India will continue to be a premier destination for setting up GCCs; govt needs to ramp up infrastructure investment: PwC Report
The report mentioned that the global companies are showing a strong commitment to keeping their operations in India, with less than 25 per cent of business leaders surveyed considering moving their GCCs out of the country.
Instead, they are focusing on expanding and upgrading these centres to become global sourcing hubs for IT and business processes, especially by using artificial intelligence and digital technologies.
The report stated, 'India will continue to be a premier destination for setting up GCCs, with global companies committed to maintaining their presence in the country'.
As per the data, India is expected to see the addition of over 150 new GCCs in the coming years. To support this growth, national and state governments must increase investment in infrastructure.
This will help strengthen the overall GCC landscape in the country and make it more competitive.
The report added, 'The national and state governments therefore need to intensify investments in infrastructural development to bolster the Indian GCC landscape'.
It also highlighted that leaders from both headquarters and Indian GCCs, across product and service-based companies, have shared suggestions with the government on how to make India a more attractive destination for these centres.
These suggestions include steps to improve ease of doing business, technology infrastructure, and regulatory support.
GCCs in India have grown over the years from being cost-saving units to becoming innovation-focused and multifunctional centres of excellence. Today, they are playing a central role in their headquarters' global growth strategies.
The report described them as 'cost-conscious innovators' that are now key to India's transformation into a global digital powerhouse.
The report also pointed out that by implementing the recommended steps, the value generated by Indian GCCs could increase significantly.
Currently, GCCs are expected to deliver a value growth of 11-12 per cent during FY25 to FY29. With proper actions, this could rise to 14-15 per cent, resulting in a weighted average compound annual growth rate (CAGR) boost of 3-4 per cent.
The report showed a positive outlook for India's role in the global GCC ecosystem and stresses the importance of government support to maintain this momentum. (ANI)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
2 hours ago
- India Gazette
India's tax reforms, digital push have increased revenue, cut compliance costs: FM Sitharaman
New Delhi [India], July 1 (ANI): Union Finance and Corporate Minister Nirmala Sitharaman on Tuesday said that India's tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs. Speaking at the Third Plenary Meeting during the #FFD4 in Seville of Spain, the Finance Minister said, 'We support international cooperation to modernise tax systems and curb illicit financial flows. India's comprehensive tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs.' 'We believe that optimal regulation fosters innovation and stability. The Indian financial system promotes inclusivity through easier credit and lower compliance costs, especially for MSMEs. We have developed a dynamic ecosystem for start-ups and PPPs in infrastructure,' she added. Finance Minister added that India supports reforms to the international financial architecture to enhance inclusivity and equity, including Multilateral Development Banks (MDBs) reforms and fairer credit rating systems. She added that MDB lending must be aligned with long-term development goals and backed by robust monitoring frameworks to ensure that funds are used as intended. Sitharaman in her address added that the country has consistently placed people at the centre of its development strategy. 'Through targeted policy interventions, we have lifted 250 million people out of multidimensional poverty, and empowered communities through inclusive Digital Public Infrastructure (DPI),' she added. However, for robust global growth, national efforts must be complemented by an enabling international environment, the Union Finance Minister asserted. Going further, she said, 'We remain committed to South-South and Triangular Cooperation. We support the call for a reversal in the decline of ODA, and urge developed countries to enhance climate finance that is predictable, accessible, and concessional, particularly for adaptation in vulnerable countries.' 'In the spirit of India's civilizational ethos - 'Vasudhaiva Kutumbakam' or 'The World is one family' - we must unite in our efforts to drive meaningful change that benefits all,' FM stated. 'We are meeting here in Seville, a decade after the adoption of the Addis Ababa Action Agenda, acknowledging the progress made by nations in navigating complex global landscapes, and finding ways to address current challenges that continue to stand in the way of financing global development goals. With many SDG targets off track and a financing gap exceeding USD 4 trillion annually for developing countries, the need for urgent and transformative action is clear,' Finance Minister further added. (ANI)
India Gazette
2 hours ago
- India Gazette
Michelin-star chef Vikas Khanna to bring Assam tea festival to his New York restaurant 'Bungalow'
New York [US], July 1 (ANI): The 200 Years of Assam Tea celebrations at the Summer Fancy Food Show 2025 in New York witnessed a special moment with the presence of Michelin Star Chef Vikas Khanna as the Guest of Honour at a business roundtable hosted by the Consulate General of India, New York. Chef Khanna, an internationally acclaimed culinary ambassador and founder of the iconic New York restaurant 'Bungalow', shared his heartfelt connection with Assam, having travelled to the state 11 times. He spoke of Assam's cultural vibrancy, the distinctiveness of its tea, and the passion of its people, which deeply moved him during each of his visits. In a warm and generous gesture, Chef Khanna proposed to host an Assam Tea Festival at his restaurant 'Bungalow' in New York in the near future, to honour the state's 200-year legacy in the global tea industry. He underscored that Assam's tea, cuisine, textiles, and culture are pillars of India's soft power and deserve sustained international celebration and recognition. The Government of Assam has welcomed this proposal and will actively work to bring the Assam Tea Festival in New York to fruition as part of its larger global outreach strategy for Assam Tea. The gesture is expected to significantly enhance global visibility and consumer engagement with Assam's tea and cultural identity. Adding to the momentum of India's cultural presence in the city, Nita Ambani visited Chef Vikas Khanna's Bungalow restaurant last month ahead of the upcoming NMACC India Weekend scheduled in New York this September, further highlighting the growing global spotlight on Indian heritage and cuisine. Reliance Foundation Founder-Chairperson Nita Ambani and Chef Vikas Khanna have curated a unique culinary experience for the NMACC India Weekend. 