Latest News | Global Roles Within GCCs Expected to Grow over 4-fold to 30,000 by 2030: Survey

New Delhi, Jan 31 (PTI) Global roles within Global Capability Centres (GCCs) established in India are expected to grow over four-fold to 30,000 by 2030, the Economic Survey 2024-25 said on Friday.

According to experts, the view of the companies across the globe for India is changing from being a low-cost destination to centre for innovation and highly skilled talents that is leading to more global roles coming to the country.

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The survey said India has established itself as a prominent player in leveraging its vast talent pool, which accounts for 28 per cent of the global (science, technology, engineering, mathematics) STEM workforce and 23 per cent of the global software engineering talent.

"Over the past decade, the GCC ecosystem in India has matured significantly, advancing into high-end engineering roles such as product managers and architects, with 35 per cent of transformation hubs exhibiting a strong presence of architects.

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"Furthermore, global roles within GCCs are expanding rapidly, expected to grow from currently 6,500 to over 30,000 by 2030, supported by robust training programmes to develop leadership," the survey said.

The number of GCCs in India has grown from about 1,430 in FY19 to over 1,700 in FY 2024.

As of FY24, GCCs in India employed nearly 1.9 million professionals. Over the past five years, India has remained at the forefront of the global GCC expansion strategy, with more than 400 new GCCs and about 1,100 new units established, the survey said.

According to the survey, expansion of the scope of safe harbour rules and streamlining transfer pricing assessment procedures are expected to make the country's transfer pricing regime more attractive and competitive, boost IT exports, and ease business for GCCs and the IT services industry.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)