India remains attractive destination for global capability centres: NASSCOM
As of FY 2023, India is home to 1,580 unique GCCs, with several global MNCs opting to establish their first global centre outside their headquarters here.
India continues to be an attractive destination for global corporations to set up their technology operations, i.e., global capability centres (GCC), and the number of such units is expected to cross 1,900 by 2025.
A report titled “GCC 4.0 - India Redefining the Globalisation Blueprint” by NASSCOM in partnership with Zinnov noted that the headcount of GCCs in India will exceed two million and a market size of $60 billion by 2025.
The availability of skilled engineering and digital talent, along with a highly mature startup landscape, and an evolved peer GCC ecosystem, continue to make India an attractive destination for setting up or expanding GCCs, the report said.
NASSCOM President Debjani Ghosh said, “GCCs in India have helped India’s tech industry remain resilient amid the current upheaval in the global market. The ecosystem not only fortifies India’s tech industry but also facilitates profound collaborations with startups, academia, and external partners to harness cutting-edge technologies and fuel innovation.”
As of FY 2023, India is home to 1,580 unique GCCs, with several global MNCs opting to establish their first global centre outside of their headquarters in India. These are not just driving engineering expansion activities but are also co-piloting transformation efforts with their HQ.
The growth of GCCs in India is primarily being fueled by engineering and R&D services accounting for 56% of the overall revenue share. At the same time, BPM and IT Services are also experiencing growth, with GCCs expanding their operations in India across locations, including Tier-II Indian cities.
Zinnov CEO Pari Natarajan said, “India is at the epicentre of the GCC 4.0 wave, where India GCCs and their leaders are redrawing the blueprint of globalisation by going beyond a cost and scale retrospective, and helping their HQs solve new problems across business, technology, and people.”
The GCCs in India, which employ 1.66 million people, are also acting as core technology hubs for their HQs, specialising in niche skills around cloud, AI/ML/NLP, cybersecurity, low-code/no-code, advanced analytics, blockchain, IoT, etc.
Edited by Saheli Sen Gupta