Global capability centres score may go up in 2nd half of hiring game

Captive service units of multinational companies in India employed around 152,000 people in the first half of 2024, up 14% from the prior six months but 9% below the previous year, according to a survey conducted by Xpheno. More than 75% of hires were due to employee replacements. Semiconductor manufacturing, oil & gas, and food & beverage sectors saw the highest net additions. The survey indicated that hiring trends might pick up in the latter half of 2024, driven by India's tech talent and support from southern states like Karnataka promoting themselves as GCC hubs.