India Emerges as Global Leader in GCCs with Over 1,700 Centres and USD 64.6 Billion Revenue in FY 2024

India's Global Capability Centres (GCCs) surpassed 1,700, generating USD 64.6 billion in revenue in FY 2024. The sector employs 1.9 million people, primarily in Tier-I and Tier-II cities, and shows robust growth in AI-led transformations. Bengaluru and NCR remain leading hubs, leveraging cost advantages and talent pools.

India's Global Capability Centres (GCCs) have crossed the 1,700 mark, with revenues soaring to USD 64.6 billion in the financial year 2024, a report from Nasscom and Zinnov revealed. Dubbed the 'GCC Capital of the world,' India's GCC sector demonstrated a remarkable upsurge in both scale and revenue.

Employing over 1.9 million people, the majority of GCC talent is based in Tier-I and Tier-II cities. These units, set up by multinational corporations to leverage cost-efficient, knowledge-based talent for strategic functions, have proliferated across the country. In terms of individual centres, India now boasts over 2,975 GCC units, further underlining its dominance.

The report highlights that India's GCCs are at the forefront of AI-led transformation, with more than 120,000 professionals driving this change. Notably, 400 new GCCs and over 1,100 new GCC units have been established in the past five years, indicating robust expansion. Bengaluru and the National Capital Region (NCR) remain the primary hubs, housing 47% of the IT talent within the ecosystem.

The total number of GCCs surged from over 1,285 in FY 2019 to over 1,700 in FY 2024, a 32% increase, while GCC units saw a 60% rise. The centres' increased confidence in India's capabilities is evidenced by a 24% growth in the average size of operations. Engineering Research and Development (ER&D) GCCs have particularly seen a workforce expansion from 400 to 500 employees in the same period.

Region-wise, Tier-II and Tier-III cities like Ahmedabad, Coimbatore, and Vadodara are emerging as viable hubs due to cost advantages and a growing talent pool, making them strategic locations for new GCC setups. These developments reflect the increasing importance of India in the global GCC landscape.

(With inputs from agencies.)