The globalization of financial and technological services in India is growing rapidly. In this context, Gujarat International Finance Tec-City Company Limited (GIFTCL) recently signed an important Memorandum of Understanding (MoU) with ANSR Global Corporation Private Limited (ANSR). This agreement has been signed with the specific objective of promoting the establishment and development of Global Capability Centers (GCCs) in GIFT City.This initiative is considered a significant part of India’s national strategy to accelerate global services and financial innovation.

The MoU aims to facilitate the development of next-generation GCCs by leveraging GIFT City’s infrastructure, regulatory framework, and talent base.The collaboration will focus on attracting GCCs engaged in technology development, digital transformation, and enterprise innovation.

Global Capability Centres (GCCs)

¨     GCCs are strategic, wholly-owned offshore units established by multinational corporations (MNCs) to centralize and manage various business functions.

¨     GCCs were originally set up in cost-effective locations to handle back-office functions and reduce operational costs. Today, GCCs are strategic assets that serve as innovation hubs and centres of excellence.

¨     GCCs are focused on high-value activities like R&D, engineering, product development, and complex business processes.

¨     They leverage advanced technologies like AI, machine learning, and cloud computing to enhance capabilities and drive innovation.

¨     India and GCCs:

¨     India is home to over 1,700 GCCs, employing 1.9 million professionals and generating $64.6 billion in revenue as of 2024.

¨     Key GCC hubs are located in Bengaluru, Hyderabad, Pune, Chennai, Mumbai, and the National Capital Region (NCR).

¨     The sector is projected to expand to $105 billion by 2030, with around 2,400 GCCs employing over 2.8 million people, solidifying India’s role as a global hub for enterprise operations and innovation.

¨     With 40% of digital transformation projects in GCCs, India is now a centre for high-value technology-driven solutions.

Key Benefits of the MoU

¨     Positioning GIFT City as a Global GCC Hub: The collaboration aims to establish GIFT City as the preferred location for multinational companies seeking efficient, innovative, and globally competitive environments for their capability centres.

¨     Boost to Investment and High-Value Growth: It is designed to attract international investment, create high-skill jobs, and strengthen technology-driven enterprise growth in India.

¨     Building a Future-Ready GCC Ecosystem: Through integrated research, thought leadership, and skill development, the partnership will support a sustainable, future-ready GCC ecosystem with lower attrition and faster setup timelines.

¨     Access to Global Talent: Establishing GCCs in GIFT City will allow multinational firms to access India’s vast pool of highly skilled digital, analytics, engineering, and automation professionals, enabling rapid scaling and innovation.

¨     Greater Operational Control: Unlike outsourcing, GCCs allow parent organizations direct control over business processes, intellectual property, compliance, and risk management, ensuring alignment with overall strategy.