According to reports, over the past 18 years, India's contribution to global services exports has more than doubled, and the development of global capability centers (GCCs) has been essential to this growth.

The introduction of GCCS has bolstered real estate, increased exports of services, contributed to economic expansion, generated jobs, and resulted in a sharp rise in profits for these businesses. Global Corporate Communities (GCCs) are specialized offshore entities established by multinational corporations. These centers provide a wide range of company operations, including finance, IT, HR, and analytics.

According to Goldman Sachs reports, revenues of GCCs in India have grown nearly 4x at a CAGR of 11.4 percent over last 13 years to $46 billion as of FY23. The number of GCCs has more than doubled from 700 to 1,580 over the same time period, with the sector adding around 1.3 million employees (11.6 percent CAGR), taking the total employee headcount to 1.7 million in FY23.

Revenues of GCCs in India have grown nearly 4x at a CAGR of 11.4 percent over last 13 years to $46 billion as of FY23. The number of GCCs has more than doubled from 700 to 1,580 over the same time period, with the sector adding around 1.3 million employees (11.6 percent CAGR), taking the total employee headcount to 1.7 million in FY23.

According to reports, India’s services exports grew to nearly $340 billion in 2023 at a CAGR of around 11 percent from 2005 (nearly double global growth) outpacing goods export growth. As a result, India’s share in global services exports rose from under 2 percent in 2005 to 4.6 percent in 2023, while India’s share in goods exports only increased from one percent in 2005 to 1.8 percent in 2023.