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‘Bengaluru Home to 60% of Forbes Global 2000 GCCs in India’

New Delhi, January 16, 2025: India has firmly established itself as a global hub for GCCs, with 450+ Forbes Global 2000 companies operating over 825 centres, says the ANSR Q3 GCC Report. ANSR highlights that this vibrant ecosystem includes not just large corporations but also mid-market players and smaller enterprises, creating a dynamic and diverse landscape.

This report that captures the GCC trends and movements of 2024, predicts India’s potential to become a premier GCC hub, potentially accommodating over 32 per cent of Forbes 2000 enterprises. By the year 2030, India could host around 620+ Forbes 2000 enterprises. Furthermore, as the competition for talent remains intense, GCCs must invest in cultivating a positive work culture and enhancing the overall value proposition for their employees.

Key Findings of the Report

  • As of 2024, over 450 Forbes Global 2000 companies have established GCCs in India employing close to 1.3 million professionals, reflecting the country’s growing prominence as a global hub for innovation and operational excellence.
  • 45 per cent of Forbes Global 2000 GCCs have expanded their presence across multiple cities with multi-center operations
  • Over the last five years, 110+ additional companies have joined this trend, exceeding the total beyond, marking 32 per cent growth since 2019.
  • Bengaluru has emerged as the dominant GCC-hub, hosting over 285 Forbes Global 2000 companies and employing more than 560,000 professionals. Hyderabad follows closely, with over 110 Forbes Global 2000 companies that employs more than 190,000 professionals, emerging as a key location due to its rich talent pool, state of-the-art infrastructure, and business-friendly government policies. Non-metro cities like Ahmedabad, Vizag, Trivandrum, Kolkata, Bhubaneshwar, and Coimbatore find their name in the list of emerging cities, preferred for GCCs.
  • As of 2024, about 256 GCCs in India– that account for about 60 per cent of the total captive share in the country are of North American origin. Interestingly, majority of these are headquartered in the United States. Additionally, 125+ GCCs are from Europe, further solidifying India’s role as a global hub for international enterprises.

Key Capabilities in Newly Set Up GCCs

The BFSI sector dominates GCCs in India, followed by Manufacturing and Retail/CPG. There is also a strong focus on digital technologies, with 85 per cent of GCCs engaged in digital commerce initiatives. Newly set up GCCs are prioritizing advanced digital capabilities, with 90 per cent focusing on AI/ML and data analytics, indicating a strong shift toward innovation-driven operations.

Traditionally introduced in later stages, non-tech functions like Finance & Accounting (25 per cent) and Human Resource Management (25 per cent) are now being incorporated from the start, reflecting an evolved approach to GCC setup highlighted the ANSR report. Cybersecurity (40 per cent) and cloud capabilities (50 per cent) are increasingly emphasized, supported by India’s skilled talent pool and service providers like Infosys, TCS, and Wipro, strengthening India’s position as a global GCC hub.

Surge in GCC Leasing Demand

According to the ANSR Q3 GCC Report, Bengaluru, leasing 62 per cent of the total space captured by GCCs in India, has emerged as the most preferred location due to its infrastructure and talent pool. Hyderabad followed as the second choice with 15 per cent share.

Over 8.2 million sq. ft. of space was leased by GCCs in Q3 2024, representing 44 per cent of the overall office leasing in India, highlighting the rapid expansion of GCCs across the country. The majority (58 per cent) of GCC leasing activity came from BFSI, (19 per cent) Retail/CPG (18 per cent), and Healthcare & Lifesciences (11 per cent), emphasizing strong demand from these industries.

Companies like Walmart, Sanofi, NatWest Group, Flutter Entertainment, and Delta were key players in leasing activity, reflecting their strategic focus on leveraging India’s talent and infrastructure for growth.

Forbes Global 2000 GCCs in India Forecast and Outlook

GCCs are emphasizing a collaborative ecosystem by actively partnering with stakeholders and aligning with company goals. This approach fosters innovation through best-sourcing strategies and impactful partnerships. There is a growing trend of GCCs exploring non-metro cities in states like Karnataka, Tamil Nadu, and Uttar Pradesh to capitalize on lower operational costs, untapped talent pools, and a conducive business environment.

India is becoming a strategic hub for GCCs, not only for operational support but also for leadership. GCCs are enabling global leadership roles and accountability for business outcomes, positioning themselves as integral parts of global decision-making.

“Global Capability Centres are playing a pivotal role in India’s growth story as they are leading the tech revolution across sectors through cutting-edge innovation,” said Vikram Ahuja, Co-founder ANSR, and CEO Talent500. “India’s skilled workforce and expertise in emerging technologies like AI, data analytics, and cybersecurity make it a preferred destination for GCCs. Combined with government incentives and policies promoting GCC-focused infrastructure, India is set to accommodate over 620+ new GCCs by Forbes 2000 companies by 2030 that would be employing over 1.9 million professionals.”

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