India emerging as global hub for GCCs, says Finance Minister

India is becoming a global leader in Global Capability Centres (GCCs), Union Finance Minister Nirmala Sitharaman said at the CII-GCC Business Summit in Visakhapatnam. She highlighted that the country hosts 50% of all global GCCs and that more than half of professionals in GCCs abroad are of Indian origin, giving the sector a unique “Indian flavour.”

Sitharaman outlined the government’s “policy-led leadership” approach to support GCCs, focusing on three key areas: infrastructure, education and skilling, and governance reforms.

On infrastructure, she noted capital investment has grown from 1.7% of GDP in 2013-14 to 4.1% in 2024-25, leading to 88 new airports, 31,000 km of rail tracks, and a 60% expansion of the national highway network. The Centre has also provided ₹3.6 lakh crore in 50-year interest-free loans to states to boost capital asset creation.

For education and skilling, Sitharaman cited initiatives such as the PM Kaushal Vikas Yojana, which has trained over 1.6 crore people, and the PM Internship Scheme linking youth with jobs. She also announced the ₹1 lakh crore Research, Development and Innovation (RDI) Scheme and the Pradhan Mantri Vikasad Bharat Rojgar Yojana, offering Rs 15,000 incentives for first-time private sector employees.

Governance reforms include simplified company incorporation (Spice Plus), accelerated corporate exits (C-PACE), removal of over 42,000 compliances and 1,500 outdated laws, and next-generation GST reforms for the tech industry.

Sitharaman praised Andhra Pradesh for attracting a Google data center and establishing quantum and space research facilities, showing how state initiatives can align with national priorities. She concluded that these measures will strengthen India’s GCC leadership, boost innovation, create jobs, and support the vision of Vikasit Bharat 2047.