India’s Global Capability Centres continued to strengthen their presence in FY24, with newly released Meity data showing steady growth in scale, revenue, and strategic importance. The report confirms that GCCs generated 64.6 billion dollars in FY24, reflecting 9.8 percent annual growth.
The data highlights that India now hosts more than 1,700 GCCs employing over 19 lakh professionals. This expanding network reinforces India’s position as one of the 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 5 years, India’s GCC ecosystem has transformed significantly. The country has added more than 400 centres and over 1,100 GCC units, a sign of rising global demand and India’s growing importance in enterprise technology. Engineering focused research centres are expanding at 1.3 times the pace of the overall GCC sector, demonstrating India’s strengthening expertise in advanced product development, design engineering, and next generation technology innovation.
The financial performance of the sector shows its continued momentum. GCC revenues increased from 40.4 billion dollars in FY19 to 64.6 billion dollars in FY24, reflecting consistent growth despite global economic shifts. Government projections show an even faster rise by 2030, with estimates of 105 billion dollars in GCC revenue supported by nearly 2,400 centres and 2.8 million professionals. This outlook points to sustained global enterprise investment and India’s expanding role in mission critical technology operations.
Government data also highlights India’s strong talent advantage. The country contributes 28 percent of the global STEM workforce and represents 23 percent of the world’s software engineering talent. This makes country one of the most attractive talent hubs for multinational companies seeking scale, specialisation, and innovation strength.
Overall, the latest numbers show that India’s GCC industry is evolving into a strategic global powerhouse. The centres are moving far beyond traditional support roles and becoming key hubs for innovation, engineering leadership, and digital transformation.
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