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India's GCC Boom: 2.8 Million Jobs and 2% of GDP by 2030
30 Jul
Summary
- GCCs to contribute 2% of India's GDP by 2030
- GCCs to generate 2.8 million jobs in India by 2030
- India has over 1,700 GCCs, expected to rise to 2,200 by 2030
Global capability centers (GCCs), also known as global in-house centers or captive centers, are fully owned and integrated hubs established by multinational corporations in talent-rich locations to build value and intellectual property. According to a recent report by ACCA (the Association of Chartered Certified Accountants), these GCCs are emerging as a key growth and employment generator in India.
Currently, India hosts over 1,700 GCCs, a number that is projected to rise to over 2,200 by 2030. This growth is fueled by India's skilled workforce, favorable government policies, and improving infrastructure. In the financial year 2024, GCCs are expected to generate approximately $64.6 billion in export revenue, a 40% increase from the previous year.
Looking ahead, the report estimates that GCCs will contribute 2% of India's GDP and generate 2.8 million jobs by 2030. Additionally, about 20,000 global leadership roles are projected to be based in India by the end of the decade. This reflects India's efforts to establish itself as the world leader in housing global capability centers, with the country currently accounting for over 53% of the total 3,200 GCCs globally.
