India's GCC Renaissance: Job Boom and Workforce Expansion

India emerges as a top hub for Global Capability Centres (GCCs), slated to create up to 1 million jobs in the next six years. The country is experiencing workforce expansion, especially in technology and finance sectors, paired with a significant increase in women hires.

A new report highlights India's burgeoning role in hosting Global Capability Centres (GCCs), forecasting the creation of up to 1 million new jobs over the next six years. The India GCC Growth Outlook 2024 by NLB Services underscores India's appeal driven by its skilled workforce and favorable policies.

The report indicates a growing demand for freshers in cities like Bengaluru, Mumbai, Pune, and Chennai. Remarkably, GCCs plan to boost their workforce by 50% by 2030, focusing on equipping youth for next-generation innovation. A notable trend is the expected increase in women hires, projected to rise by over 50% by CY2030.

In alignment with the GCC 4.0 era, India's centres are set to expand, aiming to reach over 2,100 by 2030 and drive a market nearing USD 100 billion. High-demand skills such as financial services and digital advertising will dominate hiring trends, with a significant emphasis on engineering and manufacturing as part of Industry 4.0 transformation.

(With inputs from agencies.)