India: Global accounting firms set up shop in India's smaller cities

[CallSignMaverick]

https://twitter.com/x/status/1680219425621028864

 

[Kingdom come]

https://twitter.com/x/status/1680219425621028864

Good

 

[CallSignMaverick]

GCCs of multinationals may hire half a million in India this fiscal​

Huge numbers, would also mean office space absorption of more than 30 million square feet by GCCs alone. Great news for commercial office developers as well.

A combination of factors including wide availability of specialised skilled professionals, especially in the areas of technology, digital, analytics and AI, as well as a favourable cost environment make India a preferred destination, said top executives at Citi, PwC, EY and Grant Thornton.

According to EY estimates, the GCC headcount in the country is currently about 2 million.

This is estimated to increase to 4.5 million by 2030.

Citigroup, which recently exited its consumer banking business in India, is among those looking at a talent acquisition spree. Head of human resources Sara Wechter said Citi Solution Centres (CSCs) in India will hire at least 5,000 people in the next two years, taking the strength to more than 32,000 from 27,000 now. The focus will be on specialised skills in the areas of engineering, technology, analytics, AI, cloud and risk among others.

"India is a favoured ground for GCCs due to its robust engineering and technology arbitrage, along with a mature startup ecosystem," said Jaspreet Singh, partner, Grant Thornton Bharat. The emphasis on innovation, coupled with cost-effectiveness, enhances the appeal.

PwC India plans to double headcount at its Regional Delivery Centre in next two-three years, said Shirin Sehgal, deputy people officer.

"Over the last two years, our Regional Delivery Centre headcount has been increasing and stands at close to 10% of our total headcount," she said. "The range of services we offer has expanded to include more in-demand skill sets like digital transformation, cyber, forensics, analytics, cloud and emerging technologies like GenAI."

GCCS India: GCCs of multinationals may hire half a million in India this fiscal - The Economic Times

The in-house units of global companies in India across sectors such as banking, financial services and insurance (BFSI), pharmaceuticals, retail, energy, automotive and telecom are set to clock half a million gross hires, including attrition refills, this fiscal year, according to data from...

m.economictimes.com

 

[CallSignMaverick]

https://twitter.com/x/status/1679748881511247876

 

[Tomhawk011]

im really jealous of india now lol

 

[CallSignMaverick]

Big news! A Big-4 company is going to set up operations in Coimbatore city in Tamil Nadu.

 

[Indos]

Big news! A Big-4 company is going to set up operations in Coimbatore city in Tamil Nadu.
View attachment 939249

Why in Tamil Nadu ? Many big Western service companies who set up offices in Indonesia will chose Jakarta.

Why not Mumbai, Bangalore, New Delhi ?

 

[CallSignMaverick]

Why in Tamil Nadu ? Many big Western service companies who set up offices in Indonesia will chose Jakarta.

It is mentioned in the 1st post of the thread. To save costs and also maybe due to the fact that finding talent in smaller cities of India is easier than maybe cities outside Jakarta or Surabaya.

 

[Indos]

It is mentioned in the 1st post of the thread. To save costs and also maybe due to the fact that finding talent in smaller cities of India is easier than maybe cities outside Jakarta or Surabaya.

Well if that is the case, then the strategy is intended to penetrate Indian market. I am sensing local service companies are not happy with this development as their market in middle size companies who set up HQ in tier 2 cities will be penetrated by foreign companies setting up office in India.

 

[CallSignMaverick]

Asian Development Bank to set up International Fintech Institute in GIFT City

https://twitter.com/x/status/1680812741244907521

In past one month:
> Google to set up Global Fintech Operations centre in GIFT City
> Singapore and South East Asia's largest bank DBS to setup base in GIFT City
> French tech giant Capgemini to setup an innovation centre in GIFT City
> Abu Dhabi Investment Authority, the sovereign wealth fund of the Emirate of Abu Dhabi will setup operations in GIFT City.


And now this:
Cygnet receives approval from IFSCA to operate in India’s GIFT City, further strengthening global footprint

Read more at:

Cygnet receives approval from IFSCA to operate in India’s GIFT City, further strengthening global footprint - CXOToday.com

Cygnet FinTech IFSC receives official approval from the International Financial Services Centres Authority (IFSCA) to establish its presence in the (GIFT) City. The approval from IFSCA marks a significant milestone for Cygnet, as it expands its reach to serve global customers in the banking...

www.cxotoday.com

Well if that is the case, then the strategy is intended to penetrate Indian market. I am sensing local service companies are not happy with this development as their market in middle size companies who set up HQ in tier 2 cities will be penetrated by foreign companies setting up office in India.

These are mostly export oriented, and since real estate in India is overpriced, it makes sense to move to smaller cities where talent is abundant and cost of operations is low. Other than that it also helps in distribution of growth instead of concentration into one or few cities.

 

[CallSignMaverick]

ServiceNow opens innovation centre in Hyderabad

https://twitter.com/x/status/1680878882965078017

Applied Materials to establish collaborative engineering centre in Bengaluru for $400 million

Expected to be located near Applieds existing campus in Bengaluru, the company said that in its first five years of operations, the centre is expected to support more than $2 billion of planned investments.

economictimes.indiatimes.com

Wayfair opens tech development centre in Bengaluru - CIO News

Wayfair, the US-headquartered ecommerce company focused on home products, has opened its India Technology Development Centre (TDC) in Bengaluru and aims to

cionews.co.in

Magna opens Asia innovation Campus in Bengaluru to support global projects - ET Auto

Innovation Campus: The campus – spanning 2,39,000 sq.ft. – will be the centre of Magna’s R&D activities in Asia and will support various global projects. Company leadership was joined today by employees, customers and public officials to inaugurate the new location.

auto.economictimes.indiatimes.com

Atlanta-based Greenlight sets up Development Centre in Bengaluru

Greenlight has so far hired around 40-50 people for the India office. It has a total headcount of around 500 employees.

www.moneycontrol.com

Mercedes-Benz announces creation of 1,000 R&D jobs in India

Mercedes-Benz Research and Development India will create jobs for more than 1,000 engineers at its Bengaluru centre.

www.investmentmonitor.ai

https://twitter.com/x/status/1668267224467906567

 

[CallSignMaverick]

 

[CallSignMaverick]

https://twitter.com/x/status/1682223939966361600

https://twitter.com/x/status/1682225829873582080

 

[pikkuboss]

https://twitter.com/x/status/1682223939966361600

https://twitter.com/x/status/1682225829873582080

Bro create new threads + post here. Give double whammy.

 

[CallSignMaverick]

USA Based Cistron Technologies India office in Tiruchirapalli city (also known as Trichy in short), Tamil nadu.

Nokia, TSSC open 5G skill development centre in India​

Nokia, TSSC open 5G skill development centre in India

Finnish telecom gear maker Nokia on Monday announced a collaboration with Telecom Sector Skill Council (TSSC) and Ahmedabad-based Kaushalya — The Skill University, to set up a Nokia Centre of Excellence (CoE) in fifth-generation (5G) skill development in Gujarat’s ITI Kubernagar.

www.techcircle.in