India continues to emerge as preferred destination for Global Capability Centres, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said India continues to emerge as a preferred destination for Global Capability Centres (GCCs) because of its skilled and strong institutions and innovation ecosystem.

Addressing the CII National GCC Business Summit in New Delhi, the Finance Minister said, the country hosts more than 2100 GCCs employing 23 lakh professionals directly and generating nearly 100 billion US dollars in annual revenue. She said Global Capability Centres represent transformation by bringing together engineering, research, artificial intelligence, cybersecurity, finance, product design, and data science to drive continuous innovation.

Ms Sitharaman said, MNCs are now more likely to build their next capability centres in India than anywhere else. She highlighted that India’s GCC ecosystem represents the world’s largest organised knowledge export. The Finance Minister said, Indian GCCs are assuming a growing share of global leadership mandates and strategic decision-making responsibilities. She added that India’s aspiration is not merely to host the world’s capability centres but to shape the next-generation technologies, products and enterprises of the future.