Global Capability Centers (GCCs) in India are experiencing a dream run, surpassing the hiring numbers of the traditional IT/ITES sector. According to a TOI report, out of the 1.2 lakh new hires in the tech industry for 2024-25, GCCs accounted for a staggering 1 lakh—up by 10,000 from the previous year’s 90,000.
In contrast, IT companies hired only 11,000 professionals in the first nine months of 2024-25. The top five Indian IT services firms collectively expanded their workforce by just 5,190 employees during the entire 2023-24 financial year, reflecting a slowdown in hiring.
Despite India’s tech sector being on track to become a $300 billion industry by 2025-26, business models are evolving toward dynamic, outcome-based structures. For the first time, Nasscom reported an equal split in export revenues of $224 billion between MNCs (including GCCs) and Indian IT firms, with each contributing $112 billion.
