India's CEA V. Anantha Nageswaran urges firms boost skills, innovation
India's Chief Economic Adviser V. Anantha Nageswaran is encouraging companies to double down on skill-building and innovation as AI shakes up the way Global Capability Centers (GCCs) work.
At a recent industry summit, he pointed out that while the government has rolled out tax reforms and incentives for new regions, it is really up to businesses to move beyond just cutting costs and start focusing on creative growth.
Budget eases GCC tax rules
The latest budget makes things simpler for GCCs with easier tax rules and support for expanding into smaller cities, not just the big metros.
Nageswaran highlighted that although AI will take over repetitive jobs, well-run teams can actually become more valuable.
He urged companies to get their workforce ready for these changes so India can stay ahead in the global AI game, saying that AI will eliminate repetitive tasks but can also increase the value of well-run centers.