Reference
- Reserve Bank of India. Master Direction – Establishment of Branch Office, Liaison Office and Project Office in India, as updated. https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10398&Mode=0
- KPMG India (secondary). Recommendations of the 56th GST Council meeting, September 2025. https://www.in.kpmg.com/taxflashnews/KPMG-Flash-News-Recommendations-of-56th-GST-Council-meeting.pdf
- The Tribune / ANI (secondary). Low-risk businesses to get GST registration within 3 days from 1 November, 23 September 2025. https://www.tribuneindia.com/news/cbic/come-nov-1-small-low-risk-businesses-will-get-gst-registration-approval-within-3-days
- BDO India. Key amendments to the Finance Bill 2026 as passed by Lok Sabha, 27 Mar 2026. https://www.bdo.in/en-gb/insights/alerts-updates/direct-tax-alert-key-amendments-to-the-finance-bill-2026-as-passed-by-lok-sabha
- RSM India. Key Amendments in the Finance Act, 2026 vis-à-vis the Finance Bill, 2026, 2026. https://www.rsm.global/india/insights/rsm-india-newsflash-key-amendments-finance-act-2026-vis-vis-finance-bill-2026
- PIB. Recommendations of the 56th GST Council meeting, 3 Sep 2025. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2163555
- KPMG TaxNewsFlash. India: GAAR applied to deny capital gains exemption under Mauritius treaty, 20 Jan 2026. https://kpmg.com/us/en/taxnewsflash/news/2026/01/tnf-india-gaar-applied-to-deny-capital-gains-exemption-for-indirect-share-transfer-under-mauritius-treaty-supreme-court-decision.html
- Khaitan & Co. SC denies India-Mauritius tax treaty benefit for Tiger Global, 16 Jan 2026. https://www.khaitanco.com/thought-leadership/SC-denies-India-Mauritius-tax-treaty-benefit-for-Tiger-Global-rejects-grandfathering-protection-under-GAAR
- Aurtus. Transfer pricing alert: safe harbour rules, Feb 2026. https://static1.squarespace.com/static/602be9735116c32c97e7ff22/t/699fcbc734bc061346699c4a/1772080071848/Aurtus_Transfer+Pricing+Alert_Safe+Harbour+Rules.pdf
- Government of India (Gazette). Finance Act, 2026 (No. 4 of 2026), 30 Mar 2026. https://www.incometaxindia.gov.in/documents/d/guest/finance-act-2026-pdf-1
- PIB. Safe harbour for IT services: Budget 2026-27 release, 1 Feb 2026. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2221428
- Zinnov. Why the World Should Invest in India Global Capability Centers, 2026. https://zinnov.com/centers-of-excellence/why-the-world-should-invest-in-india-global-capability-centers-gccs-blog/
- NASSCOM Community. India’s Unique Value Proposition: An Ecosystem for Scalable Innovation through GCCs, undated. https://community.nasscom.in/communities/global-capability-centers/indias-unique-value-proposition-ecosystem-scalable-innovation
- Ministry of Finance (via Invest India). Economic Survey 2025-26, January 2026. https://static.investindia.gov.in/s3fs-public/2026-03/economic_survey_25-26.pdf
- Invest India. Karnataka state page, retrieved 1 Oct 2026. https://www.investindia.gov.in/state/karnataka
- Government of Karnataka (via Invest India). Karnataka Global Capability Centres Policy 2024-29, 2024. https://static.investindia.gov.in/s3fs-public/2024-11/karnataka_global_capability_centres_gccs_policy_2024-29_draft.pdf
- Mondaq / Khaitan & Co. Karnataka’s Final GCC Policy Launched, 5 Dec 2024. https://www.mondaq.com/india/government-contracts-procurement-ppp/1553886/karnatakas-final-gcc-policy-launched
- Industries Department, Government of Maharashtra. Press Note: Maharashtra Global Capability Centre Policy-2025, 2025. https://industry.maharashtra.gov.in/sites/default/files/2025-09/gcc-policy-paraesa-naota-english.pdf
