EPAM Systems Sees Robust Growth in India Driven by GCCs India is a key talent hub for EPAM Systems with about 9,000 engineers based here out of its total headcount of about 50,000.
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NYSE-listed digital engineering company EPAM Systems is witnessing robust growth from the global capability centers (GCCs) in India that are investing heavily in technology solutions especially in areas of data and cloud.
"About half our business here in India comes from GCCs. We do a lot of high-end engineering and cloud native work for our clients who are willing to pay a premium for it," Srinivas Reddy, Managing Director, EPAM India told Entrepreneur India. "The GCCs are from various sectors including BFSI, life sciences and healthcare, retail, and manufacturing."
The number of GCCs set up in India has increased to 1,700 in the fiscal year 2024 ended March, generating $64.6 billion in export revenue and employing over 1.9 million people, as per the latest Nasscom-Zinnov "India GCC landscape" report. This presents a significant business opportunity for IT firms like EPAM which are supporting the GCCs with adoption of AI and other emerging technologies, ensuring they can keep pace with the dynamic business environment while maintaining quality.
India is a key talent hub for EPAM Systems with about 9,000 engineers based here out of its total headcount of about 50,000.
"We believe, we will be 10,000, in around 3-4 months, maybe in Q1 of next year. In a couple of years, we have plans to get to 15,000. That's our commitment and it's in pace with the growth we have been having over the last 3-4 years. In India we have strong demand and honestly somewhat supply constrained today," Reddy said.
EPAM is leveraging artificial intelligence (AI) and generative AI (GenAI) to help clients in their product and engineering roadmap.
"With specified roles and expectations, our upskilling programs cover techniques and practices to harness ChatGPT, Copilot and other tools for practical AI implementation. At EPAM India, 4,000 engineers are trained in prompt foundation, over 2,500 have acquired skills in AI-integrated SDLC (Software Development Life Cycle) and 1,000 are actively engaged in AI-related projects," Reddy said.
Currently, EPAM in India operates out of five major cities – Hyderabad, Pune, Bengaluru, Gurugram, and Chennai. In terms of expansion to tier-2 cities, Reddy said, the company is "opportunistic about it" and it may expand to more locations in the next one year or so.
EPAM, listed on the NYSE, clocked revenues of US$4.7 billion in FY23, down 2.8% from the previous year due to an uncertain economic environment and disruptions due to the war in Ukraine and exit of operations from Russia.
