Chennai: Global capability centres are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent of India’s GDP. Out of this, $102 billion will represent export earnings. The government should simplify the entry process and focus on trust and data security.
In the last couple of years, more than 150 multinationals have set up their GCCs in India. Starting with the humble beginning of offshoring by Texas Instruments by setting up its office in Bengaluru in 1985, India has come a long way to being at the epicentre of GCC growth. As of March 2023, India houses over 1,600 GCCs.
The country is poised to have 2100 GCCs, with the market size of the centres touching $90 billion. GCCs presently employ 32 lakh people, primarily engineers and scientists and generated a combined revenue of $46 billion in 2023 and are estimated to generate a total revenue of $121 billion by 2030, roughly 3.5 per cent of India’s GDP. Out of this, $102 billion will represent export earnings.
Today, GCCs contribute to their parent organisations’ success and propel India’s economic growth. They account for more than 1 per cent of the country’s GDP, and the share is expected to grow further. As more global players eye India to set up their GCC operations, the government has a crucial role in facilitating their entry. Government support for identifying new business models for partnerships, simplifying the entry process, and emphasising trust and data security, among others, will further encourage the location of GCCs in India.
