New Delhi, Oct. 28 -- Most people still judge a GCC by its seats and its square feet. That tells you what it costs, not what it is worth. Here is what to look at instead.

Some of the most valuable work done in India never shows up in India's numbers.

A patent drafted in Bengaluru may be filed through a parent company in the United States or Europe. A product built in Pune can ship under a global brand. Neither leaves a trace in a lease or a headcount report. Executives told Reuters this is why the output of India's capability centres is understated.

It points to a quiet flaw in how the sector is judged. Jobs and square feet are easy to count, which is partly why they stuck. They are also inputs. For years, nearly everyone has measured ...