GCCs to contribute 2% to India's GDP, create 2.8 million jobs by 2030: Report
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Global capability centres (GCCs) are set to contribute 2% of India's GDP and generate 2.8 million jobs by 2030, and are emerging as a key growth and employment generator, according to a report by ACCA (the Association of Chartered Certified Accountants ).GCCs, also known as Global In-house Centres (GICs) or Captive Centres, are fully owned and integrated hubs established by multinational corporations in talent-rich locations to build value and intellectual property.They leverage global talent pools and technological advancements to enhance organisational capabilities and drive business transformation.With over 1700 GCCs in 2023-24, which is expected to rise to over 2200 by 2030, India has become the prominent destination for the MNCs to set up their centres.Highlighting the favourable factors, the report said that a skilled workforce, favourable government policies, and improving infrastructure fuel the growth of GCCs in India.In Financial Year 2024, GCCs generated approximately USD 64.6 billion in export revenue: a 40% increase from USD 46 billion in FY23.The report added that about 20,000 global leadership roles are projected to be based in India by 2030.The growth of GCCs in India is most prominent in Tier-1 cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, respectively.This is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently nearly 1,700 centres, over 53% of the total 3,200 globally.GCCs have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favourable business environments.The report highlights that the finance roles in GCCs have shifted from doing basic transaction-focused accounting to creating value for the organisation through process improvement and cost transformation initiatives. Opportunities abound in business partnering, procurement, reporting, planning, and analysis.While entry-level roles focus on data analytics, financial planning and analysis (FP&A), and compliance management, mid-level roles are shifting to process improvements and driving transformation, the report added.
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