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India's GCC ecosystem set to hit $100 billion by 2030: report

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ETtechLast Updated: Nov 18, 2024, 04:18:00 PM IST

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As per the report, 70% of mid-sized corporations view their Indian GCCs as crucial to advancing their strategic innovation agendas. Nealy 90% of domestic GCCs now operate as multi-functional entities, handling technology, operations and product engineering.

India's global capability center (GCC) landscape is undergoing a dramatic transformation, with the sector projected to hit $100 billion in value by 2030 and employ over 2.5 million professionals, according to a report by consulting firm Inductus.

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India currently hosts over 1,700 GCCs, generating an estimated $64.6 billion in annual revenue and employing over 1.9 million professionals across various functions.

As per the report, 70% of mid-sized corporations view their Indian GCCs as crucial to advancing their strategic innovation agendas. Nealy 90% of domestic GCCs now operate as multi-functional entities, handling technology, operations and product engineering. Notably, engineering, research and development (ER&D)-focused GCCs are growing 1.3 times faster than the general GCC growth rate, signifying a shift towards high-value capabilities.

The study projects that by 2026, over 70% of GCCs in India will integrate advanced AI capabilities, ranging from machine learning algorithms to AI-driven customer support. About 80% of surveyed GCCs plan to invest in cybersecurity training and AI-driven threat detection over the next five years, the report said.

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The report also emphasised India's competitive edge in operational costs, with Indian GCCs offering up to 40% lower operational costs compared to Eastern Europe and 30% lower than Latin American counterparts.

“India’s GCC ecosystem has matured into a powerhouse of innovation and digital transformation, offering unparalleled opportunities for companies to accelerate their growth journey while maintaining operational efficiency,” Alouk Kumar, founder and CEO of Inductus, said.

GCCs, once seen as mere back-office support for large corporations, have now evolved into significant players in India's tech industry. Indian GCCs have showcased India's tech talent pool to global companies, leading to increased job opportunities.

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