Swiss GRC to Expand into Indian Market: Why Indian Companies Need Governance, Risk, and Compliance Solutions

Swiss GRC, a provider in Governance, Risk, and Compliance (GRC) solutions, has announced its intent to expand into the Indian market through a press conference held on 6 February in New Delhi. Besfort Kuqi, co-founder and CEO of Swiss GRC and Rajeev Dutt, general manager, MEA and APAC were present at the event to speak about the intent of the company, and the solutions that they have to offer.

The company presented its flagship product GRC Toolbox, showcasing how the platform addresses the unique needs and regulatory landscape of the Indian business environment. The representatives elaborated on its approach to engaging with local businesses, regulatory bodies, and other stakeholders to ensure a successful launch in India.

"India is in the top 5 countries by GDP growth and it could become the world's third-largest economy in less than a decade. India's equity market has now seen eight straight years of gains. It is a large and growing market with a diverse range of industries. India is projecting the best GDP growth and economic growth and development in the world for 2024, which has led to increased corpprate activities and regulatory complexities. India has a complex regulatory landscape and industry-specific regulatory compliance requirements, and it is also bringing an increased emphasis on Corporate Governance. We believe, Swiss GRC can help Indian entities navigate this growing landscape safely. We have been getting leads from Indian companies, and Channel partner enquiries have increased in the past year. So, this expansion decision comes at the right time and we are looking forward to having a strong base in India", shared Besfort Kuqi

Overview of the Global GRC Market 

Rajeev Dutt, in his address, quoting stated that the global Governance, Risk and Compliance platform market size reached US$ 44.0 Billion in 2023. INARC Group expects the market to reach us$ 119.8 Billion by 2032, exhibiting a growth rate (CAGR) of 11.658 during 2024-2032. According to Gartner, global end-user spending on risk management and cyber security will reach $215 billion in 2024, reflecting a 14.38 surge from the previous year. And, as the regulatory landscape becomes more intricate, GRC programs will progress to becoming a top priority. The growing focus on mitigating risks to protect sensitive data and intellectual property in various sectors, the rising number of cyber threats, and changing regulatory frameworks and compliance requirements are some of the major factors propelling the market, he said.

Where India Stands As Far as the GRC Market is Concerned

Dutt further went on to state that the GRC market in India is gaining traction on four counts, namely:

1. Statutory and regulatory drivers, including international regulations.

2. Financial and legal drivers involving contractual bindings.

3. S&P credit ratings, and operational drivers that include competitive pressures, process efficiency and optimisation.

4. Governance drivers involving transparency to stakeholders and improved accountability.

“We are very excited to expand our services in India as the country needs DC in India, and many Gout. and Public Sector companies prefer On-premise deployment. So, Swiss GRC will be offering On-Premise, Cloud and Private Cloud deployment options for the Indian market. We want to be the leading GRC player in the Indian market, with happy and satisfied customers getting value for money. This conference marks the first step towards our global expansion plans and we will ensure that the Indian customers find our GRC solution affordable, User friendly, simple and easy to use", shared Rajeev Dutt.