By Anjali Sharma
NEW YORK – According to the GCC market in India on Friday has estimated to grow $99-105 billion, with the number of GCCs reached 2,100-2,200 and headcount rising to 2.5-2.8 million (25 lakh-28 lakh).
Acording to a new report, GCC Capital of the World said that India has the largest base of 17 per cent of global technology capability centres, currently employing over 1.9 million (19 lakh) people.
Global Roles in India have expanded significantly, with more than 6,500 such positions now established. Interestingly, this includes more than 1,100 women leaders holding global roles.
According to the latest Nasscom-Zinnov report a quarter of global engineering roles are now based in India, with industries like aerospace, defence and semiconductor focused on next-generation technologies.
Semiconductor firms and tech multinationals are increasingly establishing product teams in India, fostering innovation.
Over 400 new GCCs and 1,100 new centers have been established in the country, bringing the total number of GCCs to over 1,700.
GCCs in India generated $64.6 billion in export revenue in FY24 and average GCC talent expanded by 24 per cent since FY19 and is estimated at 1130+ employees in FY24.
Over 90 per cent of the GCCs operate as multi-functional centres, supporting technology, operations, and product engineering.
According to Sindhu Gangadharan, Chairperson, Nasscom, GCCs have rapidly evolved from being operational hubs to becoming true engines of innovation and strategic growth.
Pari Natarajan, CEO, Zinnov added that India’s GCCs are driving high-value charters, where we are witnessing a shift towards portfolio and transformation hubs, with increasing product ownership from India.
The initial wave of GCC growth was driven by large enterprises, more mid-market enterprises and unicorns are also setting up GCCs in India.
The report said that 40 global unicorns have an India GCC presence as of 2024.
It added that over 220 GCC units are located in emerging locations and Ahmedabad, Kochi, Thiruvananthapuram and Coimbatore are leading the pack.
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