GlobalLogic’s CEO, Nitesh Banga, predicts that India’s IT sector will gain significantly from the slowdown brought by the layoffs by Big Tech in the US. The company is looking to acquire talent in India and grow its employee base by 25-35% every year. India contributes approximately 30% to GlobalLogic’s total revenues, and the India business recorded growth of 20-25% until three years ago and 30-35% in the last two years. Banga believes that India’s growth can be even faster, as the need for digital transformation will continue across sectors, leading to significant gains for India’s IT and digital sectors. In addition, collaboration with Hitachi in areas such as Metaverse, Web3, and digital supply chains has contributed to GlobalLogic’s big growth ambitions, including a strong push for inorganic growth.
GlobalLogic CEO Nitesh Banga predicts that the layoffs by Big Tech in the US will bring a lot of work to India. The country’s IT sector is poised to gain significantly during the slowdown. The company is looking to acquire talent in India and plans to grow its employee base by 25-35% every year. India is not going to see much of a slowdown even though there are a lot of layoffs happening in the US. Google, Twitter, or Facebook and any of these customers will still need to continue to do their work. A lot of that work will come to India because they will still need the talent to keep doing the work, although they will look for cost efficiencies.
The Hitachi group IT company has approximately 50% of its global employee base, close to 15,000, in India. It hires close to 1,000 people a month, 50% of which are in India. The company hires IT and IT-enabled service segment engineers with 2-3 years of experience and then upskills them to become digital engineers.
The company specializes in cutting-edge, deep product development, be it embedded technologies, cloud, network, or apps. A premium luxury carmaker designed its gesture-based car experience system in Bengaluru, and 80 to 90% of aircraft engine design and new generation efficient engines design is being done in India.
Banga said there is a conversation that international firms are planning to set up 500 new GCC or engineering centers in India in the next three years. The equation is no longer about cost arbitrage but about value arbitrage and skill and talent capabilities. The integration with Hitachi has added new industry verticals to GlobalLogic like energy, railways, mobility, and connected industry.
GlobalLogic’s President and CEO, Nitesh Banga, stated that the company has big growth ambitions, including a strong push for inorganic growth. Collaboration with Hitachi in areas such as Metaverse, Web3, and digital supply chains has contributed to these ambitions. India contributes approximately 30% of GlobalLogic’s total revenues, with the India business recording growth of 20-25% until three years ago and 30-35% in the last two years. Banga believes that India’s growth can be even faster, as the need for digital transformation will continue across sectors, leading to significant gains for India’s IT and digital sectors in the current economic slowdown.
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