Synopsis
A recent report forecasts that Global Capability Centres (GCCs) will contribute 5% to India's economy by 2030, significantly higher than the previously estimated 3.5%. This growth is attributed to the implementation of the Digital Twin strategy and the increasing establishment of multinational corporations in India.Key Takeaways
- GCCs projected to contribute 5% to India’s GDP by 2030.
- ‘Digital Twin’ strategy enhances operational efficiency.
- Companies adopting this strategy achieve better collaboration.
- Innovation is key for organizations to thrive.
- Emerging trends include AI, IoT, and sustainability initiatives.
New Delhi, March 28 (NationPress) The Global Capability Centres (GCCs) are anticipated to account for 5 percent of India’s economy by 2030, as detailed in a report published on Friday.
The ‘Economic Survey 2024’ had previously estimated a 3.5 percent contribution to India's GDP from GCCs.
However, with current growth trends and the implementation rates of the 'Digital Twin' strategy, leading GCC enabler Inductus projects this contribution may escalate to 5 percent, driven by the increasing trend of multinational corporations establishing capabilities in the nation.
The report underscored that the integrated 'Digital Twin' strategy has resulted in substantial operational, cost, and efficiency enhancements, thereby boosting India’s GDP.
Furthermore, the integrated ‘Digital Twin’ approach significantly decreases implementation timelines while minimizing operational costs compared to traditional GCC frameworks.
The ‘Digital Twin’ process creates virtual replicas of GCC operations, facilitating the simulation, monitoring, and analysis of processes. This digital methodology employs predictive analytics, process automation, and data-driven decision-making to enhance efficiency.
“In an era of swift technological and process disruptions, top-tier corporations investing in R&D driven by innovation not only survive but prosper.
Innovation is the catalyst that allows organizations to remain relevant, cost-competitive, and prepared for the future in a continuously evolving market.
“Firms adopting the ‘Digital Twin’ strategy are forming mirror-like offshore setups that integrate seamlessly with global headquarters, promoting time-zone-agnostic real-time collaboration and decision-making,” stated Alouk Kumar, Founder and CEO of Inductus.
The ‘Digital Twin’ strategy has yielded remarkable outcomes across various industry sectors such as Tech and IT, BFSI, Pharma and Life Sciences, Engineering and Manufacturing, and Retail and E-commerce.
Looking ahead, the report identified evolving trends in GCC operations, including advancements in AI decision intelligence, scalable cloud and IoT integration, ESG and sustainability initiatives, and industry-specific vertical solutions.
“Organizations employing these integrated strategies are establishing new global benchmarks for GCC operations in India, enabling multinational companies to create efficient, compliant, and future-ready centers with minimized risk and optimal returns,” the report concluded.
