India’s tech edge triggers a global captives explosion
India is witnessing a revolution of sorts – multinational companies are setting up new global capability centres (GCCs) and expanding existing ones like never before, driving demand for not just engineering talent or real estate but also for an array of specialised skills.
While GCCs – or, offshore units of global firms providing support services such as IT, analytics, customer centres, finance and human resource functions – have been in India for close to three decades now, the post-pandemic explosion in such captive units is expected to sustain, thanks to a thriving ecosystem and availability of diverse talent across all operations and specialised skills.
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At least 20% of Forbes 2000 global companies have set up their GCCs in India till 2023 and this share is estimated to grow to up to 55% by 2030, according to data from management consultancy firm Zinnov.
If Fortune 500 companies are to be considered, 23% of them already have a presence in India and this is expected to reach 43% by 2030, according to ANSR, a firm that helps build and scale GCCs.
And, EY expects India’s GCC market size to expand to $110 billion by 2030 from the current $45 billion, registering a growth of over 144%.
“India has emerged as a hub for innovation and research with a thriving ecosystem that has matured and supports talent across technology and operations,” said Deepak Mangla, CEO corporate centres – India & Philippines at
