GCCs boosting services exports, second only to IT services

Global Capability Centres (GCCs) have significantly boosted the country’s services exports, with the ‘other business services’ emerging as the second-largest contributor to services exports in FY24, accounting for 26%, just behind IT services which led with 48%, according to the Economic Survey.

GCCs have now become vital to India’s economic framework, contributing more than 1% to the country’s GDP.