India’s GCC boom: 24 centres across $1B, growth ahead

India’s Global Capability Centre (GCC) sector is experiencing remarkable growth, reinforcing the country’s role as a strategic hub for multinational corporations. In the financial year 2023-24, 24 GCCs crossed the $1 billion export revenue milestone, up from 19 in the previous year. This expansion contributed over $43.6 billion in exports, highlighting the sector’s increasing importance in global business operations.

GCCs, which serve as technology and operations hubs for multinational companies, have evolved beyond their initial back-office functions. Today, they are integral to business transformation, driving innovation in areas such as artificial intelligence, cybersecurity, data analytics, and automation. Many Fortune 500 companies now rely on India-based GCCs for their most critical functions, from research and development to customer experience enhancement.

The rise of giga capability centres—large-scale hubs handling diverse, complex operations—marks the next phase of this evolution. Companies are increasingly setting up these centres to consolidate their global operations under one roof, benefiting from India’s vast talent pool, cost efficiencies, and strong digital infrastructure. This shift is driven by factors such as rapid digital adoption, favourable government policies, and India’s growing reputation as a centre for high-value services.

Several industries, including banking, financial services, healthcare, and retail, are leading this GCC expansion. Major players are investing in new facilities, upgrading technology stacks, and enhancing workforce capabilities. The availability of highly skilled professionals in engineering, data science, and cloud computing further strengthens India’s appeal as a GCC destination.

Moreover, India’s GCCs are playing a vital role in shaping the country’s employment landscape. With over 1.6 million professionals working in the sector, GCCs offer lucrative career opportunities in cutting-edge domains. Companies are also focusing on upskilling initiatives to equip employees with future-ready skills, ensuring continued innovation and competitiveness.

Looking ahead, India’s GCC sector is poised for sustained growth. The increasing shift towards digital transformation, coupled with continued investments from global corporations, will further cement India’s position as a global technology and operations powerhouse. As more companies establish giga capability centres and leverage India’s robust ecosystem, the sector is set to unlock new levels of efficiency, innovation, and economic impact.