According to a recent report by Nasscom-Zinnov, India’s Global Capability Centers (GCCs) are expected to see significant growth by 2024. The report predicts that there will be 1,700 GCCs in India, generating $64.6 billion in export revenue and employing over 1.9 million people. Notably, the healthcare and life sciences sectors will account for over 15% of these employees.
In the healthcare industry, Indian GCCs are leading the way in drug discovery and development by utilizing computational chemistry, bioinformatics, and AI-driven platforms. These centres are accelerating the research and development of new drugs and bringing them to market faster than ever before. By integrating advanced analytics and data-driven insights, Indian GCCs are making significant contributions to global healthcare innovation and improving patient outcomes on a larger scale.
In an exclusive interview with Balasubramanian Sankaranarayanan, CEO and President of Thryve Digital LLP, he shared that their focus in healthcare GCCs is to find individuals with deep expertise in the industry and provide them with opportunities to take on larger career roles. Thryve Digital Health, headquartered in Chennai, creates solutions that enable the “payvider” network with the intelligence, connectivity, and seamless integration required by its multi-platform healthcare systems.
Sankaranarayanan also highlighted the importance of building GCCs with a workforce that not only understands the healthcare domain but also grasps the business, technical, and customer challenges. The Indian government aims to have 2,400-2,500 GCCs operating nationwide by 2030, with a workforce of over 4.5 million people. However, in today’s cost-constrained economy, businesses are under pressure to extract more value. This is where GCCs can play a crucial role in optimizing and improving efficiency.
According to Sankaranarayanan, setting up a GCC in countries like India can result in an immediate 20% cost differential compared to working with service providers. These savings can be reinvested into the enterprise, as GCCs are not focused on generating margins but on optimizing operations. As companies continue to reimagine the future, GCCs will play a vital role in driving innovation and cost-efficiency in the healthcare industry.
