India has come a long way from being the world's preferred business process outsourcing (BPO) destination, about three decades ago, to a thriving Global Capability Centre (GCC) sector now. From back-office functions to ideation and innovation, India currently boasts of about 2,000 GCCs. More than half of the world's GCCs are in India, with a potential to scale up to $80 billion over the next five to seven years.
The government’s push to 'Make in India' and the rapid digitalisation of processes and businesses, have accelerated India’s rise as the world’s GCC capital. The evolution is already evident in the maturing focus areas for GCCs as more than 50 percent of the GCCs in India today operate as technology centres of expertise of some form.
According to the latest demand market ER&D pulse survey conducted by Deloitte and NASSCOM, 43 percent of the global leadership stated that one of their immediate priorities is to globalize their R&D footprint through in-house centres (GCCs) or service providers – majority of which happen to be based out of India.
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