Genpact began with 20 people in Gurgaon processing car loans and credit card transactions for GE Capital. Ten years later it had more than 26,500 employees in nine countries. Jack Welch credited the unit with cutting about $1 billion from GE's operating costs. When it went public in August 2007, Genpact had $613 million in 2006 revenue. GE still supplied most of it, under a contract that ran through 2013.

Born Inside GE Capital

Pramod Bhasin founded the business in 1997 while working for GE, as GE Capital International Services. It moved back-office work such as accounting, insurance claims and IT support from the United States to India. GE later sold 60 percent of the business to the investment firms General Atlantic and Oak Hill Capital Partners. In January 2005 the company took the name Genpact and began serving other clients. The bet was that the GE playbook could sell to any big company.

One Letter on the NYSE

Genpact sold 35.3 million shares at $14 in August 2007, half new and half from existing holders, and listed on the New York Stock Exchange under the one-letter symbol G. In 2008 its revenue passed $1 billion, with most of it coming from clients other than GE. Genpact later moved its headquarters to New York. It is still public on the NYSE, with 2025 revenue of $5.08 billion.

Cover: Villagers Grinding Corn, page from the Fraser Album, Unknown. Art Institute of Chicago, public domain. Chosen for villagers at shared work (process work in India).