Media were informed by sources that the government is developing a framework to facilitate the expansion of global capability centers (GCCs) in India, namely in tier-2 and tier-3 cities.
The sources state that by the end of 2025, the administration hopes to have 2,000 GCCs established.
According to the sources, the Finance Ministry is also attempting to resolve transfer pricing and taxes concerns that GCC companies doing business in India have brought to light.
The government intends to make it easier for GCCs to integrate with educational institutions as part of the suggested framework. This is intended to streamline the recruiting process and choose academic programs that meet industrial standards.
According to the sources, the framework would also include state government onboarding to facilitate quicker authorizations and permissions for the establishment of GCCs. According to the sources, GCC penetration is also anticipated to facilitate the creation of intellectual property (IP) and innovative research in India.
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