Global Capability Centres (GCCs) In India Evolve Into Innovation Hubs, Leaders Say At WEF Meeting

Leaders at the World Economic Forum Annual Meeting on Wednesday highlighted the transformation of global capability centres (GCCs) in India, noting how they have evolved from cost-saving hubs to global innovation powerhouses.

Speaking at a breakfast session hosted by the Confederation of Indian Industry (CII), the leaders emphasized the need to focus on upskilling India’s talent pool to keep pace with rapid technological advancements.

D Sridhar Babu, Telangana’s Minister for IT, Electronics & Communications, and Industries & Commerce stated, “The Government of Telangana is working to put young Indians in Skills’ University for training, coaching and tutoring that is required to upskill and reskill employees as well as people who would like to know about new technologies.”

He added that this has already begun and is entirely industry-driven, with the government serving only as a facilitator.

Highlighting the importance of staying ahead in technological advancements, D Sridhar Babu asserted, “As the world is witnessing the next wave of revolution right now in terms of technology, India should be proud of the talent that we have, and we need to focus on how we move this talent to the next level.”

India’s Role In Innovation & Technology

“We have upscaled our talent to the next level and have become centres of innovation, and accelerators. Today, almost every state in India is in the drive for new technologies, operating technologies or developing centres of excellence. The Government of India over a period of 2-3 decades has introduced initiatives like Make in India and Digital India which have provided a big platform for each and every state to further move forward,” he further noted.

Nadir Godrej, Chairman and MD of Godrej Industries remarked, “India is strong in ESG and there is much progress in green energy. The strong startup ecology of the nation is an opportunity for collaboration. Academia, government and industry can collaborate on new technology. If all of us go to full length, GCCs will go from strength to strength.”

GCCs As Engines Of Growth

PwC India Chairperson Sanjeev Krishan said, “GCCs in India emerged because of cost arbitrage but it is no longer the case now. Moreover, significant efforts made to ensure inclusivity and holistic growth, aiming to spread GCCs across the country.

Girish P Ramachandran, President of Growth Markets at Tata Consultancy Services, noted, “Countries across the globe can collaborate with India and India’s skill development initiatives like the Skill India Mission and partner with Indian academic institution.”

He added that GCCs no longer restrict themselves to tier-one cities, with talent now spread across the entire country. India’s leadership and digital transformation make it an ideal destination for investment.

“So, as we continue to grow, innovate and lead, India’s GCCs will remain central to driving our global progress,” Girish P Ramachandran further asserted.

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