GCCs poised to create up to 28 lakh jobs by 2030: Study
NEW DELHI: Touted as the ‘GCC Capital of the World,’ India has the largest base of 17 per cent of global technology capability centres, currently employing over 1.9 million (19 lakh) people, according to a new report.
By 2030, the GCC market in India is estimated to grow to $99-105 billion, with the number of GCCs reaching 2,100-2,200 and headcount rising to 2.5-2.8 million (25 lakh-28 lakh).
Over the past five years, 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. Nearly a quarter of global engineering roles are now based in India, with industries like aerospace, defence and semiconductor focusing on next-generation technologies, according to the latest Nasscom-Zinnov report.
Additionally, semiconductor firms and tech multinationals are increasingly establishing product teams in India, fostering innovation. In the last five years, more than 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. India’s GCCs are also driving high-value charters, where we are witnessing a shift towards portfolio and transformation hubs, with increasing product ownership from India, added Pari Natarajan, CEO, Zinnov. While the initial wave of GCC growth was driven by large enterprises, more mid-market enterprises and unicorns are also setting up GCCs in India. Around 40 global unicorns have an India GCC presence as of 2024, the report mentioned. More than 220 GCC units are located in emerging locations and Ahmedabad, Kochi, Thiruvananthapuram and Coimbatore are leading the pack, the report mentioned.
Over 220 GCC units are located in emerging locations. Ahmedabad, Kochi, Thiruvananthapuram and Coimbatore are leading the pack