India's Tech Hubs Near 2030 Revenue Goal in FY26

Key Report Findings

India’s offshore technology centers are projected to generate $98.4 billion in revenue for fiscal 2026, reaching levels previously anticipated for 2030. A new report from IT industry body Nasscom and consultancy Zinnov highlights this accelerated growth.

Driving Factors for Growth

The expansion is driven by global firms shifting higher-value work, including software development and R&D, to India's Global Capability Centres (GCCs). This move helps multinationals counter rising costs, geopolitical uncertainty, and AI-led disruption. A large AI-ready workforce and supportive policies are key enablers.

Impact on the Tech Sector

This trend marks a significant evolution from low-cost back-office support to strategic, in-house technology development. India is expected to host 2,117 GCCs with a talent base of 2.36 million in fiscal 2026. North American firms continue to lead this expansion, establishing two-thirds of new setups.

Summary and Outlook

The rapid growth of GCCs reinforces India's position as a critical global technology hub. The country's IT sector is on track to surpass $300 billion in revenue by fiscal 2026, with continued investment from major international companies like BASF, eBay, and Revolut.

FAQ

Q: What is the projected revenue for India's tech hubs in FY26?
A: The projected revenue is $98.4 billion, a figure nearly reaching the earlier forecast for 2030.

Q: Why are global companies expanding their GCCs in India?
A: Companies are expanding to access a large AI-ready talent pool, benefit from faster-to-scale operating models, and counter rising costs in other regions.

Source: Investing.com