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Race for GCCs now in heightened state(s)

Economic TimesEconomic Times · 13d
Race for GCCs now in heightened state(s)

Several Indian states, including Madhya Pradesh, Uttar Pradesh, Telangana, and Andhra Pradesh, are vying to attract global capability centers (GCCs) by drafting their own policies and offering incentives. These states are looking to establish back-office hubs outside the traditional tech hotspots of Bengaluru and NCR. They are focusing on infrastructure development, talent enhancement, and financial incentives to attract multinational companies to set up GCCs. Meanwhile, states like Gujarat and Tamil Nadu are also offering incentives and proposing reforms to attract GCCs and create high-paying jobs. Bengaluru currently leads in GCCs followed by NCR, Hyderabad, Pune, and Mumbai. Nasscom estimates that GCCs in India will contribute around $100 billion to the country's GDP by 2030.

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