The US mortgage industry has seen record-breaking figures in 2020 amongst the global pandemic with the value of US mortgages rising to 16.56 Trillion. As the Federal Reserve took the interest rates to record low levels to accommodate the ongoing situation, there was a spurt in growth in loan origination.
70% of India-based GCCs belong to US-headquartered companies, followed by 20% from Europe and 10% from the Asia-Pacific region. On average, these GCCs help their parents save up to 45% in operational costs over a three to five year period.
India houses over 1800+ Global Capability Centers, which amounts to 50% of GCCs globally. Domestically, GCCs employ over 1.2 million employees, generating a total economic value of around $28.3 billion.
