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India’s Global Capability Centres Are Now Powering Tax Strategy Worldwide India is fast becoming the epicentre for complex global tax operations , with multinational corporations (MNCs) increasingly relying on their India-based Global Capability Centres (GCCs) to run high-value and knowledge-driven tax functions. This trend is highlighted in a newly released whitepaper by Deloitte India , titled Transforming Global Tax Functions: The GCC Advantage . According to the report, India-based GCCs have matured beyond their traditional back-office roles . They now play a strategic role in managing global tax functions , covering a wide range of areas including corporate tax, indirect tax, transfer pricing, tax litigation , and digital tax transformation. GCCs: Becoming Strategic Tax Hubs The whitepaper, authored by Manisha Gupta, Partner at Deloitte India , underlines how India's GCC ecosystem offers a unique combination of talent, technology, and cost advantage , enabling MNCs to ...

India’s Economic Growth Projection for 2024-25: Navigating Challenges Amid Uncertainty The Indian economy, one of the fastest-growing major economies globally, is expected to grow at 6.5-6.8% in the fiscal year 2024-25 , according to Deloitte India’s latest Economic Outlook. Despite optimism, several internal and external factors continue to shape the economic landscape. Revised Growth Projections: A Cautious Approach Deloitte’s adjustment of the GDP growth projection underscores the need for caution amidst rising global trade and investment uncertainties. Q2 2024-25 GDP Growth : Recorded at 5.4% year-on-year , falling below market expectations. Revised Forecasts : The RBI lowered its growth forecast to 6.6% , while the NSO estimates 6.4% for the current fiscal. Future Growth : Deloitte projects growth in 2025-26 to range between 6.7-7.3% , reflecting cautious optimism. Key Factors Influencing Economic Growth Election and Weather-Related Disruptions The election uncertai...