Summary:

The rise of global capability centres (GCCs) in India, fueled by increased demand for IT workers, has led to significant compensation differences compared to IT services providers. GCCs offer 12-20% higher salaries, with yearly earnings ranging from US$ 11,562.21 to US$ 51,255.16 for software engineers. In contrast, IT industry wages range from US$ 6,794.29 to US$ 21,336.45. Currently, 1,600 GCCs employ 1.66 million people, with an additional 800 planned in the next 5–6 years.

Despite the growth of GCCs, the sector faces a skills gap, with only 2.5% of engineers proficient in AI and 5.5% in core programming. To address this, 86% of Indian enterprises are retraining their IT staff. Cloud investment is expected to increase by 25-30% over the next five years. Gender parity issues persist, with a 10-30% salary disparity for women in technology professions.

Source: IBEF 

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