India's GCC Ecosystem set to hit USD 100 bn by 2030; Emerges as global innovation hub: Report
The sector is poised to employ over 2.5 million professionals within the next six years. India is currently home to more than 1,700 GCCs.
ANI
Nov 18, 2024 11:27 IST
New Delhi [India], November 18 (ANI): India's Global Capability Centers (GCC) sector is set to redefine the global innovation landscape, with its market value projected to reach USD 100 billion by 2030, according to the Inductus report.
The sector is poised to employ over 2.5 million professionals within the next six years. India is currently home to more than 1,700 GCCs.
These centres collectively generate approximately USD 64.6 billion in annual revenue while employing 1.9 million professionals across diverse functions.
The report emphasizes the strategic importance of Indian GCCs, with 70 per cent of mid-sized corporations identifying their operations in India as crucial to advancing innovation agendas.
Furthermore, 90 per cent of GCCs in India have transitioned into multi-functional hubs, integrating technology, operations, and product engineering capabilities.
Notably, Engineering, Research, and Development (ER&D)-focused GCCs are growing 1.3 times faster than the general GCC growth rate, signifying a trend toward high-value capabilities.
Alouk Kumar, Founder and CEO of Inductus, highlighted the report's implications, stating, "India's GCC ecosystem has matured into a powerhouse of innovation and digital transformation, offering unparalleled opportunities for companies to accelerate their growth journey while maintaining operational efficiency."
Looking ahead, the study predicts that by 2026, more than 70 per cent of GCCs in India will adopt advanced AI capabilities, including machine learning and AI-driven customer support.
Additionally, 80 per cent of surveyed GCCs plan to invest in cybersecurity training and AI-driven threat detection over the next five years, reflecting a robust focus on technological advancement and security.
India's GCC ecosystem also holds a competitive edge in operational efficiency. With operational costs up to 40 per cent lower than those in Eastern Europe and 30 per cent lower than Latin American counterparts, Indian GCCs continue to deliver high-quality output and foster innovation at reduced costs. (ANI)
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