The “GCC in India 2023” report offers a comprehensive examination of the rapidly evolving landscape of Global Capability Centers (GCCs) in India. It explores the different types of centers, including their functionalities and operational aspects. As businesses globally aim to centralize specific functions for better efficiency, India continues to be a preferred destination due to its talent pool and cost advantages.
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India’s engagement with GCCs initiated in the early 1990s, concurrent with its economic liberalization. The primary adoption was led by IT and IT-enabled service organizations aiming to tap into the rapidly expanding pool of proficient IT professionals in the country. This success in the IT sector acted as a catalyst, ushering other industries like BFSI, Pharma, and Automotive to establish their GCCs in India.
The subsequent decade saw a broadening in the scope of GCCs, transitioning from mere back-office operations to encompassing intricate processes, product development, and strategic R&D functions. Urban centers such as Bengaluru, Pune, and Hyderabad became prominent nodes, attributed to their robust educational infrastructure and growing entrepreneurial ecosystems.
In the present landscape, GCCs in India have evolved beyond being cost arbitrage units, positioning themselves as pivotal centers of innovation and strategic growth for their parent organizations.
At present, India is home to more than 1,600 Global Capability Centers (GCCs), employing over 2 million professionals. According to various projections, this number is anticipated to exceed 2,000+ GCCs by the fiscal year 2026-27.
MachineCon 2024 – The Most Powerful GCC Summit of the year, 28th June 2024 | Bangalore
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