India is expected to see an uptick in mid-market firms setting up global capability centres (GCC) in the country, with revenue from this segment projected to increase 15-20% between 2024 and 2026, according to data sourced from ANSR, which helps set up these facilities.
As per industry estimates, about 45% of India’s 1,760 current GCCs are from the mid-market, defined as having a turnover of $100 million to $5 billion. They employ 220,000 people. ANSR anticipates over 120 new mid-market GCCs to be set up by next year and estimates revenues to grow from $6.5 billion in 2024 to $7.5-7.8 billion in 2026.
“Mid- and small-sized companies are increasingly leveraging India’s GCC ecosystem, taking advantage of its evolved talent pool, cost efficiencies and maturing service delivery models,” said Rohitashwa Aggarwal, partner, Everest Group.
