Arindam Sen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The share of global capability centres (GCCs) in Indias GDP is expected to double to 2% by 2030, according to a note shared by ICICI Securities. These offshore units of multinational companies collectively generate about $46 billion in revenue, which is likely to touch $100 billion by FY30. The GCC sector grew by 11% between 2015 and 2023. The scaling up of GCCs in India is impacted by global headwinds affecting parent companies.

Mumbai's GCC hiring in India slowed down in FY24, impacted by global uncertainties. Despite high attrition and talent demand, centers took a cautious approach. Experts attributed the slump to a cautious approach by companies since 2023 amid multiple global headwinds - inflation, geopolitical conflict, supply side challenges and high interest rates. Xpheno data show that with 16-18% average attrition, GCCs in FY24 had a gross talent demand for over 250,000 people.

About 55-92 percent of the total GCC units in India are housed in Bengaluru, Hyderabad, Chennai, Pune, Mumbai, and NCR region, according to various reports.

The report highlighted that GCCs are establishing dedicated teams to collaborate with global organisations for ESG initiatives, with major areas of support being in the enablement of processes, data and technology.

In 2022 and 2023, companies set up 112 GCCs in total, out of which only 5 were in Tier II cities