house Centres or Captive Centres, are fully owned and integrated hubs set up by multinationals in talent-rich locations. They utilize global talent pools and technological advancements to improve organizational capabilities and drive business transformation. Amit Goyal, Managing Director of Project Management Institute South Asia, said that companies are now focusing on internal competencies through structured 'study-at-work' and upskilling initiatives.
Employee development
Investing in employee development is a competitive advantage
Goyal further added that corporates are realizing that investing in employee development is not just a retention strategy but also a competitive advantage. He said, "Global Capability Centres are playing a pivotal role in this transformation. Many are actively sponsoring learning programs to ensure their workforce is equipped with the critical skills required to stay relevant and drive innovation."
Talent retention
Upskilling is now a true differentiator for GCCs
Smitha Hemmigae, Managing Director of ANSR, emphasized that every GCC today knows that upskilling and well-defined career pathing are no longer "good to have" but a true differentiator for attracting and retaining top talent. She said, "Unlike traditional delivery roles, GCC careers are increasingly positioned as leadership tracks, where employees can see a clear pathway to senior, global, and cross-functional positions."
Workforce analysis
Report highlights need for industry-specific skilling
A report titled "Skills for the Future: Transforming India's Workforce Landscape" by the Institute for Competitiveness, revealed that 88% of India's workforce is in low-competency occupations. The report also identified five sectors accounting for over 66% of vocational training in India: IT and ITeS, Textile and Apparel, Electronics, Healthcare and Life Sciences, as well as Beauty and Wellness. It suggested industries must be incentivized to recruit from a skill-certified talent pool.
Economic impact
Explosive growth of GCCs in India
As per the Association of Chartered Certified Accountants, GCCs are set to contribute 2% of India's GDP and create 2.8 million jobs by 2030. The growth of GCCs is most prominent in Tier-1 cities with Bengaluru leading with 487 centers, followed by Hyderabad (273), NCR (272), Mumbai, Pune and Chennai. In FY24 alone, GCCs generated approximately $64.6 billion in export revenue, a whopping 40% increase from the previous fiscal year.