In 2024, there was a surge in the establishment of global capability centres (GCC) in India. What was particularly noteworthy was India’s confident strides in breaking the stereotype of being a back-office operations hub. At the Bengaluru Tech Summit, the Karnataka government announced the launch of India’s first GCC policy and signed strategic MoUs with global tech giants, with a goal of training 1 lakh professionals in the next year. Chief Minister Siddaramaiah highlighted the state’s commitment to technological advancement, stating that Karnataka is the preferred destination for GCCs due to its exceptional engineering talent and the highest number of AI professionals globally. Bengaluru continues to reign as the GCC hub, with Karnataka hosting over 875 GCCs, employing 6 lakh people, and contributing $22.2 billion annually. The state aims to have 1,000 GCCs, create 3,50,000 new jobs, and generate $50 billion in output by 2029. Other cities like Hyderabad, Pune, Mumbai, Delhi, Gurugram, Noida, and Chennai are also emerging as strong competitors, while tier-II cities like Jaipur, Vadodara, Coimbatore, and Kochi are gaining traction. This signals a shift in GCC location preferences. Currently, there are 1,744 global capability centres spread across India, driving innovation and solidifying India’s position as a global business powerhouse. This year, there were notable expansions in Bengaluru, including Apple’s first R&D subsidiary, StoneX’s new office, SurveyMonkey’s GCC, Walmart Global Tech’s 1-million-square-foot lease deal, and innovation hubs by New Relic and DocuSign. In Mumbai, Morgan Stanley opened a 1-million-square-foot campus, while InvoiceCloud launched its first office in Hyderabad and Comtrend established an R&D facility in Haryana. Another trend observed this year was the increasing presence of women in leadership roles in GCCs in India. This reflects a positive shift towards diversity and inclusion in Indian organizations, especially in the predominantly male-dominated IT sector. According to the Karnataka GCC Policy, Bengaluru has the highest number of female employable talent in India, and women are increasingly being employed in high-tech and leadership roles within GCCs, thanks to inclusive hiring practices and tailored skill development programs. The GCC sector in India is experiencing remarkable growth, employing over 1.6 million professionals.
