The rise of the GCC ecosystem in India

Global capability centres (GCC) have been mushrooming in India over the past few years, with over 1,580 GCCs and an installed talent base of over 1.66 million currently.

A new report by IT industry apex body Nasscom and Zinnov found that in the fourth quarter of calendar year 2023, India saw 10 new GCCs established, marking the entry of key MNCs like Edge Cortix, M31 technology Corporation, Signature IP into the Indian market. US-headquartered MNCs accounted for around 50% of the new GCCs.

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Artificial intelligence, machine learning, advanced analytics, cybersecurity, ADAS solutions, in-vehicle infotainment, AI hardware solutions, powertrain, foundational IP solutions were some of the major focus areas for the new GCCs as well as the new centres for existing GCCs in Q4 CY2023.

About 60% of the new GCCs established in India have all three functional areas — ER&D, IT and BPM. “India has firmly established itself as the go-to-destination for Global Capability Centres (GCCs), attracting an increasing number of global companies seeking to leverage the country’s unparalleled advantages,” the report said. Notably, around onethird of GCCs established in the quarter were for semiconductors, at a time when India is vying to become a semiconductor industry hub.