Info Edge, the parent firm of Naukri, Jeevansaathi, and 99Acres, expects hiring from Global Capability Centre (GCC) to surpass information technology (IT) recruitment, according to Managing Director and CEO Hitesh Oberoi.
This will depend on how fast GCCs grow and how big they become as smaller GCCs don't use Info Edge’s hiring platform, he added.
“When they set up shop in the country, for the first couple of years, most GCCs start small. They may begin with 100 or 500 people and then scale up over time. It’s when they start expanding that they start using platforms like Naukri a lot more,” Oberoi told analysts after declaring the Noida-headquartered firm’s latest quarterly earnings.
A GCC is a dedicated offshore unit established by a company in a foreign country to in-source IT and related business functions. The development comes at a time when the GCC sector is expected to contribute roughly 3.5 percent to India’s GDP by 2030, generating an estimated revenue of $121 billion by then.
The comments from the Chief Executive of the recruiting platform come at a time when hiring by IT has increased moderately and GCCs are expected to drive the bulk of the software jobs market.
For the third quarter of the financial year 2024-25 (Q3FY25), the company’s net profit was up over 20 percent to Rs 263 crore from Rs 219 crore in the same quarter last year. Revenue from recruitment services rose over 12 percent to Rs 505 crore, with the IT segment growing by 16 percent.
Oberoi highlighted that the real impact on hiring platforms like Naukri will come when existing GCCs ramp up their hiring. “It’s not so much the number of GCCs, but how much the existing ones are likely to scale going forward, that matters more in the short-term for us,” Oberoi added.
Opportunity in Branding
Moreover, Info Edge sees an emerging opportunity in employer branding for GCCs.
As many new GCCs set up operations in India, they are likely to invest in brand building to attract talent.
“There are hundreds of companies setting up shop, but many are not well known in the Indian market. These new GCCs will want to generate awareness about who they are and what they do to attract talent,” he further said.
Also, read: India’s GCC framework in Budget 2025: Industry lauds but urges deeper collaboration
IT sector sees hiring rebound
As outlined by many IT companies in their recent earnings, Info Edge said that most IT companies are back to replacement hiring, which shows a gradual recovery in the job market.
On a nine-month (9MFY25) basis, the top five IT services exporters added 10,412 employees, marking a cautious revival after shedding 57,608 employees during the same period last year.
Moreover, some of them are also aiming to go back to campuses for hiring.
“At least replacement hiring has started in most companies. Campus hiring is also picking up everywhere,” Oberoi told analysts, adding that the overall outlook remains uncertain.
Over the past few quarters, Info Edge has seen a steady improvement in hiring activity. “Four quarters ago, we were flat. Now, our business has grown by 15 percent,” he said.
Recruitment, which was in negative territory a year ago, is now showing growth, Oberoi further said.
Also, read: Quess Corp enters GCC space with new centre for US healthcare wearables firm
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