India’s GCC market expected to grow by 144%

Indian Global Capability Centres (GCC) market size is expected to reach US$ 110 billion by 2030 and to employ over 4.5 million people compared to the current base of about 1.9 million employees.

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India’s Global Capability Centres (GCCs) are bracing to register substantive growth by 2030. The growth in the domestic GCC market would be led by- a skilled workforce, a favourable business & policy environment, and robust infrastructure. 

GCCs are captive centres of global companies that are established outside India. They handle operations like R&D, back-office, customer support and IT support to enhance the productivity of their parent companies.

EY, the leading professional services organization in its report titled ‘Future of GCCs in India – a vision 2030’, said that growing at 144%, the domestic GCC market size will reach US$ 110 billion by the year 2030 (from the current US$ 45 billion). 

The report noted that market expansion will be led by software exports, which remain a key component of India’s service exports. It is projected that by 2030, India will have 2400 GCCs. It further predicted that the number can potentially touch 2550, with India emerging as the world’s technology and services hub. The total number of new GCC set-ups every year can climb up to 115 from the current 70.

The Indian GCC industry is expected to employ over 4.5 million people by 2030, compared to the current base of about 1.9 million employees.

According to the report, the GCC set-ups in the country are focussing on cities like Bengaluru, Hyderabad, Chennai, Mumbai, Pune and Delhi NCR. However, tier-II cities such as Visakhapatnam, Jaipur, Vadodara, Kochi, and Chandigarh are also gaining the attention of the new set-ups.