Beena Parmar

Foreign companies are not the only ones setting up global capability centres (GCCs) in India to provide centralised support to their businesses. Large Indian corporations are also building such facilities, often to beef up their technology capabilities.

The New Delhi-headquartered firm, currently generating $150 million in revenue, expects the US and Europe regions to drive long-term growth.

After a period of declining headcount, India's leading IT firms have reversed the trend, collectively hiring over 17,500 employees in the September quarter. This surge in hiring comes amid a recovery in demand and increased deal wins.

In the second quarter ending September of the ongoing fiscal year 2025, LTIMindtree closed several multi-year projects including a $200 million-plus deal from a US-based manufacturer. The total order intake for the three-month period was flat year-on-year at $1.3 billion, down 7% from previous quarter.

Revenue from the Healthcare and Life Sciences vertical is a little below $100 million per quarter. Sandeep Kalra, chief executive at Persistent Systems, said to ET, that Healthcare and Life Sciences vertical is growing at 71% on-year and “thats a dream come true”. The verticals contribution to the companys total revenue has grown by 8% in the last four quarters. Healthcares contribution to the firms revenue grew from 19.3% in Q2 FY24 to 27.8% in Q2 FY25.

Indian IT giants like Infosys, HCLTech, and Wipro are partnering with MNCs to work with their local GCCs, helping them offset revenue losses and increase their share of revenue from the domestic market. This trend is helping Indian IT companies diversify their revenue streams amid weakening demand from their core markets in the US and Europe.

Top IT giants Tata Consultancy Services (TCS), Infosys, and HCLTech reported softness in the automotive sector, particularly in Europe, during Q2. This was attributed to ongoing supply chain challenges and regulatory shifts.

India will surpass the US to become the worlds largest developer community by 2028, from earlier forecast of 2027.

Global corporations spanning quick service restaurant (QSR) chains, airlines, hospitality and agriculture are now establishing support service centres in India, stoking a new wave of expansion among buzzing global capability centres (GCC).

Among those setting up base are QSR companies such as Yum Brands and Starbucks, media and entertainment firms Warner Bros and Discovery, as well as hotels chain Marriott International, energy giant Chevron and smaller firms such as US K-12 education software and content provider Curriculum Associates.