India’s Goal of 5,000 GCCs by 2030 is achievable: Nirmala Sitharaman
India's Global Capability Centre (GCC) ecosystem is entering a new growth phase, with Finance Minister Nirmala Sitharaman stating that the nation can accommodate close to 5,000 GCCs by 2030.
Addressing the CII GCC Business Summit 2026 in New Delhi, Sitharaman stated that India's blend of talent, infrastructure, and macroeconomic stability has positioned it as a favored location for multinational firms seeking to set up strategic operations and innovation centers.
According to reports, India currently has over 2,100 GCCs, employing more than 2.3 million professionals and producing approximately $100 billion in yearly revenue.
The finance minister remarked that the growth rate has notably quickened, as India transitioned from adding about one GCC weekly in 2024 to almost one new GCC daily on average.
Sitharaman stated that India is home to more than half of the world’s GCCs, with over 500 Forbes Global 2000 firms running capability centers in the nation. She characterized the sector as one of the nation’s largest unexploited investment potentials and stated that GCCs have progressed from their conventional role as support hubs to become strategic assets for international companies.
The upcoming stage of expansion is anticipated to be more geographically varied. Although Bengaluru, Hyderabad, and Gurugram have historically led the GCC scene, Sitharaman noted that rising cities like Varanasi, Chandigarh, Visakhapatnam, Tiruchirappalli, and Mysuru might evolve into significant centers for artificial intelligence, engineering design, and product development, the report stated.
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The finance minister highlighted in the report the potential contribution of GCCs to regional economic progress. Expanding business activities into Tier-II and Tier-III cities may generate high-quality employment, draw new investments, and boost regional development. A minimum of 10 states have either declared or are creating targeted GCC policies focused on attracting multinational firms and establishing specialized ecosystems.
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The type of work conducted in India’s GCCs is also evolving quickly. Businesses are progressively utilizing their Indian centers for artificial intelligence, engineering R&D, cybersecurity, product design, financial innovation, and enterprise transformation efforts, rather than confining them to back-office roles.
Over half of the newly created GCCs are now focused on AI as a priority, with engineering R&D being one of the quickest expanding capability sectors.
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Sitharaman stated that India's aspirations reach well beyond merely hosting capability centres. The overarching objective is to establish the country as a hub where international companies develop cutting-edge technologies, design innovative products, and influence business strategy. As the GCC sector progresses, India's value proposition is progressively transitioning from cost effectiveness to innovation, skill, and strategic decision-making.