GCCs in India will have more global roles, rising past 30,000 by 2030, projects Eco Survey

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India's presence as a global technology talent hub is on the rise, at a time when emerging technologies, including artificial intelligence (AI), machine learning (ML) and cloud services are taking centrestage around the world, the Economic Survey 2024-25 said on January 31.

Global roles from India are expected to grow from currently 6,500 to over 30,000 by 2030 through Global Capability Centres (GCCs) of multinational companies, supported by robust leadership training programs, the survey said. This is driven by the adoption of AI and ML, and the setting up of AI Centres of Excellence further enhance India's GCC landscape by tapping into the strong middle-management talent.

The survey said India accounts for 28% of the global STEM (Science, Technology, Engineering, Mathematics) workforce, and 23% of the global software engineering talent. This has led to global MNCs setting up back offices and R&D hubs in India through GCCs.

“Over the past decade, the GCC ecosystem in India has matured significantly, advancing into high-end engineering roles such as product managers and architects, with 35% of transformation hubs exhibiting a strong presence of architects,” said the survey.

GCCs are also emerging as strategic hubs, quickly reshaping India's corporate landscape. The number of GCCs in India has grown from around 1,430 in FY19 to over 1,700 in FY24.

“As of FY24, GCCs in India employ nearly 1.9 million professionals. Over the past five years, India has remained at the forefront of the global GCC expansion strategy, with more than 400 new GCCs and around 1100 new units established,” the survey noted.

GCCs are being set up across sectors including aerospace, defence, and semiconductors, where companies are advancing engineering efforts to focus on next-generation platforms, products, and technologies.