India’s GCCs: A Rising Global Powerhouse
During a significant visit to New Delhi, a delegation from the International Labour Organization (ILO), led by Director General Gilbert F. Houngbo, toured the HSBC Global Capability Centre (GCC) in Gurugram. The visit, organized by the Ministry of Labour & Employment and the Confederation of Indian Industry (CII), included key officials such as Secretary Sumita Dawra and Ambassador Arindam Bagchi. The discussions highlighted India’s growing role in the global digital economy and the impressive expansion of its GCC sector.
India’s GCC Sector: A Booming Industry
Secretary of the Ministry of Labour & Employment, Sumita Dawra, emphasized the vital role of Global Capability Centres (GCCs) in India’s economy. Currently, India hosts over 1,700 GCCs, employing approximately 1.9 million professionals and generating a staggering $64.6 billion in revenue as of 2024. Major hubs for these centres include Bengaluru, Hyderabad, Pune, Chennai, Mumbai, and the National Capital Region (NCR). The sector is projected to grow significantly, with estimates suggesting it could reach $105 billion by 2030, creating around 2.8 million jobs. This growth solidifies India’s position as a global leader in enterprise operations and innovation.
Innovation and Talent Pool Driving Growth
Director General Gilbert F. Houngbo noted that India’s competitive edge stems from its vast and diverse talent pool, which is crucial for fostering innovation and business development. He pointed out the increasing establishment of GCCs in emerging sectors such as artificial intelligence, cybersecurity, cloud computing, and semiconductors. These developments indicate a shift towards higher-value services, with GCCs transitioning from traditional data processing to more complex knowledge processing roles.
India’s prominence in digital transformation is evident, with 40% of such projects originating from GCCs. The influx of GCCs from countries like Germany, the UK, Japan, and Nordic nations further underscores India’s growing importance in the global market.
Future-Ready Workforce and Economic Impact
The emergence of a young, talented workforce positions India as a hub for innovation. The adoption of hybrid work models, a focus on diversity, and initiatives for upskilling in areas like AI, cybersecurity, and blockchain are creating a future-ready professional landscape. The establishment of GCCs has not only spurred economic growth but has also contributed to job creation, technology transfer, and skill development, benefiting the local economy significantly.
During the discussions, it was proposed that a case study showcasing India’s success as a GCC hub would be developed in collaboration with the ILO. This case study aims to highlight the balance between promoting business growth and ensuring social protection and regulatory compliance, with plans to present it at various international forums.
Observer Voice is the one stop site for National, International news, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.