EPAM and GCCs in India: Driving Mutual Growth and Development through Modern Engineering

The growth of global capability centers (GCCs) in India is creating a significant shift in the Indian technology ecosystem. According to a report titled ‘GCC 4.0 | India Redefining the Globalization Blueprint’ by Nasscom, IT services from the GCC ecosystem are growing due to increasing demand for application modernization, cloud migration, platform development, cybersecurity and more. According to another report by HSBC Global Research, the overall share of GCCs in India's IT services exports rose to 23% in 2023 from 18% in 2015. As these centers evolve, they will continue to rely on IT services to move up the value chain, enhancing their capabilities and delivering higher value to their parent organizations.

GCCs are increasingly contributing towards building India's Engineering Research & Development (ER&D) capabilities. As GCCs drive market growth through strategic deals, digitalization and cloud adoption, they have also expanded IT services by meeting the demand for modernization and reformed business process management (BPM) into an advanced, data-driven vertical. Today, these centers hold critical capabilities across verticals like banking, financial services and insurance (BFSI), software and internet, telecom and networking, automotive, transportation and construction, pharmaceuticals and many more. Overall, GCCs are central to the ongoing development of India's ER&D sector, particularly in talent and operational growth.

Modern engineering lies at the nexus of this growth and plays a crucial role in enabling the right mix of speed and scale for GCCs. Speaking with ET, Srinivas Reddy, Managing Director at EPAM India, said, “To drive the growth of GCCs, IT companies need to focus on modern engineering and scalable solutions that meet evolving business needs. Committing to advanced engineering practices and training talent is the key to the continued success of these centers. As GCCs in India expand their capabilities, IT firms need to support both transformation and in-center innovation.”

Reddy also noted, “IT service companies based out of India need to focus on productivity and performance in their development support. They should aim to become major product development contributors on a global scale."

Elaina Shekhter, Chief Marketing & Strategy Officer, SVP at EPAM, said, “The growing partnership between GCCs and IT companies in India is part of a larger industry trend. As GCCs become more prominent, IT firms are stepping up to support and collaborate with them, driving mutual growth and development. Additionally, there is an ongoing shift where Indian tech leaders are at the forefront, directly leading operations for these centers and turning them into major hubs for growth and innovation.”

With extensive experience in AI integration into the software development life cycle (SDLC), IT service partners like EPAM have an advantage in this space. The results of EPAM’s AI-driven efforts in SDLC have translated into an improvement of 30% or greater in productivity and acceleration in product strategy and design. Additionally, EPAM makes the value proposition of GenAI real with its range of AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively.

Original article here.