GCCs and engineering R&D driving India’s tech industry: Nasscom
The Indian technology industry is expected to cross revenues of $300 billion in FY26, largely driven by GCCs, according to Nasscom.
The growth of the technology industry of India for 2024-25 was driven by segments of global capability centres (GCC) and engineering R&D emerging as the hotspots for the sector.
The annual strategic review 2025 of Nasscom noted that in 2024, India’s technology industry has over 1,750 GCCs, reflecting a growing emphasis on high-value services and product engineering. The report said the industry exports revenue now indicates an equal revenue split between Global MNCs (including GCCs) and Indian service providers.
According to Nasscom, the technology industry in India is likely to cross $300 billion in revenues in FY 2026. It further added that despite the presence of volatility in terms of geopolitical tension and trade wars, the industry can reach this milestone.
Nasscom Chairperson Sindhu Gangadharan
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As per the report, the maturity levels of GCCs in India have increased and they are now turning into hubs for value and transformation for the global enterprise.
Nasscom chairperson Sindhu Gangadharan said, “Enhanced AI implementation, rise of Agentic AI disrupting business models, and increasing maturity of GCCs as hubs for value and transformation are driving the industry shifts.
She further noted, “As technology becomes deeply intertwined with global geopolitics and trade dynamics, enterprises must prioritize tech skills transformation within the workforce.”
The big dominant theme for Indian technology has been artificial intelligence (AI). Nasscom noted that as India steadily advances in AI maturity, enterprises are expanding their AI initiatives at scale. “While overall AI adoption remains measured, over 55% of AI activity by Indian tech services firms focused on building long-term co-creation partnerships to develop scalable, future-ready AI solutions,” it said.
Notably, more than 90% the top 20 services companies are integrating AI, Cloud, Data, and GenAI across business functions, with 10-15% of enterprise GenAI PoCs transitioning to full-scale production.
Nasscom President Rajesh Nambiar said, “India’s tech skill intensity will be a critical driver of future growth. While CEO outlook for FY2026 remains measured yet positive, with increased tech and AI spending, sustaining the growth momentum requires a strategic vision. However, upskilling in niche and core tech areas will continue to remain of paramount importance for the industry.”
Edited by Jyoti Narayan