By Sai Ishwarbharath B

BENGALURU (Reuters) -Guidewire Software ( GWRE ), a U.S.-based insurance technology provider, plans to double its India headcount to 1,000 by the end of 2028 as it expands its professional services division, a top executive told Reuters.

India's transformation from a low-cost back-office destination to a high-value innovation hub has prompted many multinational firms to establish local operations and ramp up hiring - a trend expected to accelerate in the coming years.

These operations, commonly known as Global Capability Centers (GCCs), support their global parent in daily operations, finance, research and development, and product development functions.

Guidewire's expansion in India would focus primarily on its Bengaluru centre, Chief Product Development Officer Diego Devalle said.

"I foresee that as we pass to 2028, the growth will be bigger on services than on engineering."

Professional services roles at Guidewire involve client-facing work, partnering with firms such as PwC, Capgemini, and Tata Consultancy Services to deploy and implement its software solutions for insurers.

The planned expansion will see India representing nearly a quarter of the company's global workforce.

As of July, the NYSE-listed firm had approximately 3,500 employees worldwide and is on track to reach 500 in India by year-end, across its Bengaluru and Chennai centres.

Of the India workforce, around 400 employees are part of the engineering team, focusing on research and development as well as cloud operations, while the remainder are in professional services.

India's GCC sector is expanding rapidly, with major players such as JPMorgan Chase, Target and Wells Fargo already operating local centres.

GCCs are projected to contribute 2% of India's GDP by 2030, as per ICICI Securities, up from less than 1% currently.