The country currently has more than 1,580 CCGs employing 1.66 million people, as businesses navigate the complexities of the current business environment.
In the next two years, GCCs could move up to 1,900 centers in India, employing 2 million people with revenues of between $60 billion and $80 billion, according to Deloitte India's report ahead of the next budget.
"Mature technology ecosystem, talent and cost advantage and politically stable environment amidst global uncertainty are the main factors making India a successful global GCC leader and a preferred location," said Gaurav Gupta, Partner and Deloitte India GCC Industry Leader.
However, GCCs need support in infrastructure development, greater investment in skills development, consistent tax policies and an ecosystem that encourages innovation to reach their full potential.
The report mentions that the current direct tax policy landscape in India is constantly evolving, driven by the government's efforts to reform existing systems and processes, with a focus on improving efficiency and transparency.
"Important measures such as reduction in corporate tax rates, introduction of concessional tax regimes and removal of minimum alternative tax regime have been taken to attract investments and foster a business-friendly tax climate," Gupta said.
The Indian government has also adopted several globally accepted best practices to provide confidence to foreign investors and prevent disputes.
"Safe harbor rules, an advanced pricing regime, an effective MAP program and the adoption of the sixth method for transfer pricing analysis are some examples," the report mentions.
The digital talent pool in India with expertise in the areas of cloud computing, artificial intelligence, big data and Internet of Things (IoT) has grown at a CAGR of over 35 per cent in the last four years.
The talent pool is expected to reach 2.6 million by 2024, according to the report.
In the next two years, GCCs could move up to 1,900 centers in India, employing 2 million people with revenues of between $60 billion and $80 billion, according to Deloitte India's report ahead of the next budget.
"Mature technology ecosystem, talent and cost advantage and politically stable environment amidst global uncertainty are the main factors making India a successful global GCC leader and a preferred location," said Gaurav Gupta, Partner and Deloitte India GCC Industry Leader.
However, GCCs need support in infrastructure development, greater investment in skills development, consistent tax policies and an ecosystem that encourages innovation to reach their full potential.
The report mentions that the current direct tax policy landscape in India is constantly evolving, driven by the government's efforts to reform existing systems and processes, with a focus on improving efficiency and transparency.
"Important measures such as reduction in corporate tax rates, introduction of concessional tax regimes and removal of minimum alternative tax regime have been taken to attract investments and foster a business-friendly tax climate," Gupta said.
The Indian government has also adopted several globally accepted best practices to provide confidence to foreign investors and prevent disputes.
"Safe harbor rules, an advanced pricing regime, an effective MAP program and the adoption of the sixth method for transfer pricing analysis are some examples," the report mentions.
The digital talent pool in India with expertise in the areas of cloud computing, artificial intelligence, big data and Internet of Things (IoT) has grown at a CAGR of over 35 per cent in the last four years.
The talent pool is expected to reach 2.6 million by 2024, according to the report.
