Global Capability Centers thrive on innovation, collaboration and an ecosystem that is digitally enabled. It requires new-age skillsets at competitive costs along with a technology platform that seamlessly delivers services to global MNCs. The Asia Pacific Region consider GCC industry as a big opportunity, and India does face competition while attracting new GCCs or R&D centers from regions within APAC and Eastern Europe Regions.
The Growth of Global Capability Centers (GCCs) in India has been encouraging on 2 fronts,
- India has been successful in catering to the boom in new age fields like Machine Learning, Artificial Intelligence, Robotics among others and service the demand globally
- India’s current advantageous position in the IT outsourcing space is getting a boost as gradually the low-cost outsourcing model is being replaced by a more value-added outsourcing model.
The primary driver for the growth of GCC in India is the economy’s rising global competitiveness in critical areas such as availability of large tech talent at a competitive cost, significant improvement in digital infrastructure, a flourishing start-up ecosystem and the rising entrepreneurial spirit.
Growth of GCCs has big implications for the commercial real estate sector. Nearly a quarter of Grade-A office stock across top-8 real estate markets in India is currently occupied by GCCs, and in the near future this demand is expected to be fuelled by more GCCs trying to establish presence across major cities in India.
source : cushmanwakefield