'Our Founder Mrs. Nita M Ambani shared a heart-warming evening with Chef Vikas Khanna as they curate a unique culinary experience for the #NMACCIndiaWeekend! Flavors of India, served with love in NYC @LincolnCenter! Sep 12-14, 2025 Lincoln Center for the Performing Arts,' NMACC said in a post on X. The post was accompanied by a new video. In the video, Khanna can also be heard saying, 'It's an honour for an Indian chef to be hosting Mrs. Ambani.' The weekend will commence on September 12, at the David H Koch Theatre, Lincoln Centre for the Performing Arts, with the highly anticipated US premiere of India's largest theatrical production, 'The Great Indian Musical: Civilisation to Nation'. Blending dance, art, fashion, and music, this production is a spectacular tribute to India's past, present and future that travels the country's history from 5000 BC until its independence in 1947, a release said earlier. Featuring a cast of over 100 performers, opulent costumes and larger-than-life sets, 'The Great Indian Musical' is an unrivalled theatrical experience. The show, India's largest musical, with a line-up of exceptional Indian talent, along with a Tony and Emmy award-winning crew, has been conceived and directed by Feroz Abbas Khan, it added. This marquee production will feature the collaboration of great artists like Ajay-Atul (music), Mayuri Upadhya, Vaibhavi Merchant, Samir and Arsh Tanna (choreography). The visual spectacle will also feature costumes designed by leading fashion designer Manish Malhotra. The show will have a limited run of five performances. The opening night on September 12 will commence with an invite-only red carpet - the 'Grand Swagat' (Grand Welcome) - featuring the 'Swadesh Fashion Show Curated by Manish Malhotra', spotlighting India's celebrated traditional weaves and skilled artisans. The evening will have a special presentation of cuisines and flavours from ancient to modern India, presented by Michelin-starred chef Vikas Khanna. The NMACC India Weekend will also take over Damrosch Park from September 12-14, bringing alive enthralling and engaging experiences in the form of a 'Great Indian Bazaar'. Guests will be introduced to the finest Indian fashion and textiles, decadent flavours, as well as dance, yoga and music experiences, the release said. (ANI)
India Gazette
2 hours ago
- India Gazette
"Create an equilibrium that is fair to us": EAM Jaishankar on India-China ties
Washington DC [US], July 1 (ANI): External Affairs Minister S Jaishankar on Tuesday emphasised the need to stabilise India's relationship with China by creating a balanced 'equilibrium' that is fair to New Delhi's interests. During a fireside chat with Newsweek, Jaishankar outlined India's strategic approach to navigating its position in the Indo-Pacific amid growing tensions between the US and China. He acknowledged the competitive edge in the US-China relationship and its implications for India, noting that both nations have strategic views and tactical approaches toward each other, and India assesses how its interests can be advanced in this landscape. The EAM noted that the relationship between the US and China has acquired a sharper competitive edge, and India is assessing how to advance its interests in this landscape. 'There are certain realities of the landscape. One of them is that the relationship between the US and China is not what it used to be. That is, it has acquired a much sharper competitive edge... There'll be an element of tactics to it. There's a larger strategic view that they have of each other that we would look, quite honestly, to see in what way our interests are furthered in this landscape,' he stated. Jaishankar highlighted the need to create an equilibrium in the India-China relationship that is fair to India, while also working on convergences with the United States to maximise benefits. 'In many ways we have very strong convergences with the United States. At the same time, we are China's largest neighbour... We want stable relations with China. They're a very large trade partner as well, a very imbalanced trade, but still a very large trade account. For how to steady the China relationship, create an equilibrium that is fair to us. At the same time, how do you work the convergences with the United States and get the most out of it that's frankly the way we would approach it,' Jaishankar added. The India-China relationship is expected to have reached normalcy after both countries had reached an agreement in October last year on patrolling arrangements in the Depsang Plains and Demchok, two friction points along the Line of Actual Control (LAC). The understanding was reached after earlier disengagement in other friction points in eastern Ladakh following meetings at diplomatic and military levels. Turning to India's role in the Indo-Pacific, Jaishankar elaborated the significance of the QUAD alliance, a strategic partnership comprising India, the US, Japan, and Australia, in fostering stability and prosperity in the Indo-Pacific region--noting that the first international meeting of the Trump 2.0 administration was a Quad meeting, underscoring its importance. Jaishankar outlined the Quad's objectives, declaring the Quad as an equal partnership among four nations positioned at the 'four corners of the Indo-Pacific', working collaboratively to foster stability and prosperity in region and that the grouping had worked on several issues unrelated to the group's primary concern over China's dominance in the region. 'The quad is a very interesting mechanism, partly because it was an international commitment which resurfaced during President Trump's first administration... It was a new commitment made by the United States under President Trump. There's been a lot of progress since 2017 when it was restarted and again, it was interesting that the first international meeting of the Trump 2.0 administration started with a quad meeting,' the EAM noted. He outlined the QUAD's objectives, including maritime safety and security, connectivity, technology, pandemic preparedness, and education, with a focus on creating a stable and prosperous Indo-Pacific region. 'There are a lot of issues that we need to discuss in the Indo-Pacific. Issues about maritime safety and security, issues about connectivity, issues of technology, issues of pandemic preparedness, and issues of education. You have four countries in a way - four corners of the Indo-Pacific - who have decided that they have a shared interest in creating a stable more prosperous Indo Pacific and are willing to work on a very practical basis. It's a kind of equal arrangement where everybody pays their fair share as you go along,' he added. The Quad is a diplomatic partnership among Australia, India, Japan, and the US, committed to supporting an open, stable, and prosperous Indo-Pacific region that is inclusive and resilient. The Quad's origins date back to the collaboration in response to the December 2004 Indian Ocean tsunami. (ANI)
