Global capability centres (GCC) have been mushrooming in India over the past few years, with over 1,580 GCCs and an installed talent base of over 1.66 million currently. A new report by IT industry apex body Nasscom and Zinnov found that in the fourth quarter of calendar year 2023, India saw 10 new GCCs established, marking the entry of key MNCs like Edge Cortix, M31 technology Corporation, Signature IP into the Indian market. US-headquartered MNCs accounted for around 50% of the new GCCs.