India’s Global Capability Centres (GCCs) have acquired a distinct Indian identity, with 50 percent of GCCs operating in the country and over half of the professionals in GCCs abroad being of Indian origin, said Union Finance Minister Nirmala Sitharaman. She delivered the keynote address at the Confederation of Indian Industry’s Global Capability Centre Business Summit on GCC policy for states, held at Radisson Blu, Visakhapatnam.
The Finance Minister outlined the government’s policy-led approach to position India as a leading hub for GCCs. She highlighted three pillars driving growth: investments in infrastructure, education and skilling, and facilitative governance.
On infrastructure, Finance Minister Sitharaman noted that capital investment has risen from 1.7 percent of GDP in 2013-14 to 4.1 percent in 2024-25. This has enabled the opening of 88 new airports, the addition of 31,000 kilometres of rail tracks, and a 60 percent expansion of national highways.
In education and skilling, the government focuses on employability and industry-ready talent. The Research, Development and Innovation Scheme, with a corpus of Rs 1 lakh crore, encourages private sector investment in strategic and emerging sectors.
Governance reforms have simplified business processes, including the introduction of Spice Plus for company incorporation and C-PACE for accelerated corporate exits. Over 42,000 outdated compliances and 1,500 archaic laws have been removed. Sitharaman praised cooperative federalism, highlighting Andhra Pradesh’s proactive role in attracting investments such as the Google data centre and establishing quantum and space research centres.
Chief Minister N. Chandrababu Naidu invited GCC officials to set up units in Visakhapatnam, emphasising the state’s strong connectivity, resources, and industrial ecosystem. He announced plans for a greenfield airport in Amaravati, expansions at existing airports, proposed bullet train routes, and development of Quantum Valley, AI initiatives, green energy, and hydrogen projects. He also highlighted the establishment of Tata Innovation Hubs and the incoming Google data centre.
Naidu expressed confidence that India, under Prime Minister Narendra Modi and Finance Minister Sitharaman’s reforms, is set to become the world’s third-largest economy.
Key industry leaders including CII past president R Dinesh, CII task force chairman Gunjan Samtani, CII co-chair Romal Shetty, director general Chandrajit Banerjee, and CII AP chairman Murali Krishna Gannamani attended the summit.
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