India emerges as global hub of Global Capability Centers for life sciences: Report
New Delhi: India has firmly established itself as a global hub of Global Capability Centers (GCCs) for life sciences, with 23 of the world’s top 50 life sciences companies setting up establishing centres in the country, according to a report released Monday by advisory firm EY India.
The report highlights that a majority of the companies established their presence in the Indian market within the past five years. This underscores the country’s rapidly growing role in pharmaceutical research, innovation, and value creation.
“Our analysis highlights how India has rapidly evolved from a support base to the very center of innovation for global pharma and healthcare. In just five years, GCC penetration in enabling functions like finance, HR, supply chain, and IT has crossed about 60 per cent,” said Arindam Sen, Partner and GCC Sector Lead – Technology, Media & Entertainment and Telecommunications, EY India.
Notably, the life sciences GCCs have rapidly evolved from traditional back-office roles into strategic innovation engines, reported IANS.
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