The Confederation of Indian Industry (CII) on September 21 released a model state policy to help states attract and expand global capability centres (GCCs), Deccan Chronicle reported.
The framework suggests that states create facilitation cells to speed up approvals, design fiscal incentives, and invest in digital infrastructure such as high-performance computing clusters and data centres.
CII estimates the GCC sector could add nearly $200 billion to India’s economy by 2030 if growth spreads beyond current hubs. Nearly 95% of the country’s 1,800 GCCs are concentrated in six tier-1 cities.
To change that, the policy calls for housing, transport, and civic amenities to be planned alongside new centres. It also urges states to support tier-2 and tier-3 cities as future innovation hubs, creating more jobs across the country.
Chandrajit Banerjee, director general of CII, told Deccan Chronicle that the extraordinary rise of GCCs has been one of the most key developments in India’s economic journey. “But to sustain leadership and expand share of global value chains, states must step up with clear, competitive, and innovation-oriented policies,” he said.
India already hosts 1,800 GCCs employing about two million people. US corporations such as Texas Instruments, American Express, Microsoft, Google, JPMorgan, Walmart, Meta, and Ford, operate large centres in the country.By 2030, India is expected to host more than 4,200 GCCs with over 4.5 million employees. Revenue could grow from $50 billion in FY24 to $110 billion in FY30, according to a report by the Software Technology Parks of India.
The post India’s GCCs Could Add $200 Billion by 2030, Says CII appeared first on Analytics India Magazine.
