GCCs: India's USD 200 Billion Opportunity by 2030
Finance Minister Nirmala Sitharaman announced that Global Capability Centres could potentially contribute USD 200 billion to India's economy by 2030. With nearly half of Fortune 500 companies establishing their GCCs in India, the sector is poised for substantial growth, both in economic contribution and job creation.
- Country:
- India
Finance Minister Nirmala Sitharaman revealed that by 2030, Global Capability Centres (GCCs) could augment India's economy by up to USD 200 billion, while also generating additional jobs.
Speaking at the CII-GCC Business Summit, she noted an impressive trajectory of GCC establishment, with the average reaching one per week in 2024. Approximately half of all Fortune 500 companies have founded GCCs in India.
With a 2.16 million-strong workforce and an annual growth rate of 11%, India's GCC sector is significantly expanding. It could see direct gross value addition soar to between USD 150-200 billion by 2030, indicating a promising shift towards high value-added work.
(With inputs from agencies.)
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