India's Evolution into a Hub for Global Innovation

India's Global Capability Centres (GCCs) have evolved from cost-effective operations to innovation hubs. Leaders at the World Economic Forum highlight India's focus on upskilling talent and technological advancement. Government and industry initiatives, like 'Skill India Mission', emphasize collaboration and transformation in technology and digital fields.

India's Global Capability Centres, once seen primarily as centres of cost efficiency, are now recognized as major hubs for innovation, according to Indian leaders speaking at the World Economic Forum.

In a session hosted by the Confederation of Indian Industry, officials stressed the importance of upskilling the nation's workforce to stay ahead in the technology sector. Telangana's IT Minister, D Sridhar Babu, emphasized the state's efforts to partner with industrial initiatives for skill development.

Prominent figures such as Godrej Industries' Nadir Godrej and PwC India's Sanjeev Krishan, pointed to India's ESG strengths and an inclusive growth model. They highlighted the country's shift from cost-centric strategies to comprehensive, collaborative approaches in technology and innovation.

(With inputs from agencies.)