India is emerging as a global leader in the IT sector, contributing significantly to the nation’s economy through the growing demand for software services and digital solutions. This growth has spurred the rapid rise of Global Capability Centers (GCCs) in the country, established by international organisations. These GCCs are driving innovation, enhancing research and development, and generating employment opportunities.
A key player in this IT revolution has been the Software Technology Parks of India (STPI), set up by the Government of India over 30 years ago. Established in 1991, STPI operates under the Ministry of Electronics and Information Technology (MeitY), providing essential infrastructure, regulatory support, and services to IT companies with a focus on boosting software exports.
At the Elets GCC Future Forum & Awards, held on 20th September 2024 in Bengaluru, Rakesh Dubey, Additional Director at STPI, delivered a keynote address emphasising the pivotal role STPI has played in India’s IT and IT-enabled services (ITeS) industry over the last three decades. He highlighted how STPI’s contributions have been instrumental in shaping the industry and shared insights into its ongoing efforts. Dubey also discussed the evolving synergies between Global Capability Centers and STPI units, underlining the organisation’s continued role in driving innovation and fostering collaboration in the future.
STPI’S ROLE IN INDIA’S IT EXPORT GROWTH
STPI has been at the heart of India’s IT revolution. Today, exports from STPI units have reached a staggering 9 lakh crore, which makes up over 50% of the country’s total IT exports. “Three decades ago, this figure was moving up from double-digit to triple-digit crore, highlighting the exponential growth since the inception of STPI,” he said.
The growth we see today shows how far India has come as a global IT powerhouse; much of that success can be credited to the infrastructure, support, and vision provided by STPI. It has played a significant role in helping Indian tech companies—large and small—grow by providing infrastructure, policy support, and incentives. This has enabled IT firms across India to adopt the latest technologies.
WHAT STPI DOES
STPI has always supported technology-driven enterprises and ensured they have the resources to succeed. It operates tech parks across India, offering state-of-the-art facilities, high-speed data connectivity, incubation centres, and everything needed to build a thriving IT ecosystem. Over the years, it has helped startups and IT firms export their services and products globally. These exports have become a big part of India’s economic success, and the numbers continue to grow. By creating an environment where innovation can thrive, STPI has ensured that Indian IT companies can compete globally.
A CLOSER LOOK AT GLOBAL CAPABILITY CENTERS (GCCs)
During his address, Dubey shared some exciting insights about Global Capability Centers (GCCs) and their role in India’s future IT growth. GCCs are specialised units set up by global organisations that handle core IT, R&D, and operations functions. These centres act as hubs of innovation, facilitating digital transformation not only within their parent companies but across industries.
STPI has been studying how GCCs operate in India, particularly in terms of the technologies they are adopting and their impact on exports. Dubey stated that there’s a lot of potential to unlock here. GCCs’ work matches STPI’s goal to promote technological growth and drive exports. By building stronger ties between GCCs and STPI units, India can expand its IT exports further and leverage cutting-edge innovations in the global market.
“STPI is exploring what GCCs are doing now and their future directions to understand potential synergies. Based on this analysis, there is a possibility that specific initiatives may be introduced at the central government level to further promote GCCs in the future,” Dubey stated. This would open up new opportunities for Indian companies to work closely with global players, tap into new markets, and bring more value to the IT export ecosystem.
THE ROAD AHEAD FOR STPI AND GCCs
STPI is not just looking at the past; it is looking forward with a fresh vision for the future. By embracing the growing influence of GCCs and studying their current strategies, STPI is preparing to foster even more growth in India’s tech sector. By collaborating with GCCs, innovations and technological advancements could help India lead the global IT landscape.
Views expressed by Rakesh Dubey, Additional Director, Software Technology Parks of India (STPI)
Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.
"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!
