India's economic map is being redrawn.
This report is from this week's CNBC's "Inside India " newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.
The Asian powerhouse is home to around 1,800 of such centers — giving it a global market share of over 50%, data from jobs and talent platform foundit shows. One in five GCCs established their base in a tier 2 city in the first half of 2023 so as to reach out to new talent markets, according to the data.
While there is no official tiering of cities in India, a widely accepted classification is based on the population data from the Reserve Bank of India's 2011 census. This comes as employees do not feel their career progression is compromised simply because they are working outside a metropolis, with at least three in 10 being open to taking a job in a tier 2 city today, versus none a decade ago, Garisa said.
"India has been a services led economy which hasn't served it too well in terms of creating the kind of employment we need for the young demographic profile that we have," says TS Lombard's Deveshwar.
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