Nirmala Sitharaman says India ready to lead next generation technology
India's Finance Minister Nirmala Sitharaman says the country is ready to move from just hosting global capability centers (GCCs) to actually leading in next-generation tech, products, and startups.
She called this shift essential for building a more innovative and prosperous Viksit Bharat at the recent GCC Business Summit.
India targets 5,000 GCCs by 2030
Here is the big opportunity: around two-thirds of Fortune Global 2000 companies still do not have GCCs in India.
Right now, over 2,100 GCCs are already creating $100 billion a year and employing 2.3 million people.
The goal? Hit 5,000 centers by 2030, especially by expanding into smaller cities and exploring new markets like East Asia and the Nordics.
Sitharaman also stressed teaming up with state governments and colleges so India can truly become a global knowledge hub.