Bengaluru, & Hyderabad remain favourites of GCCs for setting up centres

Bengaluru, 3 September Bengaluru & Hyderabad remain the most preferred cities for multinational corporations to set up global capability centres (GCCs) in India. These two southern cities continue to attract maximum number of GCCs with the most number of companies setting up bases in the April-June period of 2022, a Nasscom-Zinnov report said.

During this period, 19 GCCs came up in India with 17 setting up base in tier-I cities and two in tier-II cities. Not only new GCCs, even existing ones expanded in about 11 centers across India in April-June period.

"Bengaluru & Hyderabad with three centres each emerged as the top choices for centre expansion of existing GCCs, followed closely by NCR with two new centres in Q2 2022," the report said.

US-headquartered MNCs constituted around 63 per cent of new GCCs as well as new centres of existing GCCs that were expanded in the country, it added.

According to the report, nearly three-quarters of the new GCCs established in India operate from the software & internet, retail, and BFSI verticals.

Emerging areas such as artificial intelligence (AI), natural language processing (NLP), data science, Web 3.0, and robotics have emerged as the most focussed technology domains of these GCCs.

India is home to more than 1,500 GCCs, which has seen a CAGR of 11 per cent during FY15-FY21 period. During this period, more than 15 per cent of BFSI GCCs have entered into India.

Financial services institutions including JPMorgan Chase, HSBC, Wells Fargo, Bank of America, and Barclays among others have the highest headcount among the global captives. JPMorgan Chase, and Goldman Sachs are the GCCs which expanded their presence in India in the last two years.

With a large engineering talent base, India has emerged as one of the key geographies for global companies to set up technology centres. These centres are building technology products and services for global centres from India.

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