New Delhi, July 14 -- Finance minister Nirmala Sitharaman on Monday said that the industry and the government need to explore ways to increase the setup rate of GCCs (global capability centres) in India and make the country more attractive for the remaining Fortune 500 companies that are yet to open their GCCs here.

Speaking at the GCC Business Summit organized by the Confederation of Indian Industry (CII), the finance minister said that there was a need for institutionalizing governing mechanism for GCCs so that action from the top at the central level goes to the states and even to lower tiers so that GCCs can launch operations anywhere in the country with the available talent pool.

"We need to lubricate the entire administrative and ...