Why Noida Is Emerging as a Preferred Destination for GCC Expansion
By Gaurav Raj Mittal, CEO and Co-Founder, Ofis Square
There is a dramatic change occurring in the India Global Capability Centre (GCC) ecosystem. What used to be a predominantly Bengaluru-Hyderabad focused GCC story has transformed to include new business corridors that provide scalability, infrastructure, talent pool accessibility, and operational efficiency, marking a new chapter for GCCs in India. Noida has emerged as one of the most attractive locations for GCC growth in the northern part of India.
The reason for this change is quite obvious. GCCs are no longer regarded by global firms just as back office support centres. They have become innovation and technology centres providing end-to-end support in the areas of analytics, R&D, finance, customer experience, and digital transformations. In this context, the requirement for nimble, cost-effective, and enterprise-grade working spaces or dedicated GCC space has become paramount.
Noida comes with all the right advantages that will make it an attractive destination for any global corporation planning to set up a global capability center.
One of the largest pull factors for GCCs toward Noida includes the element of connectivity and infrastructure. It is an established fact that Noida enjoys good connectivity not only to other parts of Uttar Pradesh but even to Delhi, Gurugram, and Greater Noida through expressways, metro rail networks and future infrastructure projects including the development of the Noida International Airport at Jewar. This seamless connectivity makes the region a prime hotspot for any GCCin Delhi NCR.
A very important factor in favor of Noida would be the cost-efficiency aspect. As compared to the saturated markets of office spaces where real estate prices may be quite expensive, Noida represents a market where lower costs can be achieved for real estate without compromising on Grade-A commercial infrastructure for companies. This would become important in terms of flexibility and scalability for businesses looking to set up a GCC in Noida without additional financial burden.
An important element to consider is the increasing trend of managed offices in the wake of flexible work spaces which GCCs are adopting more and more across India. As opposed to traditional leasing of office space which involves long process of set up and high capital outlays, flexible workspace offers instant access to ready-made infrastructure and scaling of operations easily, whether establishing a facility in Noida or setting up a GCC in Gurgaon.
Therefore, the growing network of enterprise-level co working and managed office space options in Noida is playing a key part in attracting multinational companies to invest there. The workspace needs of the present day go way beyond office furniture; they encompass productivity, collaborative potential, positive employee experience, and quick to market. The development is especially important in case of GCC companies that are considering investing in the country for the first time.
Moreover, a robust talent ecosystem makes the city highly attractive for corporate investment. Possessing good access to major universities, engineering colleges, technology talents, as well as a sizable number of professional workers throughout NCR, the city offers the flexibility of fast recruitment and expansion for any business looking to operate here. Finally, flexible work models have led many to think about decentralized office solutions outside crowded metro areas.
A final trend is rising enterprise-level trust towards flexible workspace providers. Traditionally seen as solutions meant for startups, co-working and managed office space facilities are gaining popularity among enterprises and multinational corporations. The future of the flexible workspace market in India is predicted to be very bright, largely thanks to GCC demand.
Noida has seen yet another development that has added to its increasing prominence. Several multinationals are working on growing their presence in the area while newer IT parks, innovation corridors, and commercial areas keep on enhancing its overall business prospects.
It is clear that flexibility, scalability, and efficiency have emerged as critical considerations when companies think about their workplace strategies in the constantly changing business landscape. Noida occupies a unique position with regard to these considerations, thanks to its emerging commercial ecosystem, improving infrastructure, growing talent base, and strong flexible workspaces market.
This creates an unparalleled opportunity for workspace operators and business ecosystems builders to assist enterprises in their journey towards building their next level in India.
Disclaimer: Views expressed in this article are those of the author, and not necessarily of Realty&More.
