India Hosts Half of Global Capacity Centres: Nirmala
Nirmala said capital investment has increased from 1.7 per cent of GDP in 2013-14 to 4.1 per cent in 2024-25, which has facilitated the construction of 88 new airports, the laying of 31,000km of rail tracks and a 60 per cent expansion of the national highway network.
Visakhapatnam: Union Finance Minister Nirmala Sitharaman on Wednesday highlighted the central government’s efforts to position India as a world leader in Global Capability Centres (GCCs).
India, she said, currently hosts half of the world’s GCCs. “More than half of the professionals working in GCCs outside India are of Indian origin, which contributes to a strong Indian identity in the sector,”
Addressing the CII-GCC business summit here , Sitharaman praised the role of cooperative federalism and said, “Aligning national and state policies is crucial for the growth of GCCs.” She praised chief minister Chandrababu Naidu for his initiatives, including attracting a Google data centre and establishing a quantum and space research hub.
The finance minister described the government's approach as policy-driven, aimed at creating a supportive environment for GCCs, instead of relying solely on financial incentives. “The strategy includes strengthening infrastructure, enhancing education and skills, and simplifying governance processes.”
She said capital investment has increased from 1.7 per cent of GDP in 2013-14 to 4.1 per cent in 2024-25, which has facilitated the construction of 88 new airports, the laying of 31,000km of rail tracks and a 60 per cent expansion of the national highway network.
Additionally, Sitharaman said the central government has provided `3.6 lakh crore in interest-free loans to states to support assets-creation. “The latest GST reforms would benefit the tech industry by reducing disputes and easing compliance.”