Part 2/12:
Ragu, a seasoned representative in the session, emphasized that the traditional role of GCCs—primarily centered on operational efficiency—has evolved dramatically over the past 25 years. What was once a "do less" support function is now actively shaping strategic innovation.
He recounted the pivotal years starting with the Y2K problem, which brought India onto the global IT map. Companies realized that India could deliver large-scale software projects, leading to the establishment of BPOs and cost arbitrage-driven call centers. Over time, these GCCs expanded their scope far beyond rudimentary support, now engaging in complex analytics, fraud detection, risk management, and even R&D activities, especially in the financial services sector.