India's Surge as a Hub for Global Capability Centres by 2030

Global Capability Centres (GCCs) in India are poised for substantial growth, with roles expected to quadruple to 30,000 by 2030. This expansion is driven by India's shift from a low-cost destination to an innovation hub, with a substantial talent pool in STEM and software engineering sectors.

India's Global Capability Centres are set to experience a significant expansion, with roles anticipated to rise from 6,500 to over 30,000 by 2030. This growth reflects India's evolving image from a cost-effective location to a powerhouse of innovation and skilled expertise, according to the latest Economic Survey.

The survey highlights India's strategic advantage, with 28% of the global STEM workforce and 23% of global software engineering talent emanating from the country. Over recent years, India has advanced into high-end engineering positions within GCCs, such as product managers and architects.

Notably, the number of GCCs in India increased from approximately 1,430 in FY19 to over 1,700 in FY24, employing nearly 1.9 million professionals. The survey also mentions improved transfer pricing norms expected to enhance the IT exports and streamline operations for GCCs.

(With inputs from agencies.)