According to the Economic Survey 2023-2024, India’s attractiveness as a destination for Global Capability Centres (GCCs) has enhanced its software and business services exports.
About Global Capability Centres (GCC):
- GCCs, also known as Global Technology Centers, Global In-house Centers, or Captive Centers, are set up by organizations globally to leverage international talent, resources, and expertise to create substantial value or Intellectual Property (IP).
- These centers, often part of larger corporations, offer a variety of services including R&D, IT services, business process outsourcing, engineering services, finance and accounting, and supply chain management.
- GCCs help companies access diverse skill sets, reduce costs, improve efficiency, and expand their global impact, offering advantages in scalability, flexibility, and the development of cutting-edge technology.
- They are particularly prominent in industries such as IT and Software, AI, Cloud Computing, Data Analytics, and Cybersecurity.
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Frequently Asked Questions (FAQs)
What are Global Capability Centres (GCCs) and why are they set up?
GCCs, also known as Global Technology Centers, help organizations leverage international talent and resources to create substantial value or Intellectual Property (IP).
What services do GCCs offer?
GCCs offer a variety of services including R&D, IT services, business process outsourcing, engineering services, finance and accounting, and supply chain management.
How do GCCs help companies?
GCCs help companies access diverse skill sets, reduce costs, improve efficiency, and expand their global impact, offering advantages in scalability, flexibility, and cutting-edge technology development.
In which industries are GCCs particularly prominent?
GCCs are particularly prominent in industries such as IT and Software, AI, Cloud Computing, Data Analytics, and Cybersecurity.
What has enhanced India’s attractiveness as a destination for GCCs?
India’s attractiveness as a destination for GCCs has been enhanced by its software and business services exports according to the Economic Survey 2023-2024.