India's Global Capability Centres (GCCs) now contribute approximately 2% to the country's gross domestic product, with revenue crossing USD 64 billion and heading toward USD 100 billion, Chief Economic Adviser V. Anantha Nageswaran announced on Thursday. Speaking at the CII GCC Business Summit in New Delhi, Nageswaran highlighted the sector's quiet success, noting that two decades ago, India had only a handful of captive back-offices, whereas today it hosts more than 1,800 such centres.
Employment and Office Space Impact
These GCCs employ close to 2 million professionals, with newer estimates pushing that figure toward 2.3 million, according to the CEA. He also noted that GCCs account for a large share of new office space built across Indian cities each year. On the latest counts, India now hosts around half of the world's GCCs, a position unmatched by any other country.
Higher Pay and Talent Retention
"GCC roles today often pay more than traditional services jobs. They demand deeper skills and keep talent in India that might once have gone abroad. They have opened good jobs to more women, and to more cities," said Nageswaran.
AI and Leadership Growth
On artificial intelligence, the CEA highlighted that India has become the second-largest base of enterprise AI talent globally. The intellectual property created in these centres is real and significant. "Global roles are increasingly held by people sitting in India, and the number of senior leadership roles based in India is projected to grow perhaps fivefold by 2030," he said.
Budget Measures and Tier-2 Expansion
Nageswaran noted that this year’s budget took a clear step on tax certainty for GCCs. The transfer-pricing safe harbour has been simplified and widened, with a uniform margin now in place. "We have also launched a national framework to carry GCCs beyond the six large cities, into tier-two and tier-three India. That is not only an economic goal. It is also a matter of fairness. The opportunity should not sit in a few metros alone," he added.
