India’s Global Capability Centres (GCCs) recorded revenues of 64.6 billion dollars in FY24, marking 9.8 percent annual growth, according to newly released data from MeitY. The report highlights that India’s GCC network has now expanded to over 1,700 centres employing more than 19 lakh professionals, reinforcing the country’s position as one of the world’s most preferred destinations for high-value engineering, R&D, digital operations, and enterprise functions. As MeitY stated, “GCCs are driving growth and innovation in the services sector, enabled by India’s skilled workforce, ease-of-doing-business reforms, and liberalised FDI policies.”
Over the past five years, India’s GCC landscape has undergone significant transformation. The country has added more than 400 new centres and over 1,100 GCC units, reflecting both expanding global demand and India’s rising strategic importance in enterprise technology. Notably, engineering-focused research centres within the ecosystem are growing at 1.3 times the pace of the broader GCC sector, underscoring India’s deepening capabilities in advanced product development, design engineering, and next-generation technology innovation.
The financial trajectory of the sector further demonstrates its accelerating momentum. GCC revenues have climbed from 40.4 billion dollars in FY19 to 64.6 billion dollars in FY24, showcasing strong and consistent expansion in spite of global economic fluctuations. The government projects even sharper growth ahead, estimating that India could reach 105 billion dollars in GCC revenue by 2030, supported by nearly 2,400 centres employing 2.8 million professionals. This forecast reflects both ongoing global enterprise investment and India’s increasing role in mission-critical technology functions.
Government data additionally underscores the depth of India’s talent advantage—a key driver of GCC expansion. The country contributes 28 percent of the global STEM workforce and accounts for 23 percent of the world’s software engineering talent, making it one of the strongest talent pools available for multinational corporations seeking scalability, specialization, and innovation capacity.
Taken together, the latest figures signal a maturing, strategically critical industry that is rapidly evolving beyond traditional back-office functions. India’s GCCs are becoming global nerve centres for innovation, engineering excellence, and digital transformation—positioning the country at the forefront of the next phase of global enterprise capability building.
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