India has consistently positioned itself as the premier destination for global companies seeking to foster innovation, tap into a pool of skilled talent, nurture future leaders and develop cutting-edge products. As of today, the country is home to over 1,580 GCCs, up from more than 1,430 in FY2021. The onset of 2023 brought forth a challenging landscape characterised by economic uncertainties, geopolitical tensions and inflationary pressures, impacting global expansion endeavours. Consequently, GCCs in the first half of the year adopted a cautious approach to navigate through prevailing uncertainties and reevaluated their strategic outlook. However, India's resilience and compelling value proposition emerged prominently during the second half of the year. 116 GCCs expanded their operations or established new centers between Q1 2023 and Q1 2024, highlighting the strong and sustained appeal of India's GCC ecosystem. This growth is not limited to companies based in the US; non-US multinational companies also significantly contribute to the growing trend of GCCs in India. During the same period, 48 non-US GCC units were established in India, indicating a broadening international interest in leveraging India's capabilities for global operations and support.
Companies from non-US regions such as Europe (Germany, UK, France, Switzerland, Austria); Asia (Japan, South Korea, Singapore); the Middle East (UAE, Israel); Australia and Canada are increasing their presence in India.
