Latest news with #ShrinivasRao
Time of India
4 hours ago
- Business
- Time of India
India to have more than 2,100 global capability centres by March 2028: Report
India will surpass 2,100 global capability centres (GCC) by financial year 2028, growing at a compound annual growth rate (CAGR) of 8%, with an estimated 150 new centres added annually, according to the recent report by report also reveals that, the growth of GCCs in India is most prominent in tier-I cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, respectively. This is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently having nearly 1,700 centres, over 53% of the total 3,200 globally. While these urban centres continue to dominate, there's a notable shift toward tier-II cities. This transition is being supported by the Union Budget 2025, which proposes a national framework to encourage the expansion of GCCs in emerging markets. Sector-wise, the IT-ITeS industry holds the biggest share of GCCs at 49%, followed by the banking, financial services, and insurance (BFSI) sector at 17%. Other contributors include healthcare, engineering, consulting, and telecom, collectively forming 19% of the market. "India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian. "However, selecting the right location remains critical to the long-term success of any GCC. Vestian's GCC Market Entry Index serves as a strategic tool to support companies in identifying optimal locations that align with their business objectives," he added. Global capability centres (GCCs) are offshore units established by multinational corporations to centralise and enhance various business functions, leveraging global talent and technology. These centres have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favourable business environments.
Mint
4 hours ago
- Business
- Mint
Around 55 pc of total GCCs in India in Bengaluru, Hyderabad, Chennai: Vestian
New Delhi, Jul 21 (PTI) Bengaluru, Hyderabad, and Chennai together have 922 global capability centres (GCCs), around 55 per cent of the total such facilities in India, according to Vestian. In a statement on Monday, US-based real estate consultant Vestian stated that India houses nearly 1,700 GCCs spread across Tier-1 and Tier-2 cities, accounting for around 53 per cent of the about 3,200 GCCs worldwide. "India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," Vestian CEO Shrinivas Rao said. However, he noted that selecting the right location remains critical to the long-term success of any GCC. According to Vestian, India's top six cities -- Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, and Pune -- account for 94 per cent of the total number of GCCs in the country. The rest are spread across various states. The consultant projected that the total number of GCCs in India could exceed 2,100 by the end of the 2027-28 fiscal year. On an average, it said around 150 new GCCs are expected to be established annually. In India, nearly 50 per cent of the total GCCS are of IT-ITeS sector, followed by the BFSI (banking, financial services and insurance) sector that holds 17 per cent share. On city-wise analysis, Vestian said there are 487 GCCs in Bengaluru, accounting for 29 per cent of the total number of GCCs in the country. Hyderabad has 273 GCCs, Delhi-NCR houses 272 GCCs, Mumbai 207 GCCs, Pune 178 GCCs, and Chennai 162 GCCs. There are 922 GCCs in the three southern cities -- Bengaluru, Hyderabad and Chennai -- the data showed. Commenting on the report, Gurugram-based property consulting firm InfraMantra Founder Shiwang Suraj said the Delhi-NCR accounts for 16 per cent of the total GCCs in the country. "The accelerated infrastructure development, ease of doing business and skilled manpower have attracted these companies to Delhi-NCR," he added.
Time of India
4 hours ago
- Business
- Time of India
India to have more than 2,100 global capability centres by March 2028: Report
Academy Empower your mind, elevate your skills India will surpass 2,100 global capability centres (GCC) by financial year 2028, growing at a compound annual growth rate (CAGR) of 8%, with an estimated 150 new centres added annually, according to the recent report by report also reveals that, the growth of GCCs in India is most prominent in tier-I cities, with Bengaluru leading the pack with 487 centres (29% of India's total). Hyderabad follows closely with 273 GCCs (16%), while the NCR region hosts 272 centres. Mumbai, Pune, and Chennai also contribute significantly, accounting for 12%, 11%, and 10% of the national total, is a reflection of India's effort to establish itself as the world leader in housing Global Capability centres (GCCs), with currently having nearly 1,700 centres, over 53% of the total 3,200 these urban centres continue to dominate, there's a notable shift toward tier-II cities. This transition is being supported by the Union Budget 2025, which proposes a national framework to encourage the expansion of GCCs in emerging the IT-ITeS industry holds the biggest share of GCCs at 49%, followed by the banking, financial services, and insurance (BFSI) sector at 17%. Other contributors include healthcare, engineering, consulting, and telecom, collectively forming 19% of the market."India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," said Shrinivas Rao, CEO, Vestian."However, selecting the right location remains critical to the long-term success of any GCC. Vestian's GCC Market Entry Index serves as a strategic tool to support companies in identifying optimal locations that align with their business objectives," he capability centres (GCCs) are offshore units established by multinational corporations to centralise and enhance various business functions, leveraging global talent and technology. These centres have evolved from cost-saving units to strategic hubs driving innovation, operational efficiency, and business growth. GCCs are strategically located in countries like India, offering access to diverse talent pools, robust ecosystems, and favourable business environments.
