To expand domestic operations, global firms set up global capability centers (GCCs) in India. These try to unlock the full value by stimulating innovation, agility and delivering perceptible impact. Previously, GCCs were built for operational scale and cost efficiency. There is a market shift now, both in size and intent. Currently, GCCs are not limited to delivery. They drive innovation. GCCs are staffed with talent, mature leadership and they receive policy support. These GCCs thus run high-value functions such as product development, engineering and R&D.
In fact, they are treated as strategic extensions of the parent company.
Three sectors are witnessing momentum — private sector (BFSI, health and energy), public sector (government-led digitization) and GCC space.
Companies are struggling with tech debt which impedes business agility. Here incremental approach does not work. What is required is reframing. Some components can be retained in the system, and some will have to be retired.
Talent has to be retained. This cannot be done just by perks or policies. What is required is intent. The kind of environment we sre building matters. To make someone stay, you must create conducive environment. Innovation thrives if the organization has the right culture. People stay when they are aligned with organizational culture. In the context of GCCs, we can say, these can give space to teams to take ownership, drive outcomes and grow continuously.
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