Tesco to Victoria's Secret: India's booming back-offices worry about rising trade barriers

Tesco and other multinational companies are expanding their back-office operations in India, leveraging the country's Global Capability Centers (GCCs) where tasks ranging from IT to finance, AI, and design are managed. With over 1,700 multinationals operating in India's GCCs, employing two million people and generating $65bn in annual revenue, the sector is booming. However, rising global trade barriers pose a potential challenge to this growth, despite India's abundance of skilled talent and competitive advantages in AI and digital expertise. The industry is expected to reach $100bn by 2030, driven by factors including a tech-savvy workforce, supportive government policies, and the emergence of GCCs in tier-II towns offering cost-effective talent and real estate options.