Zema Global’s India GCC: How EPAM’s BOT Model Made It Possible

Zema Global’s India GCC: How EPAM’s BOT Model Made It Possible

In India, GCCs (Global Capability Centers) have emerged as a strategic imperative for multinational companies aiming to scale their operations, reduce costs, and gain access to top-tier talent. Zema Global's partnership with EPAM to set up a GCC in Navi Mumbai is a prime example of this trend and highlights India's increasing importance in the global technology and analytics landscape.

The expansion into India aligns with the Indian government’s renewed focus on bolstering Global Capability Centers (GCCs), as outlined in the Union Budget 2025-26. The budget introduced a National Framework for GCCs in Tier-2 Cities, encouraging multinational firms to establish operations beyond metro hubs.

With a dedicated ₹500 crore allocation for AI Centers of Excellence, India is positioning itself as a global leader in AI-driven solutions—an area central to Zema’s data analytics expansion.

These initiatives create a favorable ecosystem for companies like Zema, ensuring access to a skilled workforce, advanced digital infrastructure, and government-backed incentives that accelerate business growth.

Zema Global: A Leader in Energy and Commodity Data

Formed through the merger of ZE Power Group and the Morningstar Commodity Data business, Zema Global has emerged as a leading global provider of energy data management and analytics. The company offers mission-critical data aggregation and curation services to a diverse clientele, including oil and gas majors, utility firms, renewable energy companies, and financial institutions.

Zema is well positioned to scale up operations with a workforce over 300 employees, including 55 in India, to satisfy the growing demand for energy-related knowledge.

Andrea Remyn Stone, CEO of Zema Global, highlighted the significance of reliable and detailed data in today's energy industry:

"We aggregate the broadest catalog of high-quality energy and commodity data and help firms curate this into a data master, enabling them to make mission-critical decisions."

Why India? Why Mumbai and Pune?

India's robust talent pool in data analytics, financial services, and AI-driven solutions made it a natural choice for Zema's GCC expansion. The cities of Mumbai and Pune, renowned for their deep expertise in financial and commodity data, were selected as key locations for the company's operations.

"The talent here is exemplary," noted Stone. "Mumbai and Pune have a strong workforce that understands complex financial services data, AI, and analytics. Many of our leadership team members have prior experience in these areas, making India a natural fit for our expansion."

Beyond talent, India's strategic role in global energy markets provides a compelling business case for Zema's expansion. With Indian enterprises increasingly relying on data-driven decision-making for energy trading and risk management, Zema anticipates significant opportunities in the region.

EPAM's Role in Zema's Expansion

EPAM, a global provider of technology and engineering services, has played a key role in supporting Zema's expansion into India. Through its Build-Operate-Transfer (BOT) model, EPAM has helped Zema build its operational infrastructure, consolidate technology stacks, and implement a smooth transition for its India operations.

"We wouldn't be able to operate at this scale without EPAM," said Stone. "EPAM has not only helped us set up our India operations but also provided deep technology expertise to merge the capabilities of our two legacy companies. Their guidance allows us to move with speed and confidence."

Srinivas Reddy, Managing Director of EPAM India, elaborated on the significance of the BOT model in scaling operations efficiently:

"We assist with legal compliances and company incorporation in India. We quickly seed people and, in some cases, even transition long-term EPAMers into the new entity. Our recruiting engine, branding, and name recognition help accelerate growth."

Navigating Challenges in GCC Expansion

While the benefits of establishing a GCC in India are substantial, the process presents its own set of challenges. Reddy emphasized that companies focusing solely on cost savings without investing in brand-building and company culture often encounter difficulties:

"If you don't invest in building the right teams and aligning with the client's business goals and domain expertise, you will run into major hurdles. Zema took the best approach by leveraging a trusted partner for incorporation, talent acquisition, and leadership oversight."

Stone reiterated the significance of the Indian workforce in Zema's global strategy:

"By the end of this year, our team in India will comprise a third of our global employee base. This is a critical operational capability for us, helping stitch together our global network across seven countries."

AI-Powered Efficiency in GCC Operations

Artificial intelligence plays a crucial role in optimizing Zema's GCC operations. EPAM has integrated AI into its processes, with over 2,000 employees in India working on AI-driven production environments.

"Our top 70 clients are engaging us for AI and GenAI solutions," Reddy shared. "We are integrating AI across the software development lifecycle, from requirements gathering to implementation. AI-driven copilots and autonomous agents are transforming workflows, making processes more efficient and intelligent."

For Zema, AI integration serves as a key differentiator in the data and analytics sector. Stone observed:

"The best talent wants to work on interesting problems in influential industries, and AI is a major part of that equation. With EPAM's AI capabilities, we are positioning ourselves at the forefront of data-driven innovation."

Future Growth and Government Collaboration

As Zema continues to expand its footprint in India, it is also exploring partnerships with Indian energy companies, both private and public. Stone expressed interest in initiating conversations with India's major energy companies to demonstrate how Zema's data solutions can add value.

Conclusion

Zema Global's partnership with EPAM exemplifies India's growing role as a hub for Global Capability Centers. With a strong foundation in Mumbai and Pune, Zema is well-positioned to drive innovation in energy and commodity analytics. As real-time data insights become increasingly critical in global markets, Zema's India operations will play a pivotal role in shaping the future of energy decision-making.

This expansion aligns with broader industry trends, as India's GCC market is projected to grow significantly in the coming years.

According to a report by Nasscom and Zinnov, the market size of India's GCCs is expected to reach $99 billion to $105 billion by 2030, up from $64.6 billion in 2024. The number of companies with GCCs in India is anticipated to rise to around 2,100 to 2,200 by 2030, employing 2.5 million to 2.8 million people.

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