Number of global capability centres may rise to 5,000 in two years, says ICAI president

New Delhi: The number of global capability centres (GCC) in India is likely to increase to over 5,000 in the next two years from the current around 1,700, the Institute of Chartered Accountants of India (ICAI) President Charanjot Singh Nanda said on Friday.

Bengaluru, which hosts over a one-third of India’s GCC workforce, will continue to lead the growth. Hyderabad, Pune, Chennai, Mumbai, and the National Capital Region (NCR) Delhi, are among the key GCC hubs. A substantial growth in the GCC market is projected to come from the Tier 2 cities.

Talking to reporters on the sidelines of the GCC Summit organised by the ICAI, Nanda said the annual revenue generated by GCCs would cross the $100 billion mark in the next few years. GCC revenue stood at around $65 billion in 2024.

Nanda said GCC would create high quality jobs in the coming years. The sector is expected to be led by chartered accountants, finance and IT professionals. Around 19 lakh professionals were estimated to be employed in the GCCs. This number is projected to increase to 28 lakh by 2030.

“Already around 80,000 chartered accountants are employed in GCCs. Our vision is not just to be employees. We want to drive the entire course - learn, innovate, and create entrepreneurial opportunities,” ICAI President said.

He said CAs were playing a “pivotal role in delivering strategic and operational excellence in areas such as finance, compliance, taxation, risk management, governance, and business analytics.”

The growth in the GCC is expected to be led by technology-driven sectors like artificial intelligence, cybersecurity, cloud computing and semiconductors.

Speaking at the GCC Summit a joint secretary in the Ministry of External Affairs Mahaveer Singhvi said Indian GCCs are serving over 1000 global enterprises.

GCCs are no longer limited to routine back-office operations but are increasingly playing a pivotal role in areas like risk management, cybersecurity, AI-enabled finance, ESG (environmental, social and governance) reporting, and digital tax advisory, he said.

“India is not just exporting goods anymore. We are exporting compliance, financial clarity, and resources,” Singhvi said.

GCCs in India have evolved from back-office support roles to a key player in the tech sector. These centres typically function as offshore units of multinational corporations. It connects organizations to a global pool of top-tier talents equipped with the latest technology.