India's Growth Driven by Global Capability Centers (GCCs)
India is emerging as a leading hub for Global Capability Centers (GCCs), which are transforming from basic support desks into innovation powerhouse centers that drive digital transformation, R&D, and strategic operations for global companies. With over 1,700 GCCs, employing more than 1.9 million people, and revenues skyrocketing to $64.6 billion in FY24, India is rapidly becoming a preferred destination for multinational corporations. The Indian government's supportive policies, infrastructure developments, and talent nurturing initiatives position the country at the heart of GCC expansion. Major contributions in talent, AI and machine learning (ML) adoption, and R&D in sectors such as aerospace and semiconductors are expected to further propel India into the global spotlight as it plans to host around 2,400 GCCs by 2030, generating USD 105 billion.
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