News18
5 hours ago
- Business
- News18
Around 55 pc of total GCCs in India in Bengaluru, Hyderabad, Chennai: Vestian
New Delhi, Jul 21 (PTI) Bengaluru, Hyderabad, and Chennai together have 922 global capability centres (GCCs), around 55 per cent of the total such facilities in India, according to Vestian. In a statement on Monday, US-based real estate consultant Vestian stated that India houses nearly 1,700 GCCs spread across Tier-1 and Tier-2 cities, accounting for around 53 per cent of the about 3,200 GCCs worldwide. 'India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment," Vestian CEO Shrinivas Rao said. However, he noted that selecting the right location remains critical to the long-term success of any GCC. According to Vestian, India's top six cities — Bengaluru, Hyderabad, Chennai, Delhi-NCR, Mumbai, and Pune — account for 94 per cent of the total number of GCCs in the country. The rest are spread across various states. The consultant projected that the total number of GCCs in India could exceed 2,100 by the end of the 2027-28 fiscal year. On an average, it said around 150 new GCCs are expected to be established annually. In India, nearly 50 per cent of the total GCCS are of IT-ITeS sector, followed by the BFSI (banking, financial services and insurance) sector that holds 17 per cent share. On city-wise analysis, Vestian said there are 487 GCCs in Bengaluru, accounting for 29 per cent of the total number of GCCs in the country. Hyderabad has 273 GCCs, Delhi-NCR houses 272 GCCs, Mumbai 207 GCCs, Pune 178 GCCs, and Chennai 162 GCCs. There are 922 GCCs in the three southern cities — Bengaluru, Hyderabad and Chennai — the data showed. Commenting on the report, Gurugram-based property consulting firm InfraMantra Founder Shiwang Suraj said the Delhi-NCR accounts for 16 per cent of the total GCCs in the country. 'The accelerated infrastructure development, ease of doing business and skilled manpower have attracted these companies to Delhi-NCR," he added. The increasing number of GCCs has been an important factor in driving demand for office spaces and apartments in the Delhi-NCR property markets, Suraj said. PTI MJH TRB view comments First Published: July 21, 2025, 16:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India Today
6 hours ago
- Business
- India Today
India now hosts over half the world's GCCs, led by Bengaluru
India is now home to more than 53% of the world's Global Capability Centres (GCCs), according to a new report by Vestian Research, which maps the evolution and spread of these centres across the country. Of the estimated 3,200 GCCs globally, nearly 1,700 are located in India, solidifying the country's position as the world's leading destination for global operations, research and development, and digital began in the 1990s as a cost-saving model for back-office and IT support has matured into a strategic, innovation-driven ecosystem. GCCs today are no longer just extensions of global headquarters; they are increasingly core to how multinational firms operate and remains the beating heart of India's GCC landscape, with 487 centres accounting for 29% of the national total. Hyderabad follows with 273 centres (16%), the fastest-growing GCC destination in the country. The National Capital Region (NCR) is close behind with 272 centres, also at 16%, bolstered by its proximity to policymakers and strong infrastructure. Mumbai has 207 centres, Pune 178, and Chennai 162. Together, these six cities account for 94% of all GCCs in Vestian's report highlights a growing shift. With the Union Budget 2025 proposing a national framework to support GCC growth in Tier-2 cities, global companies are beginning to look beyond traditional Kochi, Coimbatore, Indore, Mohali, Bhubaneswar, and Madurai are among the emerging hubs drawing attention. As infrastructure improves and state governments offer competitive incentives, these cities are expected to absorb a significant share of the 150 new GCCs projected to be established each year. Vestian estimates that India will house over 2,100 GCCs by FY 2028, growing at a compound annual rate of 8%.While IT and ITeS companies still dominate—making up 49% of all GCCs—other sectors are steadily expanding their footprint. The BFSI (Banking, Financial Services and Insurance) sector accounts for 17%, while healthcare, manufacturing, telecom, and consulting together contribute another 19%. This diversification marks a shift in how GCCs are being used, with many now driving core innovation and business strategy.'India's leading office markets continue to offer a compelling value proposition to GCCs, characterised by competitive costs, a highly skilled workforce, robust infrastructure, progressive policy incentives, and a conducive business environment,' said Shrinivas Rao, FRICS, CEO of Vestian. 'However, selecting the right location remains critical to the long-term success of any GCC.'Vestian's GCC Market Entry Index has been designed to support companies in making those choices, helping them align location strategy with sector-specific business growing dominance in the GCC space isn't just a numbers game. As global firms chase efficiency and talent across geographies, the country's urban map is beginning to redraw the right policy push and infrastructure momentum, the next phase of GCC expansion could belong as much to Bhubaneswar and Coimbatore as it has to Bengaluru and Hyderabad.- Ends
