In recent years, India has been making a name for itself in the world of technology, moving beyond its traditional role as a back-office hub to become a global force in the IT sector. Companies like Tata Consultancy Services (TCS) have played a significant part in this transformation, providing IT services to clients around the world and growing into a behemoth worth $170bn.
However, the rise of “global capability centres” (GCCs) is changing the game. These centres, where multinational companies carry out complex tasks ranging from design to research, are challenging the traditional view of India as just a provider of outsourcing services.
The IT sector in India is already a powerhouse, contributing approximately $250bn in annual revenues and accounting for 7% of the country’s GDP. But with around 1,600 GCCs now operating in the country and major companies like Amazon and Goldman Sachs establishing significant operations there, it’s clear that this trend is not slowing down anytime soon.
In fact, new GCCs are opening at a rapid pace of around one per week, as India continues to develop world-class companies of its own. The future of GCCs in the country remains a topic of interest and speculation, but one thing is certain: India’s role in the global technology landscape is only set to grow.
