Global Capability Centres (GCCs) in India are offering salaries up to 20 per cent higher than traditional IT services, according to a latest report. With India’s tech sector projected to reach USD 350 billion by 2025, the expansion of GCCs is a big factor, as these centres now employ over 1.66 million professionals across the country.
India is anticipated to welcome an additional 800 GCCs over the next 5-6 years, pointing to the nation’s growing importance as a global tech hub. Such a growth is not limited to traditional tech cities, with tier-II cities like Kolkata, Ahmedabad and Vadodara emerging as new hotspots for GCC expansion, as per the TeamLease Digital report.
Salaries In GCCs Vs IT Services
The report revealed that AI/ML engineers within GCCs can expect starting salaries of around Rs 8.2 lakh per annum (LPA), with senior professionals earning up to Rs 43 LPA. In comparison, Big Data developers in the IT services sector see salaries ranging from Rs 9.7 LPA at entry-level to Rs 20.7 LPA for those with significant experience.
The report also mentioned a rising demand for advanced digital skills, particularly in areas such as PyTorch, AWS, DevOps, NLP, Kubernetes and blockchain technologies. Interestingly, certain skills, including Sketch, UI Path and Splunk, are seeing a decrease in demand as the needs of the ech industry evolves.
In the IT products and services sector, cloud investment is expected to grow by 25-30 per cent over the next five years, with the sector expected to contribute 8 per cent to India’s GDP by 2026. This growth is set to create approximately 14 million jobs.
Tech In Non-Tech Industries On Rise
The report also noted the increasing integration of technology in traditionally non-tech industries like Telecom, Media and Entertainment, BFSI, and Energy and Utilities. These sectors are dedicating more than 20 per cent of their technology budgets to digital advancements, further expanding the tech talent pool, which is expected to grow at a compound annual growth rate (CAGR) of 7.86 per cent, reaching 11.15 lakh professionals by FY 2027.
“By H1CY25, approximately 85 per cent of high-tech companies and over 70 per cent of firms in telecom, media, entertainment, BFSI, and energy sectors will dedicate substantial portions of their technology budgets to digital advancements. This strategic alignment positions India not just as a participant but as a leader in the global technology arena,” said Neeti Sharma, CEO, TeamLease Digital.
_20240913132025_original_image_35.webp)
