Over the past decade, India has quietly become the operational backbone of some of the world’s largest corporations. The country now hosts more than 1,500 Global Capability Centres (GCCs)—specialised hubs where multinational companies manage everything from software engineering and financial analysis to artificial intelligence research.

Bengaluru sits at the heart of this transformation.

The southern technology capital has long been known as India’s Silicon Valley, but its role is evolving. What once began as outsourcing support centres has matured into high-value innovation hubs.

According to the National Association of Software and Service Companies (NASSCOM), GCCs in India employ nearly two million professionals and generate tens of billions of dollars in annual economic activity.

Companies including Goldman Sachs, Walmart, JPMorgan Chase, Airbus and Bosch operate large centres in Indian cities, particularly Bengaluru, Hyderabad and Pune.

“These centres are no longer just back-office operations,” said Sangeeta Gupta, senior vice-president at NASSCOM. “They are increasingly responsible for product development, digital transformation and advanced research.”

Shift Reflects Logic and Talent Availability

India produces hundreds of thousands of engineering graduates each year, providing companies with a vast pool of skilled workers. Labour costs remain significantly lower than in North America or Europe, but the quality of technical expertise has steadily improved.

At the same time, multinational corporations are seeking to centralise operations and accelerate innovation.

Global capability centres allow companies to bring together diverse functions—from cybersecurity and data analytics to financial planning—under one roof. Many centres now operate around the clock, coordinating with teams across continents.

The growth has also reshaped urban economies.

In Bengaluru, demand from GCC employees has fuelled the expansion of housing markets, commercial real estate and transportation infrastructure. Entire neighbourhoods around tech corridors such as Outer Ring Road and Whitefield have developed to accommodate the growing workforce.

Hyderabad, meanwhile, has emerged as another major GCC hub, attracting companies with lower real estate costs and proactive state government policies.

MNCs largest occupiers of office space in India

Real-estate consultants estimate that multinational firms are among the largest occupiers of office space in India’s technology cities.

The boom shows little sign of slowing.

Industry forecasts suggest the number of GCCs in India could exceed 2,000 within the next five years as companies expand their presence in areas such as artificial intelligence, cloud computing and financial technology.

For India, the implications extend far beyond employment.

“These centres place India at the core of global innovation networks,” Gupta said. “The country is moving from a services economy toward a knowledge and technology powerhouse.”