Global Capacity Centres to Reach USD 105 bn by 2030: India's Role as Global Hub

New Delhi, Feb 25 (PTI) Union Labour Secretary Sumita Dawra on Tuesday said that global capability centres (GCC) are projected to expand to USD 105 billion by 2030, employing over 2.8 million people solidifying India's role as a global hub for enterprise operations and innovation.

During a visit of an ILO delegation, headed by ILO Director-General Gilbert F. Houngbo at HSBC GCC on Tuesday in Gurugram, Dawra said that India is home to over 1,700 GCCs, employing 1.9 million professionals and generating USD 64.6 billion in revenue as of 2024, according to a labour ministry statement.

Dawra further stated that the key GCC hubs are located in Bengaluru, Hyderabad, Pune, Chennai, Mumbai, and the National Capital Region (NCR).

"The sector is projected to expand to USD 105 billion by 2030, with around 2,400 GCCs employing over 2.8 million people, solidifying India's role as a global hub for enterprise operations and innovation," she said.

Houngbo mentioned that India is becoming more competitive owing to its large and diverse talent pool that it can tap into for innovation and business development.

He observed that growing proliferation of GCCs across upcoming sectors like AI, cybersecurity, cloud computing, semiconductors, etc., is a new trend.

With 40 per cent of digital transformation projects in GCCs, India is now a centre for high-value technology-driven solutions. The GCCs emerging from different geographies viz, Germany, UK, Japan, Nordic countries, is another significant development observed in recent years, it was further informed.

A significant shift towards diversification of operations, with evolution towards higher value services, is seen, as GCCs in India transition from data processing to knowledge processing over the years.

With availability of talented pool of young professionals, India is emerging as an innovation hub.

Hybrid work models, diversity, and upskilling in AI, cybersecurity, and blockchain and industry-academia partnerships are creating future-ready professionals.

Emergence of GCCs in India has contributed positively to economic growth, job creation, technology transfer and skill development, among others benefits for local economy, the statement said.