- Khaitan & Co. ERGO: Maharashtra GCC Policy, 11 Nov 2025. https://www.khaitanco.com/sites/default/files/2025-11/ERGO%20-%20Maharashtra%20GCC%20Policy%20-%2011%20November%202025.pdf
- IANS, via SocialNews.XYZ. Maharashtra approves operational guidelines for GCC Policy 2025, 20 Aug 2026. https://www.socialnews.xyz/2026/08/20/maharashtra-approves-operational-guidelines-for-global-capability-centre-policy-2025
- Government of Gujarat, DST (via GIFT City). Gujarat Global Capability Center (GCC) Policy (2025-30), 11 Feb 2025. https://api.giftgujarat.in/public/GCC_Policy.pdf
- Khaitan & Co. Odisha releases its GCC Policy, 20 Feb 2026. https://www.khaitanco.com/sites/default/files/2026-02/ERGO_Impetus%20to%20GCCs%20in%20India_Odisha%20releases%20its%20GCC%20Policy_20%20February_2026.pdf
- Invest UP, Government of Uttar Pradesh. UP GCC Policy, 2024, retrieved 1 Oct 2026. https://invest.up.gov.in/up-gcc-policy-2024/
- Khaitan & Co. Uttar Pradesh releases its final GCC Policy, 11 Jun 2025. https://www.khaitanco.com/thought-leadership/Uttar-Pradesh-releases-its-final-GCC-Policy
- Business Standard. Uttar Pradesh Global Capability Centres Policy, 2024: key features, 23 Sep 2026. https://www.business-standard.com/amp/economy/uttar-pradesh/uttar-pradesh-global-capability-centres-policy-2024-key-features-incentives-and-eligibility-126092100300_1.html
- Business Standard. Tamil Nadu emerges as GCC magnet, 14 Jul 2024. https://www.business-standard.com/industry/news/tamil-nadu-turns-latest-hotspot-for-gccs-adds-50-000-jobs-in-three-years-124071400281_1.html
- IFSCA. IFSCA Authority meeting press release, 23 Dec 2025. https://www.ifsca.gov.in/CommonDirect/ViewFile?id=38fea9cc5969551d78bf00e670af9cad&fileName=Press_Release_20251223_0207.pdf
- India Briefing. BCI revises rules for foreign lawyers and firms, 21 May 2025. https://www.india-briefing.com/news/bci-revises-rules-for-foreign-lawyers-and-firms-37569.html/
- Outlook Business. GCCs await national framework, 21 Jan 2026. https://www.outlookbusiness.com/budget/gccs-await-national-framework-as-states-lure-global-firms-to-tier-2-3-cities
- Invest India. Navigating India’s Legal and Regulatory Framework, Dec 2025. https://static.investindia.gov.in/s3fs-public/2025-12/navigating_india_s_legal_and_regulatory_framework.pdf
- DPIIT. Consolidated FDI Policy, 2020, as amended. https://www.dpiit.gov.in/static/uploads/2025/07/6457fc2703ee6082366c4a958b6473a8.pdf
- Ministry of Finance. Budget Speech 2026-27 and Memorandum to Finance Bill 2026, 1 Feb 2026. https://www.indiabudget.gov.in/doc/budget_speech.pdf
- IndexBox. T-Mobile inaugurates tech centre in Hyderabad, 4 Jun 2026. https://www.indexbox.io/blog/t-mobile-opens-global-capability-center-in-hyderabad-india/
- CLC Law (secondary). Safe harbour, APA and transfer pricing under new Income-tax Rules 2026, 2026. https://www.clclaw.in/blog/safe-harbour-apa-and-transfer-pricing-under-new-income-tax-rules-2026-june-30-compliance-deadline
- EY India tax alert (secondary). Supreme Court ruling on PE: Hyatt International, Jul 2025. https://www.ey.com/content/dam/ey-unified-site/ey-com/en-in/alerts-hub/2025/07/sc-rules-that-continuous-and-substantive-control-over-operations-of-indian-entity.pdf
- Ministry of Finance. Memorandum explaining the provisions in the Finance Bill, 2026, 1 Feb 2026. https://www.indiabudget.gov.in/doc/memo.pdf
- KSMG (secondary). Taxation and Other Laws (Amendment) Act 2026, 2026. https://ksmg.co/insights/income-tax/taxation-and-other-laws-amendment-act-2026
Reference (continued)
- PIB. Employment Linked Incentive Scheme, 2025. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2206145
- PIB. Cabinet approves RDI Scheme, 1 Jul 2025. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2223191
