FM Moots Concrete Steps to Boost GCCs

The government would back the development of India's global capability centres (GCCs), whether through taxation, legislative support, or state administration, Finance Minister (FM) Nirmala Sitharaman (pictured) said on Monday.

- Ruchika Chitravanshi

Speaking at the Confederation of Indian Industry's GCC Business Summit, the FM said, "There's a lot of work to do. Equally, there is great opportunity for us. So together, with all heads put together, we'll be able to get some concrete steps on which I assure you the best of attention will be given by the Government of India."

Stressing that India should not lose this advantage, Sitharaman said that while taxation was one issue being faced by GCCs, there was a need to lubricate the entire administrative and governing mechanism top-down to ensure the advantages are available for everyone to capture across the country.