India is on track to host 2,100-2,200 global capability centres (GCCs), creating 2.5-2.8 million jobs by 2030, said a Zinnov-Nasscom India GCC Landscape report. Currently, the country has 1,700 GCCs employing 1.9 million professionals.

According to the five-year landscape report on the GCC ecosystem in India, by 2030, the country’s GCC market is also estimated to grow to $99-105 billion. “These centres can transform into sandboxes for solutions tailored to diverse markets. They can unlock new growth by monetising ‘India to India’ services, leveraging local market insights, and expanding their domestic footprint,” the report noted.

GCC boom in India

Between FY19 and FY24, over 400 GCCs and 1,100 new centres have been established in India, bringing the total number to over 1,700. In FY24, GCCs in the country generated $64.6 billion in export revenue. The average GCC talent has expanded by around 24 per cent since FY19 and is estimated at over 1,130 employees in FY24, the report said.

Over 90 per cent of these GCCs operate as multi-functional centres, supporting technology, operations, and product engineering. The report refers to India as the GCC Capital of the World’, with a large base of 17 per cent of GCCs. The Americas continue their dominance with over 1,000 GCC units. While initially, the growth of GCCs was driven by large enterprises, more mid-market enterprises and unicorns are also setting up centres in India, with around 40 global unicorns having an India GCC presence as of 2024.

More than 220 GCC units are housed in emerging locations across Tier-II and Tier-III cities, with Ahmedabad, Kochi, Thiruvananthapuram, and Coimbatore building critical mass.

Sindhu Gangadharan, Chairperson at Nasscom, said, “GCCs have rapidly evolved from being operational hubs to becoming true engines of innovation and strategic growth. Their maturity in digital capabilities, engineering excellence, and advanced technology solutions is remarkable.”

She added that as GCCs move along the maturity curve, they are positioned to lead global agendas, secure critical managerial roles, and shape decision-making processes, setting the stage for India to become a global leader in digital transformation and sustainable business practices.

Evolution of GCCs

The report highlights that GCCs have moved up the maturity scale, with almost 53 per cent of GCCs in the Portfolio and Transformation Hub stages. ER&D GCCs contributed $36.4 billion in revenue and grew 1.3 times faster than the overall GCC growth rate. Over the past five years, global roles in India have expanded, with over 6,500 such positions. Nearly a quarter of global engineering roles are based in India, with industries like aerospace, defence, and semiconductors focusing on next-generation technologies. Additionally, semiconductor firms and tech multinationals are also establishing product teams in India.

Pari Natarajan, CEO of Zinnov, said, “India has undeniably become the GCC capital of the world. India’s GCCs are driving high-value charters, where we are witnessing a shift towards portfolio and transformation hubs, with increasing product ownership from India. The new digital tech narrative, including GenAI, automation, and productivity charters, is largely driven through the Centers of Excellence (CoE) model.”

He stated that by 2030, 70 per cent of Fortune 500 companies may expand their presence to India.

Related Topics