India will become $10 trillion economy over next decade, GCCs to contribute $0.5 trillion: Goldman Sachs executive

New Delhi [India], July 14 (ANI): Global Capability Centers have the potential to contribute USD 0.5 trillion as gross value added to the Indian economy when the country's GDP edges towards USD 10 trillion, employing about 20-25 million people, Gunjan Samtani, Co-Chairman of Goldman Sachs in India, said on Monday.

India will have tremendous opportunities as the world navigates geopolitics, he said, speaking at the CII GCC Summit.

"65 per cent of the global growth between now and 2035 will come from emerging markets, and India...is a bright spot. We will be the fastest growing economy in the world, and will become a USD 10 trillion economy in the next decade," the Goldman Sachs executive said at the Summit.

India's demographic dividends, leading STEM graduates, and talented AI skills supported by the AI Mission are expected to work in India's favour.

Artificial Intelligence represents the most compelling disruption opportunity in today's evolving global economic landscape, with global technology spending projected to exceed USD 4.92 trillion by 2025, according to Gunjan Samtani.

Addressing industry leaders at the Confederation of Indian Industry event, Samtani outlined a few critical factors reshaping the global economic context, with AI-driven transformation at the forefront of a new wave of digital infrastructure development.

The Goldman Sachs executive highlighted India's exceptional positioning in the global economic realignment, describing the country as a "bright spot" projected to become a USD 10 trillion economy within the next decade.

This generational opportunity comes at a time when global markets are navigating complex challenges, including trade rebalancing, supply chain realignment, and geopolitical tensions.

"India remains strategically positioned to capitalise on multiple global trends simultaneously," Samtani emphasised, pointing to the country's demographic advantages and technological capabilities as key differentiators in the evolving economic landscape.

The Global Capability Centers (GCC) sector, which has evolved from traditional cost-saving back offices to innovation hubs driving AI, automation, and digital transformation, stands to benefit significantly from these global trends.

Industry estimates suggest that GCCs are no longer just supporting global businesses but are actively shaping the strategic direction for multinational corporations.

Going by definition, GCCs are offshore facilities set up by multinational corporations to manage a variety of business functions and processes for their parent organisations. (ANI)