Global Roles in India's GCCs Anticipated to Surge Over Four-Fold to 30,000 by 2030

The Economic Survey 2024-25 predicts a significant increase in global roles within Global Capability Centres (GCCs) in India, with numbers expected to rise from 6,500 to 30,000 by 2030. This growth is attributed to India's evolving reputation as a hub for innovation and skilled talent, moving beyond its previous image as merely a cost-effective destination.

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India's GCC ecosystem has seen substantial development over the last decade. It now includes high-end engineering positions such as product managers and architects. Notably, 35% of transformation hubs have a strong presence of architects. The country leverages its vast talent pool, which makes up 28% of the global STEM workforce and 23% of global software engineering talent.

Expansion and Employment Growth

The number of GCCs in India has increased from approximately 1,430 in FY19 to over 1,700 by FY24. As of FY24, these centres employ nearly 1.9 million professionals. Over the past five years, India has been central to the global GCC expansion strategy, with more than 400 new GCCs and around 1,100 new units established.

Training programmes are playing a crucial role in this expansion by developing leadership skills among professionals. These programmes are essential for supporting the rapid growth of global roles within GCCs. Experts believe that India's changing perception on the global stage is driving this trend.

Regulatory Improvements and IT Exports

The survey highlights that expanding safe harbour rules and streamlining transfer pricing assessment procedures could enhance India's transfer pricing regime. These changes aim to make it more attractive and competitive, thereby boosting IT exports and facilitating business operations for GCCs and the IT services industry.

India's strategic position in the global market is reinforced by its ability to attract high-value roles and investments. The country's focus on innovation and skill development continues to draw attention from companies worldwide, further solidifying its status as a key player in the GCC landscape.

The ongoing growth of GCCs in India reflects the country's commitment to fostering an environment conducive to technological advancement and skilled employment opportunities. This trajectory is expected to continue as India strengthens its position as a leader in the global talent market.