India is expected to have more than 2,400 Global Capability Centres (GCCs) by 2030, according to a new report by staffing firm TeamLease Services, cited by Reuters. The report added that the US government’s tighter immigration rules under President Donald Trump, especially around H-1B visas, have done little to slow down multinational companies from expanding their operations in India.
India to host over 2K global capability by 2030
Currently, India is home to 1,800 GCCs, which range from manufacturing and financial services to technology and analytics. These centres make up more than half of all such facilities globally and contribute around $64.6 billion in export revenue. TeamLease estimates this figure could double by 2030. The survey further estimates an economic value of $110 billion to be generated in the same time period.
For the unversed, GCCs are offshore units of multinational corporations. It provides specialised services like IT, R&D, finance, and customer service. These capability centres are strategically located in places which have access to skilled workforce and profitable business environments.
India’s next wave: Small “nano-GCCs” in AI and R&D
According to Neeti Sharma, CEO of TeamLease Digital, the next growth phase will come from smaller setups called “nano-GCCs.” These centres will have less than 100 employees focusing on research, development, and artificial intelligence.
“In the long run, we hear global leaders talk about more work coming into India… Out of the top 500 global firms, almost 50–60% are already here and are continuing to hire,” Sharma said.
‘Hiring won’t change’: TeamLease CEO
After US President Donald Trump signed a proclamation in September imposing a hefty $100,000 fee on new H-1B visa applications as part of his ongoing immigration crackdown, global tech firms raised concerns over possible taxes on outsourced work. However, TeamLease RegTech CEO Rishi Agarwal said such political measures won’t affect long-term hiring strategies. “People don’t just change hiring and firing plans at the whim of some political policy-related decision,” Agarwal told Reuters.
One of the main reasons for this confidence is that GCC operations in India are no longer limited to US-based firms. Many European and Southeast Asian companies are also setting up companies here, impressed by India’s skilled workforce and lower wages. Several state governments, including Uttar Pradesh, have even launched dedicated GCC policies to bring in more investments.
Uttar Pradesh rolls out GCC policy to attract Fortune 500 firms
Back in May, the Uttar Pradesh government announced its Global Capability Centres (GCC) Policy 2024. The project aims to transform cities such as Noida, Lucknow, Kanpur, and Varanasi into major technology and digital service hubs.
The policy even targets the creation of over 2 lakh high-paying jobs in the next five years, the state government said in a statement. It focuses on attracting the Fortune 500 companies and boost foreign direct investment (FDI), as part of Chief Minister Yogi Adityanath’s vision of turning Uttar Pradesh into a $1 trillion economy.
To attract global tech giants, the government will offer customised incentive packages for GCCs set up by Fortune 500 companies, India’s top 500 corporates, or firms with FDI exceeding ₹100 crore.