Latest news with #tierIIcities
Yahoo
a day ago
- Business
- Yahoo
GCCs drive finance and accountancy jobs in India: ACCA
A new report from the Association of Chartered Certified Accountants (ACCA) highlights how India's global capability centres (GCCs) are boosting economic growth by driving services exports and creating finance and accountancy jobs. GCCs in India are transforming from back-office support hubs to global value creators, leading innovation and technological advancements for international corporations, the association said. These centres are expected to contribute 2% of India's GDP and generate 2.8 million jobs by 2030. In FY24, GCCs generated approximately $64.6bn in export revenue, a 40% increase from $46bn in FY23. By 2030, 20,000 global leadership roles are projected to be based in India. The growth is supported by a skilled workforce, expansion into tier-II cities, favourable government policies, and improving infrastructure. As GCCs mature, finance roles are evolving beyond traditional boundaries to focus on process improvement and cost transformation initiatives. Opportunities are expanding in business partnering, procurement, reporting, planning, and analysis. Entry-level roles now focus on data analytics, FP&A, and compliance management, while mid-level roles drive process improvements and transformation. ACCA said that finance professionals need to develop higher skills and capabilities, including an understanding of finance functions, comfort with data and digital tools, and the ability to collaborate with global teams. Successful collaboration among state and non-state actors is crucial to managing risks and maximising momentum, it added. India requires a comprehensive GCC strategy supported by policymakers to promote innovation, create skilling initiatives, and streamline regulations. ACCA policy and insights lead for India and report author Pooja Chaudhary said: 'The report highlights the factors driving GCC success in India and what's needed to sustain it. Strong leadership, cross-cultural talent, and collaboration between global and local teams are key to running a successful GCC. 'As GCCs take on more strategic roles, they must work with policymakers to streamline regulation and partner with academia to bridge skill gaps while continuing to create value through innovation and alignment with the parent organisation.' Earlier in July 2025, ACCA published a report on AI implications for the accountancy sector, highlighting the need for finance teams to adapt to new roles and responsibilities. The AI Monitor report suggests that AI will transform the accountancy profession by changing task execution at all levels. It emphasises the need for human oversight, focusing on "human interaction, transparency, and oversight" to ensure AI systems adhere to professional standards and regulations "GCCs drive finance and accountancy jobs in India: ACCA" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Entrepreneur
19-06-2025
- Business
- Entrepreneur
CLR Facility Services Secures USD 15 Mn Investment from BII
The funding will be directed toward CLR's nationwide expansion, workforce development, and vocational training initiatives aimed at empowering underserved communities across India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. British International Investment (BII), the UK's development finance institution and impact investor, has invested USD 15 million (approximately INR125 crore) in CLR Facility Services, a Pune-based integrated facility management firm. The funding will be directed toward CLR's nationwide expansion, workforce development, and vocational training initiatives aimed at empowering underserved communities across India. Founded in 2002 by Gaurav Pathak and Gautam Pathak, CLR Facility Services provides a broad range of facility management solutions, including cleaning, engineering and mechanical maintenance, and production support. Operating across nine Indian states, the company currently serves over 160 corporate clients and employs more than 20,000 blue-collar workers. With the fresh capital infusion, CLR aims to more than double its workforce to 50,000 over the next five to seven years, with a particular focus on hiring women and individuals from underserved communities. Part of the investment will also fund the establishment of vocational training centres in tier II cities to enhance skill development for unskilled and semi-skilled workers. "Partnering with BII marks a pivotal moment in our journey toward inclusive and sustainable growth. This investment will empower us to create more opportunities for our workforce, drive innovation in facility management, and extend our impact across new markets," said Gaurav Pathak and Gautam Pathak, Promoters and Directors of CLR Facility Services. Beyond workforce expansion, CLR plans to strengthen its environmental and social risk management systems and improve health and safety protocols for its employees. Currently, women constitute approximately 25% of CLR's workforce, and the company is actively investing in structured training programs focused on upskilling and promoting inclusion. BII's Managing Director and Head of India, Shilpa Kumar, commented, "In India, over 80% of the workforce, excluding agricultural workers, is in the blue and grey collar sectors that drive the country's economic growth. As the UK's DFI, we focus on supporting inclusive growth by enabling better job and training opportunities for underserved groups. We are delighted to support CLR's vision, which aligns with the Government of India's initiatives in driving inclusive employment." The investment aligns with BII's broader strategy to foster productive, sustainable, and inclusive economies. With USD 10.8 billion in total net assets, BII is a founding member of the 2X Challenge, an initiative that has mobilised over USD 33.6 billion for women's economic empowerment, and has committed to directing at least 30% of new investments to climate finance between 2022 and 2026.
