Why is it in News?
→ GCCs have emerged as the primary driver of India’s technology job market.
→ They contrast with the hiring slowdown in large Indian IT firms.
Important Points
- GCCs are offshore offices or subsidiaries of multinational corporations.
- Also known as Captive Centres.
- Handle IT support, R&D, data analytics, finance, HR, and back-office services.
- Initially established in India for cost advantages.
- India hosts around 1,850 GCCs.
- Employ nearly two million professionals in India.
- Projected to exceed 2,400 GCCs by 2030.
- Expected to employ over three million workers by 2030.
- Target market size of $125 billion.
- Major hubs include Bengaluru, Hyderabad, Pune, Chennai, Mumbai, and NCR.