Why GCCs are India’s New Powerhouses of Growth

IN THE RACE FOR a competitive edge, talent outruns capital or infrastructure as the defining factor for success in any services-based industry. While the Covid-19 pandemic tested the ability as well as the agility of global organisations to get work done remotely, technology helped them to emerge victorious. This may have a direct correlation to the phenomenon seen in India over the past five years: global companies have hit the accelerator in setting up global capability centres (GCCs) in the country. Wooed by the vibrant local talent base, nearly a third of the global Fortune 500 companies have set up GCCs in India.