Nasscom, the IT industry body said that more than 500 GCCs, Global Capability Centres are expected to become an addition to the existing number of 1500 GCCs by 2026.
The technology and shared services hubs of MNCs in India are known as GCCs, and they are expanding quickly as multinational corporations hunt for talent to support their digital transformation. There are 1.3 million individuals employed by India’s 1,500 GCCs. According to the analysis, GCC revenue might increase from $33.8 billion in 2019–20 to $60–85 billion by 2026. About 1% of India’s GDP is represented by the $33.8 billion in revenue. GCC revenue in 2015 was $19.4 billion, representing an 11% CAGR in revenue between 2015 and the fiscal year 2020.
K S Viswanathan, VP of industry initiatives at Nasscom said, “We are in the third generation of GCCs in India. The first was about productivity, then about building enterprise capabilities, and the third piece now is on transformation work focused on the middle and front office.”
Many GCC centre chiefs think that India is more than just a labour arbitrage opportunity. At the recently concluded Bengaluru Tech Summit, Gunjan Samtani, the head of Goldman Sachs Services in India, stated that the India centre is less about the cost advantage and population.