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Deloitte’s Romal Shetty says: India’s next biggest job creator? GCCs

India hosts 1,800+ GCCs today but could scale up to 5,000 by 2030, unlocking $470–600 billion in economic value and enabling 20–25 million jobs, says Deloitte South Asia CEO Romal Shetty. With 67% of Fortune 500 firms yet to set up GCCs, India has a massive opportunity to lead the $1 trillion services export vision.

Preeti Mondal by Preeti Mondal
Published date: 17th July, 2025
Last edited date: 19th July, 2025
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Deloitte’s Romal Shetty reveals the Future of India’s GCCs
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  • At the CII GCC Summit, Deloitte’s Romal Shetty dropped big news: India’s Global Capability Centres (GCCs) are set to explode, growing nearly 3X in size and unlocking a staggering $600 billion in value.
  • He went on to add that India’s GCCs are going to skyrocket from 1,800 to 5,000. Creating 25 million quality jobs…
  • Romal Shetty’s vision is bold, backed by data and laced with urgency. But ….

GCCs: A massive market still untapped

India may already be home to 1,800+ GCCs, but according to Shetty, the GCC opportunity is far from saturated.

Which companies are yet to enter India’s GCC market?

  • 67% of Fortune 500
  • 77% of Forbes Global 2000

….have “not yet established GCCs” in India, indicating massive untapped potential.

Mid-sized companies are fueling the momentum, too.

“Mid-market firms ($100M–$1B revenue) made up 35% of new GCCs in the last two years.”

These focused, specialised mid-market GCCs are quietly leading the next wave of disruption.

Shetty says the right policies, ecosystem support, and coordination could grow India’s GCCs from 1,800 to 3,400–5,000 in a few years.

But this isn’t just about increasing numbers…

According to Romal Shetty, GCCs are not just processing invoices or running payroll.

“Over 70% of GCCs now focus on digital product development, not just service delivery,” Shetty explained.

They are now building global tools, apps, platforms, and strategy.

GGCs’ Economic impact

India’s GCC ecosystem could contribute $470–600 billion to the economy by 2030, or nearly 3% of India’s GDP, according to Romal Shetty of Deloitte.

GCCs will be a major piece of the country’s $1 trillion services export vision.

GCCs job creation

Currently, GCCs employ 2.16 million people.

By 2030, they could generate 5 million direct jobs and 20 million indirect jobs.

This is the biggest career surge since the BPO era.

Next opportunity?

Currently, 95% of GCCs operate in India’s top 6 metros.

But government-backed policy shifts are unlocking Tier 2 and Tier 3 cities like Jaipur, Kochi, and Indore.

Also read: Uttar Pradesh GCC Policy introduced: Aims to hit its $1 trillion economy!

GCCs aren’t innovating in isolation

Shetty highlighted the role of India’s tech ecosystem:

“1.8 lakh+ startups and 100+ unicorns strengthen the provision of a vibrant innovation pipeline for GCCs to source frontier solutions.”

This synergy between corporate GCCs and agile startups is what’s making India globally competitive.

Calling out the GCC hype

After speaking with several industry insiders, we learned many of these GCCs are nothing more than “glorified offshore delivery centres (ODCs)”

Yes, they built for cost and headcount, not innovation or impact.

“The central C in GCC is supposed to mean Capability, but for many, it only stands for Capacity.”

Also read: KPMG GCC India leader unveils big shifts & billion-dollar opportunities

The real challenge? Lack of Leadership Depth & Direction!

  • Many “GCC leaders” today are ops leaders, not business leaders.
  • They do not own P&L, tech roadmap, Ips or global KPIs.
  • There’s a gap in understanding global macro trends, tech disruption, and true value creation.

Do we see Layoffs at GCCs?

Many believe the“GCCs = jobs = growth.”

Many of these so-called GCCs employing thousands of workers will see a significant portion of their jobs automated sooner rather than later.

Yes, the next wave of layoffs is coming, driven by AI, automation, and overstaffed capacity centres.

Recent layoffs at Wells Fargo’s 400 job cuts in India signal a change.

A Nasscom/Inductus NXT study reports a 10–15% drop in GCC hiring in Q1 2025, especially in BFSI sectors.

Wrapping up…

India’s GCC story is only just beginning.

And if Romal Shetty’s vision plays out, we’re looking at a future of millions of new jobs, global leadership in services exports, and a thriving tech innovation pipeline.

But it demands:

  • Bold leadership with depth
  • Deep upskilling and reskilling (78% of GCCs are investing in GenAI training programs, per Zinnov data)
  • A shift from “capacity centres” to true capability centres

FAQs

What is a Global Capability Centre (GCC)?

A GCC is a strategic offshore hub set up by multinational companies to drive innovation, digital transformation, and business operations beyond traditional outsourcing.

How many GCCs are currently in India?

India is home to over 1,800 GCCs as of 2025, with potential to scale up to 5,000 in the coming years, according to Deloitte’s Romal Shetty.

Preeti Mondal

Preeti Mondal

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