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Karnataka has announced ambitious plans to double the number of global capability centers (GCCs) in the state to 1,000 by 2029, as outlined in a draft policy released on Friday. did. The initiative also aims to create 350,000 new jobs, attract more foreign companies to set up local offices and strengthen the state’s position as a major player in India’s technology industry. There is. The draft policy, the first of its kind for an Indian state, offers various incentives to attract foreign investors.
This includes office rent and patent fee refunds and electricity tax exemptions. Companies benefit based on the number of employees they add to their GCC operations. The state government also expects $50 billion in economic output from these new centers by the end of the decade. Karnataka is pushing for expansion in the GCC ecosystem as the sector is showing promising growth. A recent report by Nasscom and Zinnov, reported via HT, predicts that India’s GCC locations could grow to 2,100-2,200 by 2030, with 2.5-2.8 million employees. There is. This highlights that Karnataka is poised to be at the forefront and has the potential for significant growth and job creation in the coming years.
Bengaluru, the capital of Karnataka and the technology capital of India, has traditionally been the center of most of the GCC. However, the government is keen to expand beyond Bangalore and is promoting cities such as Mangaluru, Mysuru and Tumakuru as attractive alternative cities for foreign companies to set up operations. The move is aimed at spreading economic development across the state and more balancedly distributing technology-driven growth.
In addition to encouraging foreign companies, Karnataka’s policy includes several initiatives to promote innovation and local talent. The government will establish three new technology parks and fund skills training courses with a particular focus on artificial intelligence. Research grants are also awarded to projects that advance cutting-edge advances in technology.
With these measures, Karnataka aims to position itself as a global hub for technology and innovation, driving economic growth while ensuring job creation and development expands beyond traditional technology centres.
