India's Tech Boom: India's Offshore Tech Hubs Near 2030 Milestone in…

Sarah J · 2026-05-19T12:54:40.000Z

India's offshore technology centres generated an estimated $98.4 billion in revenue in fiscal year 2026 - nearly reaching levels that were only projected for 2030 - according to IT industry body Nasscom and consultancy Zinnov. The milestone has been hit roughly four years ahead of schedule, as global firms accelerate their shift of strategic and AI work to India. The numbers $98.4 billion in GCC revenue in FY26 (2030 target was $99B–$105B) 2,117 Global Capability Centres now operating in India 2.36 million professionals employed across GCCs 32% ecosystem growth since FY21 100+ new GCCs added in FY26 alone 506 Forbes Global 2000 companies now have a GCC in India India's overall IT sector on track to surpass $315.4 billion in FY26 What's driving the boom Higher US visa costs, inflation from global conflicts, and AI-led disruption are pushing multinationals to bring critical technology functions in-house rather than outsource them. India's AI-ready workforce, faster-to-scale operating models, and supportive tax policies have accelerated this shift significantly. Beyond back-office India's role has moved well past low-cost support. Companies like JPMorgan Chase, McDonald's, and Nvidia are now using their India GCCs for high-value work including finance, software development, and R&D. Who's expanding North American firms account for two-thirds of new GCC setups. New entrants in FY26 include Anthropic, Eli Lilly, FedEx, Marriott, and Lufthansa. In 2026, BASF, eBay, and Revolut have also announced India expansion plans. AI revenue Nasscom projects AI-specific revenue from Indian services firms at $10–$12 billion in FY26, as enterprise clients move from pilots to full-scale deployments.

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India's Tech Boom: India's Offshore Tech Hubs Near 2030 Milestone in… | SEINET