(MENAFN- IANS) New Delhi, July 21 (IANS) India houses nearly 1,700 Global Capability Centres (GCCs) spread across tier 1 and 2 cities, accounting for around 53 per cent of the total number of GCCs worldwide, a report said on Monday.

Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai and Pune account for 94 per cent of the total number of GCCs in India, said Vestian Research, an occupier-focused global workplace solutions provider, in its report.

The rest 6 per cent GCCs are spread across Kolkata, Kochi, Ahmedabad, Chandigarh, Coimbatore, Vadodara, Nashik, Trivandrum, Jodhpur, Warangal, Baroda, Visakhapatnam, Bhogapuram, Jaipur, Surat, Mohali, Bhubaneswar, Indore, Mysuru, Madurai and Bhopal.

According to Vestian Research, the total number of GCCs in India is projected to exceed 2,100 by FY28, growing at a CAGR of 8 per cent. On average, approximately 150 new centres are expected to be established annually.

The IT sector leads the landscape in India, accounting for approximately 49 per cent of the total number of GCCs nationwide, followed by the BFSI (Banking, Financial Services and Insurance) sector, which holds a 17 per cent share.

Collectively, the Healthcare and Lifesciences, Engineering and Manufacturing, Consulting Services, and Telecom and Media sectors contribute around 19 per cent to the overall number of GCCs in India, the report highlighted.

“India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian.

However, selecting the right location remains critical to the long-term success of any GCC, he added.

Bengaluru has the highest number of GCCs (487) spread across various industries, accounting for 29 per cent of the total number of GCCs in the country.

With the presence of 273 GCCs Hyderabad has emerged as the fastest-growing GCC hub in the country. While the NCR region houses 272 GCCs, Mumbai has 207 GCCs, and Pune accounts for 178 GCCs , as per report.

GCCs have evolved significantly since their emergence in the 1990s, as companies began leveraging offshore locations for cost-efficient operations and a skilled workforce.

From initial focus on IT support and back-office services, GCCs have now become hubs for innovation, research, and development, and their number reached approximately 3,200 centres around the world, according to the report.

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