- PM India. Cabinet approves RDI Scheme, 1 Jul 2025. https://www.pmindia.gov.in/en/news_updates/cabinet-approves-research-development-and-innovation-rdi-scheme-to-scale-up-research-development-and-innovation-in-strategic-and-sunrise-domains/
- RBI. Notification FEMA 395/2019-RB, 2019, as amended. https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11723&Mode=0
- Invest India. Doing Business in India: Investor’s Guide 2025-26, Oct 2025. https://static.investindia.gov.in/s3fs-public/2025-10/doing_business_in_india_investor_s_guide_at_a_glance_2025-26.pdf
- PIB. Four Labour Codes come into effect, 21 Nov 2025. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2192463
- Ministry of Home Affairs. Employment visa guidelines (Annex III), 2018. https://www.mha.gov.in/PDF_Other/AnnexIII_01022018.pdf
- Gazette of India. Employees’ Provident Fund Scheme, 2026 (G.S.R. 525(E)), 29 Jun 2026. https://gazettetracker.com/g/CG-DL-E-01072026-273957
- DPIIT. Press Note 2 (2026 Series), 15 Mar 2026. https://www.dpiit.gov.in/static/uploads/2026/03/b9da5830b052c2f2d788593e97d07c63.pdf
- DPIIT (FIF portal). SOP for processing foreign investment proposals, 4 May 2026. https://fifp.gov.in/Forms/SOP.pdf
- RBI. Master Direction – Foreign Investment in India, updated Jun 2026. https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=11200
- Vistra (secondary). Press Note 2 (2026) explained, 2026. https://www.vistra.com/insights/cabinet-decision-changes-fdi-guidelines-countries-sharing-land-borders-india-press-note
- Saraf and Partners (secondary). Press Note 2 (2026) update, 2026. https://sarafpartners.com/dpiit-issues-press-note-no-2-2026-series-notifying-amendments-to-press-note-3-of-2020-investment-from-land-bordering-countries/
- Trilegal (secondary). Foreign investment in India: the 2026 reset, 2026. https://trilegal.com/news-insights/thought-leadership/foreign-investment-in-india-the-2026-reset/
- DPIIT. FDI Factsheet, April 2000 to March 2026, 2026. https://www.dpiit.gov.in/static/uploads/2026/06/41192ca92c1de34eb064800fbffa0379.pdf
- UNI. Billtrust inaugurates Hyderabad GCC, 28 Sep 2026. https://www.uniindia.com/business-economy/business-telangana-billtrust/196226
- MeitY (Gazette text via dpdpa.com). Digital Personal Data Protection Rules, 2025, 13 Nov 2025. https://www.dpdpa.com/DPDP_Rules_2025_English_only.pdf
- Business Standard. JLL Business Services opens 1.2 lakh sq ft GCC in Hyderabad, eyes expansion, 6 Aug 2026. https://www.business-standard.com/companies/news/jll-business-services-opens-1-2-lakh-sq-ft-gcc-in-hyderabad-eyes-expansion-126080601610_1.html
- Business Today. Lonza to set up India global capability centre, 5 Mar 2026. https://www.businesstoday.in/industry/pharma/story/lonza-to-set-up-india-global-capability-centre-519317-2026-03-05
- Republic World. T-Mobile opens India tech hub in Hyderabad, plans to hire 1,000 employees, 4 Jun 2026. https://www.republicworld.com/amp/tech/us-telecom-giant-t-mobile-opens-india-tech-hub-in-hyderabad-plans-to-hire-1000-employees-2026-06-04-126974
- Government of Tamil Nadu (via Guidance Tamil Nadu). G.O.(Ms.) No. 34: Special Scheme to promote Global Capability Centres, 12 Mar 2024. https://storage.investingintamilnadu.com/Guidance/Uploads/Others/go_1.pdf
Data cited without a separate reference entry
- Stanford AI Index 2025, as cited in the Economic Survey 2025-26 (AI skill penetration).
- Zinnov, India GCC landscape (FY2026E) and FY2024 data on tier-2 and tier-3 cities.
All statuses are as of 1 October 2026. Statistics are quoted from the sources listed and have not been independently audited.