New Delhi, March 28
The global capability centres (GCCs) are projected to contribute 5 per cent to India's economy by 2030, according to a report released on Friday.
The 'Economic Survey 2024' had projected a 3.5 per cent contribution to India's GDP from GCCs.
However, based on current growth trajectories and 'Digital Twin' implementation rates, leading GCC enabler Inductus estimates this contribution could reach up to 5 per cent, given the fast-growing trend of multinational companies setting up capabilities in the country.
The report highlighted that the integrated 'Digital Twin' strategy has delivered significant operational, cost, and efficiency improvements and has also contributed in India's GDP.
The integrated 'Digital Twin' approach significantly reduces implementation timelines while cutting operational costs compared to traditional GCC models.
The 'Digital Twin' process constructs virtual replicas of GCC operations, enabling simulation, monitoring, and analytics of processes. The digital approach applies predictive analytics, process automation, and data-driven decision-making to propel efficiency.
"In a world of rapid tech and process disruptions, world-class corporations investing in R&D driven by innovation not only survive but thrive.
Innovation is the force that helps organisations stay relevant, cost-competitive, and future-fit in an evolving marketplace.
"Companies implementing 'Digital Twin' strategy are creating mirror-like offshore configurations that synchronise seamlessly with global headquarters, enabling time-zone-agnostic real-time collaboration and decision-making," said Alouk Kumar, Founder and CEO of Inductus.
The 'Digital Twin' strategy has delivered exceptional results across diverse industry sectors like Tech and IT, BFSI, Pharma and Life Sciences, Engineering and Manufacturing and Retail and E-commerce.
Looking ahead, the report identified emerging trends in GCC operations including AI decision intelligence advancements, scalable cloud and IoT integration, ESG and sustainability initiatives, and industry-specific vertical solutions.
"Organisations implementing these integrated approaches are establishing new global benchmarks for GCC operations in India, enabling multinational firms to develop efficient, compliant, and future-ready centers with minimum risk and optimal returns," the report noted.
— IANS
Reader Comments
This is fantastic news for India's economy! The Digital Twin strategy sounds revolutionary - no wonder GCCs are growing so fast. Can't wait to see how this impacts job creation in tech hubs like Bangalore and Hyderabad. 🇮🇳
While the growth projections are impressive, I hope companies focus equally on employee welfare. Many GCCs still have long working hours and high stress environments. The tech should improve lives, not just profits.
Worked in a GCC for 3 years - the Digital Twin approach has completely transformed how we collaborate with global teams. No more waiting 12 hours for approvals! The efficiency gains are real.
Interesting read! Does anyone know if this growth will extend beyond metro cities? Tier 2 cities could really benefit from distributed GCC models with remote work capabilities.
The article mentions ESG initiatives - this is crucial. Hope GCCs lead by example in sustainable operations. Our office just went solar powered last month! 🌞
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.