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India's position as "GCC Capital of the World”: Nasscom
The Business Guardian
|September 16, 2024
The total number of Global Capability Centres (GCCs) in India crossed the number of over 1,700, and the revenue of GCCs rose to USD 64.6 billion in the financial year 2024, a report jointly released by Nasscom and consulting firm Zinnov said, terming the country the "GCC Capital of the world.
" India's GCC revenue for Engineering Research and Development (ER&D) stood at 36.4 billion in FY 2024, as per the report.
GCCs provide employment to over 1.9 million manpower in the financial year 2024, out of which the total installed GCC talent is in Tier-I and Tier-II cities, the report added.
By definition, the GCCs are offshore services units established by Multinational Corporations (MNCs) to perform strategic functions, leveraging knowledge-based talent costs and operational efficiencies.
Interestingly, the GCC units in the country have crossed the number of 2975. The GCC units refer to the individual centres that make up a Global Capability Centre.
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