India is standing at the edge of another transformational moment.
Today, nearly 15 lakh Indians work in Global Capability Centers (GCCs). By 2030, that number is expected to triple to 45 lakh professionals. According to EY, GCCs represent a ₹9 lakh crore economic opportunity over the next five years.
Major global corporations such as Google, Microsoft, SAP, JP Morgan, Target, and Wells Fargo already operate large GCCs in India. Similar to the IT boom of the 1990s, GCCs are positioned to drive the next phase of economic growth.
But what exactly is a GCC? How did we get here? And what does this shift mean for India and professional services firms going forward?
Let’s break it down.
India’s outsourcing journey began in the early 1990s, following economic liberalization. Interestingly, the earliest movers were foreign multinationals, not Indian companies.
This era coincided with the Y2K scare, which drove a surge in IT work being routed to India. While Y2K itself never materialized into a crisis, it accelerated trust in India’s technical talent at scale.
The late 1990s and early 2000s saw the rise of BPOs structured, SOP-driven operational work measured against SLAs. These centers handled:
This phase produced massive commercial success and gave rise to industry giants like Infosys and Wipro.
By the early 2000s, global firms realized something important:
India’s talent pool could do far more than basic operations.
This led to KPOs, where professionals applied domain expertise rather than following rigid workflows. Typical work included:
A landmark moment came in 2000, when McKinsey set up the McKinsey Knowledge Center in Gurugram, a move that validated India as a hub for high-value knowledge work.
Today, firms like EY, KPMG, and other Big Four members are among the largest contributors to India’s KPO ecosystem.
By the late 2000s and early 2010s, outsourcing matured further moving into:
Indian teams were no longer just supporting work they were building core business capabilities.
This raised a natural question for global firms:
If the talent, leadership, and innovation are already in India, why not build and operate these capabilities directly?
That realization led to the rise of Global Capability Centers (GCCs).
A GCC is a wholly owned and operated center of a multinational corporation, set up to serve its core business functions.
Unlike traditional outsourcing:
Typical GCC work includes:
A powerful example is JP Morgan’s Global Service Center, which builds trading systems, fraud models, and banking products directly from India.
This marks the final arc of India’s outsourcing evolution:
For years, metros like Bengaluru, Hyderabad, Pune, and Gurugram dominated GCC growth. That’s now changing.
Today:
Smaller and mid-sized global firms are increasingly choosing Tier-2 and emerging cities due to:
Examples include:
This decentralization is spreading economic opportunity far beyond major metros.
Trade agreements and global tax structures will influence talent mobility and cross-border operations but India continues to remain strategically attractive for global firms.
AI will increase productivity, especially in engineering and analytics roles. But rather than eliminating GCCs, it will change the nature of work, making centers more outcome-driven and innovation-focused.
GCC growth does not eliminate the need for structured operating partners. Instead, it creates opportunities for build-operate-transfer (BOT) and managed capability models, where firms can scale efficiently before transitioning ownership.
GCCs represent:
Over the next decade, GCCs are expected to:
This is not a passing trend. It’s a structural shift.
At MYCPE ONE, we work closely with this evolving global landscape.
We provide managed offshoring services specifically for accounting firms, supporting:
Our focus is not just staffing but building, managing, and optimizing offshore accounting teams that integrate seamlessly with firm leadership, processes, compliance needs, and long-term growth plans.
As GCC-style thinking extends beyond technology into finance, accounting, audit, tax, and advisory, firms that adopt structured, well-managed offshore models will be best positioned for the future.
The next wave of global capability is already here.
The question is how you choose to build it.
Amrit Singh is a business leader with 10+ years of experience in continuing education. Helping accounting, tax, and finance professionals stay compliant with ease, he began his journey as a consultant. Learning across industries before stepping into a leadership role, he is shaped by both successes and failures. Amrit is passionate about problem-solving, building products, exploring technology, and mentoring future leaders. He is dedicated to transform continuing education, making it simpler, smarter, and more meaningful. Through his blogs and talks, he shares insights on accounting careers, CPA compliance, and the future of continuing education.
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Amrit Singh
