INDIA, 16th January 2025: According to the ANSR Q3 GCC Report, India has firmly established itself as a global hub for GCCs, with 450+ Forbes Global 2000 companies operating over 825 centers. ANSR highlights that this vibrant ecosystem includes not just large corporations but also mid-market players and smaller enterprises, creating a dynamic and diverse landscape.
ANSR’s report underscores the critical role of India’s robust service provider network, innovative startups, highly skilled workforce, and supportive government policies in accelerating GCC growth. As a leader in enabling and scaling GCC operations, ANSR continues to shape the future of this sector, driving transformation and positioning India as the go-to destination for global business innovation.
This report that captures the GCC trends and movements of 2024, predicts India’s potential to become a premier GCC hub, potentially accommodating over 32% of Forbes 2000 enterprises. By the year 2030, India could host around 620+ Forbes 2000 enterprises. Furthermore, as the competition for talent remains intense, GCCs must invest in cultivating a positive work culture and enhancing the overall value proposition for their employees.
Here are the key findings of the report
India: The GCC hub for Forbes Global 2000 companies:
As of 2024, over 450 Forbes Global 2000 companies have established GCCs in India employing close to 1.3M professionals, reflecting the country’s growing prominence as a global hub for innovation and operational excellence.
45% of Forbes Global 2000 GCCs have expanded their presence across multiple cities with multi-center operations
Over the last five years, 110+ additional companies have joined this trend, exceeding the total beyond, marking a 32% growth since 2019.
Bengaluru emerges as the dominant GCC-hub, hosting over 285 Forbes Global 2000 companies and employing more than 560K professionals. Hyderabad follows closely, with over 110 Forbes Global 2000 companies that employs more than 190K professionals, emerging as a key location due to its rich talent pool, state of-the-art infrastructure, and business-friendly government policies. Non-metro cities like Ahmedabad, Vizag, Trivandrum, Kolkata, Bhubaneshwar, and Coimbatore find their name in the list of emerging cities, preferred for GCCs.
As of 2024, about 256 GCCs in India– that account for about 60% of the total captive share in the country are of North American origin. Interestingly, majority of these are headquartered in the United States. Additionally, 125+ GCCs are from Europe, further solidifying India’s role as a global hub for international enterprises.
Key Capabilities in Focus Newly Set Up GCCs
The BFSI sector dominates GCCs in India, followed by Manufacturing and Retail/CPG. There is also a strong focus on digital technologies, with 85% of GCCs engaged in digital commerce initiatives. Newly set up GCCs are prioritizing advanced digital capabilities, with 90% focusing on AI/ML and data analytics, indicating a strong shift toward innovation-driven operations.
Traditionally introduced in later stages, non-tech functions like Finance & Accounting (25%) and Human Resource Management (25%) are now being incorporated from the start, reflecting an evolved approach to GCC setup highlighted the ANSR report.
Cybersecurity (40%) and cloud capabilities (50%) are increasingly emphasized, supported by India’s skilled talent pool and service providers like Infosys, TCS, and Wipro, strengthening India’s position as a global GCC hub.
Surge in GCC Leasing Demand
According to the ANSR Q3 GCC Report, Bengaluru leasing 62% of the total space captured by GCCs in India, emerging as the most preferred location due to its infrastructure and talent pool. Hyderabad followed as the second choice with 15% share.
Over 8.2 million sq. ft. of space was leased by GCCs in Q3 2024, representing 44% of the overall office leasing in India, highlighting the rapid expansion of GCCs across the country.
The majority (58%) of GCC leasing activity came from BFSI, (19%) Retail/CPG (18%), and Healthcare & Lifesciences (11%), emphasizing strong demand from these industries.
Companies like Walmart, Sanofi, NatWest Group, Flutter Entertainment, and Delta were key players in leasing activity, reflecting their strategic focus on leveraging India’s talent and infrastructure for growth.
Forbes Global 2000 GCCs in India Forecast and Outlook
GCCs are emphasizing a collaborative ecosystem by actively partnering with stakeholders and aligning with company goals. This approach fosters innovation through best-sourcing strategies and impactful partnerships. There is a growing trend of GCCs exploring non-metro cities in states like Karnataka, Tamil Nadu, and Uttar Pradesh to capitalize on lower operational costs, untapped talent pools, and a conducive business environment.
India is becoming a strategic hub for GCCs, not only for operational support but also for leadership. GCCs are enabling global leadership roles and accountability for business outcomes, positioning themselves as integral parts of global decision-making.
“Global Capability Centres are playing a pivotal role in India’s growth story as they are leading the tech revolution across sectors through cutting-edge innovation,” said Vikram Ahuja, Co-founder ANSR, and CEO Talent500. “India’s skilled workforce and expertise in emerging technologies like AI, data analytics, and cybersecurity make it a preferred destination for GCCs. Combined with government incentives and policies promoting GCC-focused infrastructure, India is set to accommodate over 620+ new GCCs by Forbes 2000 companies by 2030 that would be employing over 1.9 million professionals.”