- The GCC market is expected to reach $100 billion soon.
- It is estimated to expand to 2,500 centres.
India is emerging as a hub for Global Capability Centres (GCCs) in the pharmaceutical sector. International pharma giants are focusing primarily on setting up GCCs in India. Despite economic challenges faced by several countries worldwide, India’s economy remains stable, and with strong consumer demand, global companies are increasingly looking towards India. According to an Ernst & Young report, the Indian GCC market is expected to surpass the $100 billion mark soon, with over 2,500 centres and more than 4.5 million skilled professionals driving this growth.
In the Life Sciences and Healthcare (LSHC) segment, there are expected to be 100 centres by 2024, and this number is projected to increase to 160 by 2030, with employment reaching 4,20,000. The availability of technology experts in India is proving attractive to global companies, while the country’s growing startup ecosystem is also seen as a positive factor for the establishment of GCCs. Industry sources highlight that recruitment in the GCCs of major companies is substantial, driven by factors such as rising demand and strategic importance. As a result, pharmaceutical giants are ramping up recruitment in their Indian hubs.
