India’s GCC ecosystem sees remarkable growth; FM Sitharaman highlights path to $200 billion GVA by 2030

FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday highlighted the impressive expansion of Global Capability Centres (GCCs) in India, noting that while the first 1,000 GCCs took nearly 30 years to set up, an equal number have been added in the past decade alone. Currently, India hosts approximately 1,800 GCCs, which collectively employ about 2.16 million professionals.

Speaking on the sector’s trajectory, the Finance Minister said that nearly 50% of Fortune 500 companies have established GCCs in India, demonstrating the country’s pivotal role in global operations and service delivery.

To further strengthen the ecosystem, the Finance Minister announced that the governance of GCCs will soon be institutionalised, with states expected to play a key role in supporting their development. In a move to promote ease of doing business, steps have also been initiated to ensure tax certainty for GCCs, including mechanisms such as advance rulings.

Looking ahead, she projected that the gross value added (GVA) by GCCs could reach between $150–200 billion by 2030. On the innovation front, she underscored a major shift in India’s AI talent landscape, noting that 20% of AI researchers now choose to stay in India—up from zero in 2019.