Brigade Group to expand its presence in Chennai

23 Feb 2024 CW Team

The report highlights Bengaluru's and Hyderabad's appeal due to several factors, including their robust infrastructure, skilled workforce, favorable business environment, and supportive government policies. These cities have become hotspots for companies across various industries looking to leverage the talent pool and cost-effectiveness offered by these regions.

Capability centers, also known as shared service centers or global in-house centers, play a crucial role in companies' operations, providing a range of services such as IT support, finance and accounting, human resources, research and development, and customer service. With the increasing globalization of businesses, the demand for such centers has been on the rise, driving the growth of cities like Bengaluru and Hyderabad.

The report further predicts sustained growth in demand for capability centers in these cities, fueled by factors such as the continued expansion of multinational corporations into India, the rise of digital transformation initiatives, and the increasing focus on cost optimization and operational efficiency.

Bengaluru, often referred to as India's Silicon Valley, has long been a preferred destination for technology companies, while Hyderabad has gained prominence as a hub for IT and pharmaceutical industries. Their ability to attract and retain top talent, coupled with supportive infrastructure and conducive business environment, positions them as frontrunners in the global market for capability centers. As businesses continue to seek opportunities for growth and efficiency, Bengaluru and Hyderabad are poised to maintain their dominance in this critical sector.

According to a report by Colliers, Bengaluru and Hyderabad have emerged as dominant players in the global market for capability centers, accounting for a staggering 60% of the total demand. These cities in India have witnessed a significant surge in demand for such centers, indicating their growing importance as strategic locations for businesses seeking to establish or expand their operations. The report highlights Bengaluru's and Hyderabad's appeal due to several factors, including their robust infrastructure, skilled workforce, favorable business environment, and supportive government policies. These cities have become hotspots for companies across various industries looking to leverage the talent pool and cost-effectiveness offered by these regions. Capability centers, also known as shared service centers or global in-house centers, play a crucial role in companies' operations, providing a range of services such as IT support, finance and accounting, human resources, research and development, and customer service. With the increasing globalization of businesses, the demand for such centers has been on the rise, driving the growth of cities like Bengaluru and Hyderabad. The report further predicts sustained growth in demand for capability centers in these cities, fueled by factors such as the continued expansion of multinational corporations into India, the rise of digital transformation initiatives, and the increasing focus on cost optimization and operational efficiency. Bengaluru, often referred to as India's Silicon Valley, has long been a preferred destination for technology companies, while Hyderabad has gained prominence as a hub for IT and pharmaceutical industries. Their ability to attract and retain top talent, coupled with supportive infrastructure and conducive business environment, positions them as frontrunners in the global market for capability centers. As businesses continue to seek opportunities for growth and efficiency, Bengaluru and Hyderabad are poised to maintain their dominance in this critical sector.