Finance Minister Nirmala Sitharaman on Thursday said India's goal of hosting 5,000 Global Capability Centres (GCCs) by 2030 is "achievable and realistic", stressing that the next phase of growth will depend on expanding GCCs beyond metropolitan cities into Tier-2 and Tier-3 locations.
Speaking at the CII National GCC Business Summit 2026 on Thursday, Sitharaman said nearly two-thirds of the world's Fortune 2000 companies are yet to establish GCCs in India, leaving significant headroom for growth.
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She said policy measures announced in the latest Union Budget — including simplified transfer pricing, enhanced safe harbour rules, a fast-track advance pricing mechanism, city economic regions, university townships and the Urban Challenge Fund — were aimed at accelerating GCC expansion.
"GCCs can't be only in top cities," she said, adding that cities such as Chandigarh, Varanasi and Visakhapatnam should emerge as new hubs.
Around 10 states have already announced or are developing dedicated GCC policies, and more than 14 states participated in the summit, reflecting growing interest from regional governments.
The finance minister urged industry body CII to engage with chief ministers and state finance ministers to build specialised ecosystems that support knowledge-driven industries.
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Highlighting India's rising strategic role, Sitharaman said GCCs in the country generate around $100 billion in annual revenue, with more than 500 Forbes 2000 companies already operating centres here.
India now hosts nearly half of the world's GCCs, with one new centre being established every day.
She said India's value proposition has shifted from cost efficiency to capability and innovation leadership, with more than half of new GCCs being AI-first and increasingly handling global leadership, research and technology mandates.
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