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Informist, Wednesday, Sept. 17, 2025

 

NEW DELHI – It is important to align national and state-level policies and adapt policy instruments to ensure that each state builds its own unique comparative advantage in developing its global capability centre with the ecosystem broadening and maturing beyond tier-I cities, Finance Minister Nirmala Sitharaman said Wednesday. "...tier-II, tier-III cities are emerging strategic destinations, a shift that is helping diversify economic activity," Sitharaman said at an event.

 

"By working together – Centre, states, industry associations like CII and global companies - we can ensure that India's GCC growth is both broad-based and future-ready," she said while speaking at Confederation of Indian Industry's GCC Business Summit in Vishakhapatnam. "This will not only consolidate India's leadership in the GCC landscape, but also create new opportunities for innovation, job creation and inclusive regional development, eventually contributing to the vision of Viksit Bharat by 2047."

 

In the recent past, the government has intensified its focus on expanding global capability centres in India. In her Budget speech for 2025-26 (Apr-Mar), Sitharaman had announced the formulation of a national framework that will guide states in promoting global capability centres in tier II cities. "This will suggest measures for enhancing availability of talent and infrastructure, building byelaw reforms, and mechanisms for collaboration with industry," she had said.

 

Centre, state policy alignment will lead to the Union government's strategies for global capability centres' growth translate into locally grounded ambitions with measurable targets while maximising growth potential. "State governments are playing a very critical role in deepening GCC advantage and shaping an abling policy environment," she said.

 

The finance minister had in July said that by 2030, the gross value addition from global capability centres could potentially range between $150 billion and $200 billion from the current $68 billion. "Buidling livability and infrastructure ecosystems that allow tier-II and tier-III cities to emerge as centres of excellence is one of the main things that can attract global talent, encourange corporate re-investment and host high-value innovations and service delivery as credible alternatives to tier-I cities," Sitharaman said Wednesday.  End

 

Reported by Priyasmita Dutta

Edited by Deepshikha Bhardwaj

 

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