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US companies will transfer critical work to India, giving rise to the rapid expansion of Global Capability Centers (GCCs), industry insiders feel. These GCCs are in-house hubs that manage everything from finance to cutting-edge research and development. India is already home to 1,700 GCCs which is over half the global total. It has evolved past its roots as a tech support provider to become a powerhouse of innovation, handling high-value tasks like designing luxury car dashboards and pharmaceutical drug discovery.

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