India-based global capability centres (GCCs) have redefined the Indian tech landscape over the last five years. According to a report, 70 per cent of Fortune 500 companies will be expanding their presence in India by 2030.
The report by Nasscom and Zinnov, titled ‘India GCC Landscape Report: The 5-year Journey,’ said that GCC revenue by 2030 is expected to touch $99 billion to $105 billion, a growth of 9-10 per cent from the current revenue of $64.6 billion.
The report further added that the number of GCCs is expected to reach 2,100-2,200 in 2030 from the current over 1,700.
What will drive this growth includes factors like global roles moving to India, AI Centres of Excellence (CoEs), and an overall focus on engineering and R&D.
The report pointed out that the expansion of global roles in Indian GCCs is what is really driving the growth of the industry. Over 6,500 roles are housed in Indian GCCs, which is expected to cross the 30,000 mark over the next six years. These global roles span across engineering, IT, shared services, and multiple verticals.
Another reason driving this growth is the AI-led transformation being driven from these India-based GCCs. The report highlights that over 500 centres are now dedicated to AI and machine learning (ML). Additionally, over 120,000 AI professionals are present across GCCs and CoEs in India.
Sindhu Gangadharan, chairperson, Nasscom, said, “GCCs have rapidly evolved from being operational hubs to becoming true engines of innovation and strategic growth. As they advance along the maturity curve, they are increasingly 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.”
With the increase in GCC centres in India, this has also led to an increase in the talent pool. The headcount at GCCs is expected to go up to 2.5-2.8 million in 2023, from the current 1.9 million, said the report.
Shifts like GCC expansion into Tier-II and Tier-III cities, Global Unicorn and Global 2000 enterprises setting up centres, have led to a 60 per cent increase in revenue and a 36 per cent increase in headcount between FY19-FY24.
“India has undeniably become the GCC capital of the world. And it’s not just the scale. India’s GCCs are also driving high-value charters, where we are witnessing a shift towards portfolio and transformation hubs, with increasing product ownership from India. What’s truly exciting is how India has become a microcosm of global organisations. Every business unit and function now has some representation here, making our GCCs the nerve centres of global tech advancement,” said Pari Natarajan, CEO, Zinnov.
First Published: Sep 11 2024 | 5:43 PM IST
