India's Offshore Tech Revenue Soars to $98.4B by 2026

India's offshore technology centers are projected to achieve $98.4 billion in revenue by fiscal year 2026, a figure previously anticipated for 2030. This surge is driven by multinational corporations like JPMorgan Chase and Nvidia expanding their use of Global Capability Centres (GCCs) for critical functions, including finance, software development, and research and development.

The report highlights that India's growing pool of AI-ready talent, efficient operating models, and favorable tax policies enable faster expansion of these higher-value services. This strategic shift occurs as global firms navigate increased U.S. visa costs, inflation, and AI-driven disruptions, prompting them to relocate more complex work to India.

Fiscal year 2026 saw the addition or expansion of over 100 new GCCs, including entities such as Anthropic and FedEx. India is expected to host approximately 2,117 GCCs by fiscal 2026, with a talent base of 2.36 million, nearing earlier 2030 targets. North American firms remain the primary drivers of this expansion, accounting for two-thirds of new setups.