Indian GCC Market To Cross USD 100 Bn By 2030

New Delhi, May 24 (KNN) India is experiencing a significant surge in the establishment of Global Capability Centres (GCCs), positioning itself as a global hub for innovation and leadership. 

These centers, once primarily focused on cost-effective outsourcing, have evolved into strategic units driving technological advancements and business transformations for multinational corporations.

According to a report by Nasscom and Zinnov, India's GCC market is projected to grow from $64.6 billion in 2024 to between $99 billion and $105 billion by 2030. 

This growth is expected to increase employment from 1.9million to approximately 2.8 million individuals. 

Notably, leadership roles within these centers are anticipated to rise from 6,500 to over 30,000 by 2023, reflecting India's expanding influence in global corporate leadership. 

The proliferation of GCCs is not limited to major corporations; mid-sized firms are also establishing centers in India, attracted by the country's skilled talent pool and favorable business environment. 

Over the past 30 months, more than 140 new greenfield GCCs have been established, creating approximately 70,000 jobs. 

Industry leaders are recognising the strategic importance of these centers. HCLTech, for instance, appointed Kiran Cherukuri as the Global Head of its GCC practice, underscoring the company's commitment to strengthening its global operations through Indian talent. 

The rise of GCCs in India signifies a shift towards insourcing, where companies build in-house capabilities rather than relying solely on external outsourcing. 

This trend is not seen as a threat to traditional IT services but rather as a complementary evolution, with firms like Capgemini and Infosys supporting GCCs in scaling and innovation.

As India continues to attract global investments and foster talent development, its role in shaping the future of global industries through GCCs is set to expand further.

(KNN Bureau)