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New Delhi: The growth in India’s global capability centres (GCCs) is led by high-end engineering and research & development related activities as the global businesses don’t see it as just a low-cost arbitrage centre, a senior official in the Ministry of Electronics and IT said on Friday.
“Engineering research and development related GCCs are having a growth which is 30% more than the overall growth of GCC. It shows that the work, which is coming to India, is of higher value,” Bramhanand Jha, Vice President, National e-Governance Division at the Ministry of Electronics and IT.
He said the revenue of India’s GCCs is estimated to jump to $100 billion by 2030 from around $64 billion recorded in the FY24.
"GCCs are no longer low-cost arbitrage centres. They are becoming strategic innovation hubs for value for global business. With the economy shifting towards a digital-first economy, GCCs are leading the way in developing agile, technology-enabled, and future-proof organizations,” Jha said at an event organised by the Indian Institute of Management (IIM) Sambalpur.
Underlining the concentration of GCCs in a few cities like Bengaluru, Hyderabad, Pune and Chennai, Jha said the government is making efforts to expand GCCs in tier 2 and 3 cities.
“At MeitY, we are committed to developing an ecosystem in which the academia, industry, and governance collaborate to drive sustainable innovation, transformation, and digital leadership,” he added.
Speaking at the event, IIM Sambalpur Director Mahadeo Jaiswal said high-quality talent pool is the key driver of India’s GCC growth.
He said IIM Sambalpur has introduced two new undergraduate programmes - Bachelor of Science in Data Science and Artificial Intelligence and Bachelor of Science in Management and Public Policy.
The Bachelor of Science in Data Science and Artificial Intelligence is focused towards developing India's digital capability and global competitiveness, Jaiswal said.