GCCs to Boost India’s Economy to $200B by 2030: Sitharaman
GCCs to drive $200B economic boom!
Finance Minister Nirmala Sitharaman announced at the CII-GCC Business Summit that Global Capability Centres (GCCs) could contribute up to USD 200 billion to India’s economy by 2030, alongside creating millions of jobs. Highlighting their rapid growth, she noted that one new GCC was established weekly in 2024, with 50% of Fortune 500 companies now operating GCCs in India.
Currently, India hosts around 1,800 GCCs, employing 2.16 million professionals, a figure projected to reach 2.8 million by 2030 at an 11% compound annual growth rate. These centres contribute USD 68 billion to India’s GDP, roughly 1.6% of the national total, with potential to hit USD 150-200 billion by 2030. Sitharaman emphasized the sector’s shift toward high-value work, with engineering R&D GCCs growing 1.3 times faster than others over the past five years.
India’s cost-effective talent, 30-50% cheaper than in the US, UK, and Australia, has driven this growth. “Our talent is not just skilled but transformative,” Sitharaman said, noting that GCCs have evolved from execution hubs to strategic leadership centres. The ecosystem’s maturity reflects India’s rising global influence, with GCCs fostering innovation and economic expansion, positioning the country as a hub for high-value global operations.
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