GCCs’ contribution to India’s economy set to hit 5% by 2030

New Delhi

Global Capability Centres (GCCs) are expected to contribute 5% to India’s GDP by 2030, according to a new report released on Friday.

Previously, the Economic Survey 2024 projected that GCCs would contribute 3.5% to the nation's economy. However, with the rise of multinational companies establishing operations in India and the growing adoption of the 'Digital Twin' strategy, this figure is set to increase. The report, produced by GCC enabler Inductus, highlights that the innovative approach of 'Digital Twin' could further enhance operational efficiency and reduce costs.

The 'Digital Twin' strategy involves creating virtual replicas of GCC operations, which allows for simulations, monitoring, and data analytics. This process incorporates predictive analytics, process automation, and data-driven decision-making to boost efficiency and speed up implementation timelines compared to traditional models.

Alouk Kumar, Founder and CEO of Inductus, emphasized the role of innovation, stating that companies embracing the 'Digital Twin' strategy are setting up offshore configurations that align seamlessly with global headquarters. This enables real-time collaboration and decision-making, regardless of time zones.

The report also noted that the 'Digital Twin' strategy has shown promising results in various sectors, including technology, IT, banking, pharmaceuticals, and retail. Looking forward, trends such as AI advancements, cloud and IoT integration, and sustainability initiatives are expected to further shape the future of GCC operations in India.