SEIZING INDIA’S GCC MOMENT

As Global Capability Centres boom, India's chartered accountants are stepping up as strategists, integrators, and global leaders

- Team BW

INDIA is no longer content to play the world's back office. That was the unmistakable message resonating through the packed halls of the Institute of Chartered Accountants of India's (ICAI) inaugural Global Capability Centres (GCC) Summit, held over two energised days in New Delhi on June 18 & June 27. For the more than 500 delegates in attendance—from seasoned chartered accountants and policymakers to young professionals, the event was both a celebration of India's remarkable services journey and a clarion call to imagine a bigger, bolder future.

At stake is no less than India's aspiration to emerge as the “office of the world,” a vision powered by the growing might of GCCs: sophisticated operations that handle everything from financial reporting and tax advisory to ESG and artificial intelligence for the world's biggest companies. Today, India is home to more than 1,700 GCCs employing over 1.6 million professionals and generating an estimated $46 billion in annual revenue, a figure projected to cross $100 billion by 2030.

For ICAI, the summit was also a milestone in redefining what it means to be a chartered accountant. As Charanjot Singh Nanda, President, ICAI, put it in his stirring address: “Chartered accountants of India can be a catalyst to position India as a developed nation. Today, with over 80,000 professionals in Global Capability Centres, our CAs are shaping global strategy, governance and entrepreneurship.”

India’s GCC Opportunity