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Informist, Thursday, Jul. 9, 2026

 

--Sitharaman: Next phase of global capability centres needs enabling policy

--CONTEXT: Finance Minister Sitharaman speaking at CII GCC Business Summit
--Sitharaman: Global capability centre growth needs frictionless ecosystem

 

NEW DELHI – The government recognises that the next phase of growth of global capability centres in India needs an enabling policy ecosystem that reduces friction, improves certainty, and supports long-term investment, Finance Minister Nirmala Sitharaman said Thursday. However, the ambition of building an ecosystem capable of supporting around 5,000 global capability centres by 2030 is both realistic and achievable, she said at the GCC Business Summit hosted by the Confederation of Indian Industry here.

 

At present, India hosts more than 2,100 global capability centres, employing 2.3 million professionals and generating almost $100 billion in annual revenues, according to the finance minister. "(I am) recognising that India's next phase of GCC growth requires institutional rather than incremental change," she said.

 

The next phase of growth of global capability centres presents significant opportunities in newer geographies, including East and West Asia, Eastern Europe, the Nordic countries, and Australasia, she said. "As India's GCC ecosystem evolves, the government will continue working closely with industry to identify emerging challenges, refine our policy framework, and ensure that India remains the world's most competitive destination for global capability centres," Sitharaman said.

 

The finance minister further said ambition for the next decade for enterprises should be to maximise innovation, accelerate discovery, and strengthen long-term competitiveness. "The real question now is whether India can become the country from which global enterprises create their most valuable capabilities, design their next generation of products, develop frontier technologies, and shape enterprise strategy itself," she said. 

 

Sitharaman placed multiple tasks before the industry for the next phase of growth of global capability centres. She urged the industry to continue moving decisively up the value chain, deepen engagement with India's knowledge institutions, and expand confidently into emerging cities.

 

"Tier-2 and Tier-3 cities are rapidly developing the talent, infrastructure, and innovation capacity required for globally competitive enterprises," she said. "In many emerging cities, the transformative economic impact that GCCs can have is still not widely understood." 

 

She also urged the industry to engage proactively with state governments, city administrations, educational institutions, and local communities to build awareness and help prepare for the next wave of global capability investment.  End

 

US$1 = INR 95.38

 

Reported by Pratiksha

Edited by Rajeev Pai

 

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