Background

Global capability Centres (“GCCs”) have taken centre stage today because of their contribution towards the growth and expansion of multi-national corporations (“MNCs”) and towards boosting the economic growth of many developing countries in which they are located.[1] These centres are set up to primarily take on a service role for the global group of the MNCs. Evolving from back offices and cost-arbitrage centres, GCCS have transformed into potential alternative technological and strategic development headquarters. Today, many regions in developing economies, including in India, have started competing to establish themselves as a GCC hub and emerge as a “destination of choice”. Given the transformative role GCCs play in job creation, technology advancement, and skill enhancement, and positioning India at the forefront of innovation and service delivery, many GCCs in India are vying for that spot. With an estimated 1,700 GCCs engaging 1.66 million employees to generate an annual revenue of USD 64.6 billion, India qualifies as a “tried-and-tested” GCC-friendly ecosystem. In the backdrop of India’s “techade”, the market size of the country’s GCC ecosystem is projected to surpass USD 100 billion, which could propel India to achieve its ambition of becoming a USD 1-trillion economy.Continue Reading Competing to be the global ‘destination of choice’ for GCCs: Karnataka attempts to set the global standard with a first-of-its-kind GCC-centric policy