MNCs tapped for GCCs in GIFT City
Mint Mumbai|January 25, 2024
The central government is keen to have foreign banks and multinational companies (MNCs) in India set up global capability centres (GCCS) at the GIFT City in Gujarat, counting on their ability to generate jobs, three people aware of the matter said.
MNCs tapped for GCCs in GIFT City

The matter was discussed at a 23 January meeting between Union finance minister Nirmala Sitharaman and representatives of several foreign firms including a US-headquartered bank, Scotland-based banking and insurance major NatWest Group, and German carmaker MercedesBenz's research and development division, besides others.

"The government wants to understand more regarding the role of GCCs and to know from industry leaders whether they can set up GCCs in the Gift City," said one of the three people cited above.

The second person said the meeting was an outcome of initial talks held during the Vibrant Gujarat Summit in January.

The third person also confirmed that the meeting with the government was meant to discuss ideas for setting up GCCs in the Gift City.

Queries sent to spokespersons of the finance ministry and NatWest remained unanMercedes-Benz swered declined to comment. A spokesperson for industry body Nasscom confirmed that it was also a part of the meeting.

A senior industry official, who was part of the discussions, said there was no directive issued by the Centre, but the meeting was more to understand what would be needed by industries to incentivize such facilities.

هذه القصة مأخوذة من طبعة January 25, 2024 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة January 25, 2024 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من MINT MUMBAI مشاهدة الكل
IMAX India box office collections dip 36%
Mint Mumbai

IMAX India box office collections dip 36%

Ontario, Canada-based large-screen format cinema technology firm IMAX saw its India box-office collections fall by 36% in 2024, with Hollywood and local language films together delivering just $14.7 million in earnings.

time-read
1 min  |
February 17, 2025
Need for speed new priority as Centre trims road target
Mint Mumbai

Need for speed new priority as Centre trims road target

India plans to more than double the length of high-speed roads in the coming fiscal and target less of two- and four-lane highways, as the focus shifts to offering faster connectivity between key economic centres across the country.

time-read
2 mins  |
February 17, 2025
JioHotstar, Nielsen partner for ad data
Mint Mumbai

JioHotstar, Nielsen partner for ad data

New OTT platform Jio-Hotstar, that emerged from the union of Jio Cinema and Disney+Hotstar, has tied up with global media audience measurement firm Nielsen to launch third-party verified advertising data starting with the upcoming edition of the Indian Premier League (IPL) cricket tourney, marking a major and long-pending shift towards transparency in digital ad measurement.

time-read
2 mins  |
February 17, 2025
Mint Mumbai

UK debuts £2.5bn steel plan after US tariff threat

The UK government debuted a new plan to protect jobs in the country's steel industry just days after US President Donald Trump threatened to introduce 25% tariffs on imports of steel and aluminium from all countries.

time-read
1 min  |
February 17, 2025
For influencers crowding Kumbh, the struggle is real
Mint Mumbai

For influencers crowding Kumbh, the struggle is real

The social media opportunity of a lifetime—the Mahakumbh Mela in Prayagraj, which happens once in 144 years—has turned out to be a difficult one for the teeming army of influencers to convey footage from, especially when it comes to commercial videos shot for brands.

time-read
3 mins  |
February 17, 2025
Plans afoot to curb misuse of Tapentadol, Pregabalin drugs
Mint Mumbai

Plans afoot to curb misuse of Tapentadol, Pregabalin drugs

Both these are prescription drugs but government plans to curb their use as narcotics

time-read
2 mins  |
February 17, 2025
Sebi plans to streamline asset claims
Mint Mumbai

Sebi plans to streamline asset claims

The markets regulator has proposed detailed guidelines to manage unclaimed assets and improve the return processes for investors to prevent misuse

time-read
4 mins  |
February 17, 2025
The ₹10 beverage market is starting to get crowded
Mint Mumbai

The ₹10 beverage market is starting to get crowded

From buttermilk to fruit drinks and sparkling beverages, consumer companies are driving deeper into the market for ₹10 packs.

time-read
3 mins  |
February 17, 2025
Startups Target Profitability, Ditching Growth-at-Any-Cost
Mint Mumbai

Startups Target Profitability, Ditching Growth-at-Any-Cost

Over the next two years, several early-stage startups in India are expecting to break even

time-read
3 mins  |
February 17, 2025
Recent business books to add to your TBR list
Mint Mumbai

Recent business books to add to your TBR list

Overwhelmed by the disruptions and disasters of the world of business? Take a deep breath and dive into these books

time-read
2 mins  |
February 17, 2025