GCCs & IT services: Can collaboration amid global headwinds avert a crisis?

Global corporations, including JP Morgan, Fidelity International, Barclays Bank, Lowe's, Lufthansa, McDonald's, and Cargill, are expanding their delivery centres in India

The growth story of India’s $283 billion information-technology (IT) services industry has been interrupted — not just by new technology like artificial intelligence (AI), but also by a combination of factors, from costlier visas to higher tariffs.

 

For decades, the sector, home to 5.8 million workers, was defined by big outsourcing firms — such as Tata Consultancy Services (TCS), Infosys, Wipro, HCLTech, Cognizant, Tech Mahindra — and mid-tier firms like Mphasis, Hexaware Technologies, and LTIMindtree. In recent years, though, another force has quietly redrawn the map — the rise of global capability centres (GCCs), the in-house, captive hubs of multinationals.