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New GCCs set up and existing GCCs expansion in India – An overview
New GCCs set up and existing GCCs expansion in India – An overview

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The overall GCC ecosystem in India is over 1580, with the GCC market size crossing USD 46 bn (as of FY2023). India continues to be the destination of choice for various global companies to come and set up their GCCs. Whether it is the diverse ecosystem, availability of skilled talent, a robust innovation network, etc, India remains popular.

In the first half of CY2023, 18 new GCCs were set up in India, 9 each in Q1 and Q2 of CY2023, all of which were in Tier 1 cities of Bengaluru, Hyderabad, Mumbai, and Pune. Some prominent names include Blackberry, Truecaller, Berry, Lloyds Banking Group, Inspire Brands, Greenlight, etc.

Approximately, 44% of the new GCCs established in H1CY2023 were from the Software and internet vertical, followed by BFSI, Chemicals and materials, and Retail verticals. In addition, over 83% of the new GCCs have all three functional areas of ER&D, IT, and BPM.

 

New GCCs set up in India in H1 CY2023

GCC 4

 

With respect to the expansion of centres, 23 new centres were established by existing GCCs. Some of the notable names include Pernod Ricard, Bristol Myers Squibb, DE Shaw and Co, Harman, Deloitte, among others.

 

Expansion of centres of established GCCs in India in H1 CY2023

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Prominent verticals who expanded in India include Industrial, Semiconductors, and Software and internet industries. These were not only in Tier 1 cities, but also in Tier 2 cities such as Vadodara, Nashik, Tirunelveli, and Coimbatore and increasingly considered for opening new centres by these established GCCs.

For both the new and existing GCCs in H1CY2023, data science, data and analytics, digital innovation, web applications, platform engineering, automation, and software development are some of the major focus areas.

The India GCC story continues to be robust and the fact that India's mature ecosystem is much coveted, and these GCCs have made themselves indispensable parts of HQ is a testament to that.

 

To know more details, download the report from the following links –

Nasscom Community - https://community.nasscom.in/communities/gcc/nasscom-zinnov-india-gcc-trends-half-yearly-analysis

Nasscom website - https://nasscom.in/knowledge-center/publications/nasscom-zinnov-india-gcc-trends-half-yearly-analysis 


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Vandhna Babu
Principal Analyst - Research

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