Summary: The article discusses how international companies are setting up their own back offices, known as global capability centres (GCCs), in India to develop technology in-house and save on costs. These GCCs are managed by the parent companies and handle a variety of work, including accounting, data, cloud, and analytics support. This has led to increased competition for talent with traditional IT service providers. The rise of GCCs has caused a “huge war for talent” in India and has been driven by technological innovation and economic pressure. The article also highlights that a study found a third of GCC workers were hired from IT service providers. Global banks are also rapidly expanding their Indian offices. Companies cannot hire the right talent in their own countries, making India an attractive destination. Employees at back offices in India earn average annual salaries ranging from $15,000 to $45,000. ANSR, a company that sets up GCCs, has developed a back-office subscription model for multinational companies, costing roughly $1,300 a month per employee.
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