No, Genpact is not an Indian company. It is an American multinational company specialising in information technology services, consulting and outsourcing. Genpact was founded in the year 1997 as a business unit of General Electric but became an independent entity in the year 2005. The company is registered in Bermuda but headquartered in New York City, United States.
Genpact offers numerous services, including business process management, digital transformation, IT services, finance and analytics, data analytics, supply chain management, customer services and artificial intelligence. The company serves many industries, including manufacturing, retail, healthcare, technology and financial services. Genpact is present in multiple countries worldwide, with India being its major hub of operations.
| Details | Info |
| Founded | 1997 |
| Founder | General Electric |
| Headquarters | New York City, United States |
| CEO | Balkrishan Kalra |
| Sector | Information Technology, Consulting, Outsourcing |
Company History
Genpact was founded in the year 1997 as a subsidiary of General Electric in India and was named GE Capital International Services. It commenced operations in Gurgaon, India by providing business outsourcing solutions like finance, customer service and accounting for GE’s global businesses. GECIS expanded rapidly by establishing delivery centres in other cities in India and other countries like China and Mexico. By 2001, the company was handling a wide range of services like analytics, IT support and supply chain management for GE.
In the year 2005, GE spun off GECIS to form an independent company named Genpact. By 2010, Genpact had diversified its services into multiple industries like banking, healthcare, insurance and manufacturing. Apart from expanding its India operations, Genpact opened new delivery centres in Latin America, Romania and Philippines.
In the 2016-20 period, Genpact ventured into artificial intelligence, cloud technologies and robotic process automation.
Current Status
Genpact operates in over 30 countries with major delivery centres in India, United States, Philippines, Mexico and Eastern Europe. It has a workforce exceeding 125,000 employees, with a major portion of the workforce in India. The company serves clients in multiple industries, including healthcare, financial services, insurance and manufacturing.
Genpact has recently announced the launch of a new AI solution for the insurance sector. It is designed to streamline personalisation, customer experience and risk assessment for insurance companies.
Future Outlook
Genpact is seeking to achieve high growth on the back of AI solutions, digital operations and advanced technology solutions. The company is likely to increase its growth and earnings in the next few years, driven by rising demand for AI-powered services in multiple sectors like financial services and insurance.