Surging Global Capability Centers to Bolster India's Economy by 2030

Global Capability Centres (GCCs), often referred to as Global In-house Centers (GICs) or Captive Centers, are predicted to contribute 2% to India's GDP, generating 2.8 million jobs by 2030. A report by the Association of Chartered Certified Accountants (ACCA) underscores GCCs' pivotal role as growth and employment catalysts in India.

These centers, owned and managed by multinational corporations, capitalize on global talent and technological innovations to enhance organizational capacity and promote business transformation. With over 1,700 GCCs during 2023-24, and a projection to surpass 2,200 by 2030, India has become a premier location for these centers.

The ACCA report identifies key growth drivers, including a skilled workforce, conducive government policies, and improved infrastructure, which collectively fuel the expansion of GCCs in India. In FY2024, GCCs generated approximately USD 64.6 billion in export revenue, marking a considerable 40% increase from USD 46 billion in FY23.

The projected growth of GCCs highlights an estimation of 20,000 global leadership roles based in India by 2030. Tier-1 cities, with Bengaluru leading at 487 centers, show the most significant GCC presence, followed by Hyderabad's 273 centers, and the NCR region with 272. Mumbai, Pune, and Chennai also contribute substantially.

This expansion underscores India's ascent as a global leader in housing GCCs, currently hosting nearly 1,700 centers, constituting over 53% of the global total of 3,200. Originally seen as cost-saving ventures, GCCs now serve as strategic hubs for innovation, operational efficiency, and business development, benefiting from India's diverse talent and favorable business landscape.

The report also notes a shift in finance roles within GCCs from basic transaction processing to value creation through process improvement and cost transformation. Opportunities are growing in business partnering, procurement, reporting, planning, and analysis, with entry-level roles focusing on data analytics and financial planning, while mid-level positions drive process transformation.

(With inputs from agencies.)