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GICs of technology and communication firms form a considerable share, both in terms of numbers as well as scale. BFSI firms lead the market share in terms of headcount. Activity in the BFSI vertical is led by large firms (>US$10 billion) as they typically set up large-scale GICs (>2,000 FTEs) for delivery of back-office and middle-office functions.
In terms of scale, among leading industry verticals, healthcare continues to constitute the smallest share in the overall GIC landscape; however, in terms of number of GICs, E&U is the smallest vertical. Share of other emerging verticals such as chemicals, hospitality & tourism, and business & professional services increased to 19% as of 2016, as compared to 15% in 2015.
