Two sectors that rose on India's business horizon in 2024
India is well on its way to become the world’s third largest economy in the next five years, the World Economic Forum said in a report earlier this year.
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This growth, while driven by traditionally thriving sectors that include manufacturing, information technology and banking, is now being boosted by emerging sectors that are projected to grow further in 2025.
According to a report by Foundit, emerging tech and evolving business sectors will shape India’s economy in the next financial year. To name a few, edge computing, quantum applications and cybersecurity advancements are some of these technologies.
Two such sectors that have emerged with prominent potential this year are global capabiliity centres (GCCs) and data centres. In the year 2024, GCCs and data centres assumed a lot of importance in India's business sector while also entering the business lexicon of the common Indan.
What are GCCs?
GCCs are operational hubs set up by multinational corporations to manage and streamline various business functions such as technology, operations, research and development (R&D), and product engineering.
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