June - 2014 - issue > In My Opinion
Managing & Developing GICs in India
Vijay Ratnaparkhe
Managing Director and President-Robert Bosch Engineering and Business Solutions
India is a most sought-after destination of Global In-house Centres (GICs). NASSCOM data says that as of end 2013, India is slated to have more than 750 captives and the world's six largest software corporations employ around 20 percent of the workforce in India. Today, India is a leader in the global outsourcing landscape with 52 percent share in the global outsourcing market.
In the 90s, organizations setup the GICs which later on went ahead and attracted other third-party units to begin their operations in India. These third-party units, in turn, roped in big customers during the times of recession in western market. With good business at hand and benefits like cost effectiveness and talent availability at hand, more and more companies started establishing their presence in India.
Today, we have not only GICs entering the R&D foray in India but also the local Indian players have grown big and have their own R&D facilities with huge investments and revenues.
Out of the hundreds of captives or GICs in India, only few have managed to grow in a bigger way, operating today as a second largest development centres outside of the parent country. Today, what we refer to as GICs are organizations which have their established origin at a location in another country (mostly in a developed country) and as a part of their globalization campaign and to expand their operations, they have their units in India.
In my opinion, there are a few criteria which would enable a GIC to grow, along with providing the required services to the parent company. Identification of the right vision and strategy forms the critical criteria of this aspect. A good and a well-directed vision will help look at different strategies for growth. Vision would enable the organization to guide the employees to work towards it.
Reader's comments(3)
1:what is this word \"ideation\" and \"productization\" where did you find such words? I have not seen such terms anywhere before..
2:Also i had been applying for a job in your website through reference.I never got even receive a call or mail the feedback.
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