GCCs to Get Tax, Legislative Support, Says Sitharaman

Centres' (GCCs) contribution to gross value added (GVA) expected to triple to $150-200 billion by 2030, finance minister Nirmala Sitharaman on Monday promised that the Centre will provide full support, including on taxation and legislative matters, to ensure India retains its dominant position in the fastest growing sector.

- FE BUREAU

WITH GLOBAL CAPABILITY Centres' (GCCs) contribution to gross value added (GVA) expected to triple to $150-200 billion by 2030, finance minister Nirmala Sitharaman on Monday promised that the Centre will provide full support, including on taxation and legislative matters, to ensure India retains its dominant position in the fastest growing sector.

India currently hosts around 2,000 GCCs, with an average of one new centre being established each week in 2024—a trend likely to continue into 2025, the minister said. Nearly 50% of Fortune 500 companies have GCCs in India, collectively employing about 2.16 million professionals, with a compound annual growth rate (CAGR) of 11% over the past five years. This number is expected to rise to 2.8 million by 2030.