India, which has established itself as a global hub for Global Capability Centres, with over 450 Forbes Global 2000 companies operating over 825 centres, could host 620-plus new GCCs by these companies by 2030, observed an ANSR Q3 GCC Report.

This report, which captures GCC trends and movements of 2024, predicts India’s potential to become a premier GCC hub, potentially accommodating over 32 per cent of Forbes 2000 enterprises. This ecosystem includes not just large corporations but also mid-market players and smaller enterprises.

As of 2024, over 450 of the 2,000 companies have established GCCs in India employing close to 1.3 million professionals; 45 per cent of the Forbes Global 2000 GCCs have expanded their presence across multiple cities with multi-center operations. Over the last five years, over 110 companies have joined this trend, marking a 32 per cent growth since 2019.

Bengaluru as GCC hub

The report highlights Bengaluru’s position as the dominant GCC hub, hosting over 285 Forbes Global 2000 companies and employing more than 5,60,000 professionals. Hyderabad follows closely, with over 110 such companies that employ more than 1,90,000 professionals. Non-metro cities like Ahmedabad, Vizag, Trivandrum, Kolkata, Bhubaneshwar, and Coimbatore are among the emerging cities preferred for GCCs.

There is a growing trend of GCCs exploring non-metro cities in States like Karnataka, Tamil Nadu, and Uttar Pradesh to capitalise on lower operational costs, untapped talent pools and a conducive business environment.

As of 2024, about 256 GCCs in India — accounting for about 60 per cent of the total captive share in the country — are of North American origin, while over 125 GCCs are from Europe.

BFSI sector

The BFSI sector dominates GCCs in India, followed by manufacturing and retail/CPG. There is also a strong focus on digital technologies, with 85 per cent of GCCs engaged in digital commerce initiatives. Newly set up GCCs are prioritising advanced digital capabilities, with 90 per cent focusing on AI/ML and data analytics, indicating a strong shift toward innovation-driven operations.

Traditionally introduced in later stages, non-tech functions like finance & accounting (25 per cent) and human resource management (25 per cent) are being incorporated from the start, as highlighted in the ANSR report. Cybersecurity (40 per cent) and cloud capabilities (50 per cent) are increasingly emphasised, supported by India’s skilled talent pool and service providers like Infosys, TCS and Wipro.

“Global Capability Centres are playing a pivotal role in India’s growth story as they are leading the tech revolution across sectors through cutting-edge innovation,” said Vikram Ahuja, co-Founder of ANSR, and CEO of Talent500. “India’s skilled workforce and expertise in emerging technologies like AI, data analytics, and cybersecurity make it a preferred destination for GCCs. Combined with government incentives and policies promoting GCC-focused infrastructure, India is set to accommodate over 620 new GCCs by Forbes 2000 companies by 2030, employing over 1.9 million professionals.”

Published on January 15, 2025