(MENAFN- KNN India)
New Delhi, Sep 12 (KNN)
India's status as a pivotal hub in the global technology sector has reached new heights, with its Global Capability Centres (GCCs) playing a transformative role in the industry.
According to the recent "India GCC Landscape Report: The 5-year Journey," a collaboration between Nasscom and Zinnov, India's GCCs are set to redefine the country's tech landscape significantly over the next decade.
The report reveals that by 2030, 70 percent of Fortune 500 companies plan to expand their presence in India, underscoring the country's growing influence. GCC revenue is projected to surge to between $99 billion and $105 billion by 2030, marking a robust compound annual growth rate (CAGR) of 9-10 percent from the current revenue of $64.6 billion.
The expansion is not limited to revenue alone; the number of GCCs in India is expected to increase to 2,100-2,200 by 2030, up from over 1,700 today. This growth is driven by several factors, including the relocation of global roles to India, the establishment of AI Centres of Excellence (CoEs), and a strong focus on engineering and research and development (R&D).
Currently, Indian GCCs house over 6,500 global roles, spanning engineering, IT, and shared services. This number is anticipated to exceed 30,000 roles in the next six years, reflecting the sector's dynamic expansion.
The AI-driven transformation is a key contributor to this growth, with over 500 centres dedicated to AI and machine learning (ML) and more than 120,000 AI professionals employed across GCCs and CoEs in India.
Sindhu Gangadharan, Chairperson of Nasscom, highlighted the evolution of GCCs from operational hubs to vital 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,” Gangadharan said. This progression positions India to lead in digital transformation and sustainable business practices.
Moreover, the rise in GCC centres has significantly boosted the talent pool, with headcount expected to grow from 1.9 million to between 2.5 and 2.8 million by 2030.
The expansion into Tier-II and Tier-III cities and the establishment of centres by Global Unicorns and Global 2000 enterprises have driven a 60 percent increase in revenue and a 36 percent rise in headcount between FY19 and FY24.
Pari Natarajan, CEO of Zinnov, emphasized the global significance of India's GCCs.“India has undeniably become the GCC capital of the world,” he said.“Every business unit and function now has some representation here, making our GCCs the nerve centers of global tech advancement.”
With these developments, India is not only scaling up its GCCs but also transforming them into high-value, strategic hubs that are central to global tech innovation.
(KNN Bureau)
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