MNC tech hubs' business in India grows to $28 billion: Report - Times of India

BENGALURU: The market size in India for the MNC tech centre -- also known as global capability centre (GCC) -- touched $28.3 billion in 2018-19, compared to $19.5 billion in 2014-15, says a study by Nasscom and consulting firm Zinnov. That's a compounded annual growth rate (CAGR) of nearly 10% -- faster than that of the IT services sector during this period. India has by far the biggest presence of GCCs in the world (the segment's size has been estimated by multiplying the number of employees with the average cost of the employee). GCCs now employ more than 1 million people -- up from 7.5 lakh in 2014-15. They account for a quarter of the total workforce in the country's tech sector.