Fix the basics

GCC revolution needs infrastructure, policy certainty

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Union Finance Minister Nirmala Sitharaman recently said that the government viewed global capability centres (GCCs) as a "great opportunity". This follows up on her statement in the Union Budget earlier this year that a national framework would be produced to incentivise the movement of GCCs to smaller towns.

It is certain that GCCs are an exciting development for what had become a moribund industry. It is vital for India that its strength in the export of services is not overtaken by technological advances but progresses in lockstep with them. The shift in business processes and the creation of in-house capacity that is associated with the growth of GCCs is one that India must certainly take advantage of.

Ms Sitharaman shared some optimistic projections about the global roles that might be associated with the growth of such centres: They would grow from merely 6,500 today to 30,000 in 2030 if correct steps were taken to find and establish home-grown talent.