New Delhi, April 12 (IANS) As global capability centres (GCCs) continue to surge in India, such centres focused on renewable energy, with significant offshoring opportunities across upstream, midstream and downstream, are also growing significantly in the country.
India is witnessing a sharp rise in GCCs focused on areas such as oil and gas, power and utilities, renewable energy, and mining.
The country is one of the leading GCC destinations globally and is the preferred destination for driving an organisation’s GCC journey, with multiple options across Bengaluru, Mumbai, Pune, Delhi-NCR, Hyderabad, Chennai, and others.
“Bridging the gap between India’s burgeoning GCC landscape and its comprehensive energy sector is a story of synergy and innovation. India hosts more than 30 energy sector GCCs, with centres spread across the country dedicated to driving innovation through digital transformation and automation,” according to a latest EY report.
Energy industry leaders have established a considerable presence in Indian cities like Bengaluru, Chennai, and Pune.
These corporations are leveraging India’s strengths to streamline their operations and improve their processes in energy production and distribution, making a significant contribution to the global energy infrastructure modernisation.
India’s energy sector is powered by a diverse and skilled workforce with 2.5 million STEM graduates and 1.5 million engineering students graduating annually.
According to research conducted by EY, more than 20,000 people are employed in energy GCCs, which are pivotal for innovation and responding to increasing energy demands.
The renewable energy sector is witnessing substantial growth, with wind energy capacity reaching 42.8 GW as of April 2023 and projected to grow to 63 GW by 2030.
Also, Bengaluru is becoming a hub for professionals skilled in turbine micro-siting, GIS mapping, and aerodynamic modelling — expertise vital for advancing wind energy infrastructure.
Simultaneously, the hydrogen energy sector is gaining momentum, with key talent clusters in Mumbai, Pune, Ahmedabad, and Chennai. These regions are home to professionals specialising in hydrogen blending, storage solutions, and refinery operations, all critical to supporting India’s transition to green hydrogen solutions.
“The outlook for GCCs in India’s energy sector is promising, offering new entrants a chance to leverage a favourable business environment and skilled workforce. Existing GCCs can boost competitiveness and foster energy industry digital transformation by expanding service portfolios,” said the report.
The GCC market in India has experienced remarkable growth, with the market size reaching $64 billion and a CAGR of approximately 9.8 per cent for FY2019-2024.
Currently, India hosts over 1,700 GCCs, employing more than 1.9 million people and accounting for 55 per cent of the global share.
By 2030, it is anticipated that India will have around 2,200 to 2,500 GCCs, with a market size projected to surge to $110 billion and total employment rising to 2.8 million.
—IANS
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