Finance Minister Nirmala Sitharaman: Not just host GCCs; maximise innovation, accelerate discovery | Business News

Nirmala Sitharaman, Union Finance Minister, urged enterprises to focus on maximizing innovation and competitiveness in the next decade, moving beyond simply hosting Global Capability Centres (GCCs). She emphasized that ecosystems, not just incentives, determine long-term competitiveness. Sitharaman called for industry leaders to deepen partnerships with universities, start-ups, and research institutions to ensure seamless innovation from labs to markets. She also encouraged expansion into Tier-2 and Tier-3 cities, recognizing their growing talent and infrastructure potential. Confederation of Indian Industry (CII) organized the GCC summit where Sitharaman highlighted the need for a geographically diverse GCC growth strategy.