India's GCC sector to reach $105 billion by 2030 driven by policy initiatives

by IANS |

New Delhi, Dec 11 (IANS) Global Capability Centres (GCCs) in India are poised to reach $105 billion by 2030 as the sector expands into higher?value research and development, driven by government policy and talent, the government data showed on Thursday.

The country now hosts over 1,700 GCCs that together earned $64.6 billion in FY24 and employ over 19 lakh professionals, up from $40.4 billion in FY19 at 9.8 per cent annually, according to an official statement.

The number of centres could touch 2,400, employing over 2.8 million professionals as India cements its position as a preferred destination for global enterprise capability.

GCCs are offshore units set up by companies to deliver a range of services for their parent organisations.

The centres are concentrated in Bengaluru, Hyderabad, Pune, Chennai, Mumbai and the National Capital Region. They are increasingly handling engineering R&D, AI, cybersecurity and semiconductor work, with engineering research GCCs growing 1.3 times faster than overall setups.

India contributes about 28 per cent of the global STEM workforce and 23 per cent of global software engineering talent, the statement said, adding that global roles are expected to rise from 6,500 to over 30,000 by 2030.

India’s rise as a global destination for GCCs is the result of a carefully crafted approach that spans infrastructure, innovation, talent development, and supportive policies, it said.

Policy measures from the government that drove the growth include the Gen-Next Support for Innovative Startups (GENESIS), Special Economic Zone reforms, tax incentives, and single-window clearances.

Initiatives like Skill India, Digital India, and Future Skills Prime are equipping India’s workforce with next-gen digital skills.

The Economic Survey 2024–25 noted GCCs’ transition from traditional back-office roles to strategic hubs for aerospace, defence and advanced manufacturing.

"As GCCs continue to evolve from support engines to strategic nerve centers, the country stands poised to shape the future of enterprise. The journey from service to strategy is not just underway, it’s accelerating," the statement noted.