|
India will surpass 2,100 Global Capability Centers (GCC) by financial year (FY) 2028, growing at a compound annual growth rate (CAGR) of 8 per cent, with an estimated 150 new centers added annually, according to the recent report by Vestian.
The report also reveals that, the growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centers (29 per cent of India's total). Hyderabad follows closely with 273 GCCs (16 per cent), while the NCR region hosts 272 centers. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12 per cent, 11 per cent, and 10 per cent of the national total, respectively. This is a reflection of India's effort to establish itself as the world leader in housing Global Capability Centers (GCCs), with currently having nearly 1,700 centers, over 53 per cent of the total 3,200 globally. While these urban centers continue to dominate, there's a notable shift toward Tier-2 cities. This transition is being supported by the Union Budget 2025, which proposes a national framework to encourage the expansion of GCCs in emerging markets. Sector-wise, the IT-ITeS industry holds the biggest share of GCCs at 49 per cent, followed by the Banking, Financial Services, and Insurance (BFSI) sector at 17 per cent. Other contributors include healthcare, engineering, consulting, and telecom, collectively forming 19 per cent of the market. "India's leading office markets continue to offer a compelling value proposition to GCCs, characterized by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian. "However, selecting the right location remains critical to the long-term success of any GCC. Vestian's GCC Market Entry Index serves as a strategic tool to support companies in identifying optimal locations that align with their business objectives," he added. Global Capability Centers (GCCs) are offshore units established by multinational corporations to centralize and enhance various business functions, leveraging global talent and technology. These centers have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favorable business environments. (ANI)
|
