GCCs Drive India’s Growth as Global Hub for Talent and Innovation

A high-level conference in Mumbai has charted a new path for India’s economic future. The Prin. L. N. Welingkar Institute of Management Development & Research (WeSchool) hosted a Round Table on the role of Global Capability Centres (GCCs). The event focused on how academia and industry can collaborate to achieve the Viksit Bharat 2047 vision.

This gathering united top policymakers, industry leaders, and academic experts. Their goal was to solidify India’s position as the “GCC Capital of the World.”

Maharashtra’s New Policy Boosts GCC Ecosystem

The state government is pushing hard to attract global investment. Kaustubh Dhavse, Special Advisor to the Chief Minister, confirmed a new GCC policy was just passed by the cabinet. This policy includes capital subsidies, salary support, and initiatives to promote gender balance.

Maharashtra aims to be the top destination for global talent. The state’s structured approach focuses on ease of doing business. This creates a vibrant ecosystem for GCCs to thrive and transform business operations in India.

Academia’s Crucial Role in Building Future Talent

Experts agree that educational institutions must adapt. Yogesh Brahmankar from the Government of India’s Innovation Cell emphasized preparing future-ready human capital. He said fostering an entrepreneurial mindset is just as important as teaching technical skills.

Collaboration is the key to success. Industry and academia must work together on research projects and faculty programs. This bridges the gap between classroom learning and real-world business challenges.

Prof. Dr. Uday Salunkhe of WeSchool reinforced this commitment. The institute is ready to co-create solutions with GCCs. This partnership will develop leaders capable of driving India’s growth story forward.

The conference concluded with a concrete action roadmap. This collaboration between GCCs, academia, and government is set to accelerate India’s growth. It firmly positions the nation as a global hub for talent and innovation.

Thought you’d like to know

What is a Global Capability Centre (GCC)?

A GCC is a dedicated center for a multinational company. It handles strategic operations like IT, analytics, and business processes. These centers are key drivers of India’s services sector growth.

How do GCCs benefit India’s economy?

They create high-skilled jobs and bring in foreign investment. GCCs also help develop local talent in advanced technologies. This boosts India’s position in the global knowledge economy.

What is the Viksit Bharat 2047 vision?

It is a national initiative to make India a developed nation by 2047. The vision focuses on sustainable growth and economic development. It involves collaboration between all sectors of society.

Which skills are most needed for GCCs?

GCCs need talent in artificial intelligence, cloud computing, and cybersecurity. They also value problem-solving and an innovative mindset. These skills are crucial for driving future growth.

Why are Tier-2 cities important for GCCs?

Expanding to Tier-2 cities helps tap into a wider talent pool. It also supports more balanced regional development across India. This decentralizes growth and creates opportunities nationwide.