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Karnataka launches GCC policy, first state to do so

Economic Times

Economic Times · 11m ago

Karnataka launches GCC policy, first state to do so

The Karnataka government has introduced the draft Global Capability Centres (GCC) Policy 2024-2029, aiming to attract investments and create 500 new centres by 2029. The policy seeks to generate 3.5 lakh jobs and $50 billion in economic output. The government plans to decentralize development by incentivizing GCCs to establish operations in cities like Mangaluru, Mysuru, and Hubballi. Proposed incentives include property tax reimbursements, EPF contributions, and exemptions from electricity duty. Additionally, three new technology parks will be set up. The draft policy is open for public comments to further refine it.

Related News

Sops, tier-2 cities top focus in tech’s Karnataka GCC Policy wishlist

Economic Times

Economic Times · 1y ago

Sops, tier-2 cities top focus in tech’s Karnataka GCC Policy wishlist

Karnataka is developing a policy to boost Global Capability Centers (GCC) and attract more Fortune 500 companies to set up their technology centers in the state. Industry leaders have suggested that the policy should include investment in infrastructure growth in tier 2 cities, provide local incentives based on employment creation, and establish single window approval cells. Karnataka plans to collaborate with Nasscom and consult with the industry before finalizing the policy. Currently, Bengaluru is home to over 25% of GCCs in India and accounts for the majority of GCC talent.

Karnataka to remain driving force behind India's GCC industry: IT minister Priyank Kharge

Economic Times

Economic Times · 1y ago

Karnataka to remain driving force behind India's GCC industry: IT minister Priyank Kharge

The Karnataka government, in partnership with ANSR, released the Karnataka GCC Landscape Report, focusing on the state's thriving Global Capability Centres (GCC) ecosystem. The report highlights Karnataka's growth, impact, and potential in the digital industry. The government aims to establish a resilient ecosystem for GCCs by implementing strategic interventions and facilitators, including the development of the first GCC Policy in India. With incentives, regulations, and new policies in place, Karnataka is poised to attract enterprises looking to enhance their digital capabilities. Bengaluru remains the preferred location for GCC buildouts, boasting a high concentration of digital talent.

Karnataka forms working groups to fix gig worker welfare levy, tech integration - The Economic Times

Economic Times

Economic Times · 2m ago

Karnataka forms working groups to fix gig worker welfare levy, tech integration - The Economic Times

Karnataka plans to establish a gig worker welfare board, becoming the first southern Indian state to do so. The board will be funded by a 1-5% levy on gig worker payouts, with higher revenue platforms contributing more. Two working groups will finalize levy rates and technology integration, with input from various stakeholders. The initiative is part of the Gig Workers (Social Security and Welfare) Ordinance and aims to benefit around five lakh gig workers in the state.

Karnataka accounts for nearly half of India’s mid-market GCCs: Zinnov-KDEM study - The Economic Times

Economic Times

Economic Times · 8d ago

Karnataka accounts for nearly half of India’s mid-market GCCs: Zinnov-KDEM study - The Economic Times

The Karnataka Digital Economy Mission and consulting firm Zinnov released a report highlighting Karnataka's dominance in India’s mid-market Global Capability Centres (GCCs), with over 230 centres. The state accounts for 27% of India’s GCC ecosystem, noted for rapid growth and innovation. IT-BT minister Priyank Kharge launched the Katalyst Karnataka GCC handbook to ease business setup. Karnataka also boasts significant global engineering and cybersecurity talent, contributing to its thriving hub for AI-led innovation.

Madhya Pradesh unveils GCC Policy 2025 to attract global investments

YourStory

YourStory · 7m ago

Madhya Pradesh unveils GCC Policy 2025 to attract global investments

Madhya Pradesh's new Global Capability Centre (GCC) Policy 2025, introduced by Chief Minister Mohan Yadav, aims to attract multinational companies and establish the state as a digital hub. With a focus on innovation, infrastructure, and incentives, the policy seeks to transform the state's industrial landscape, especially in IT and finance sectors. The upcoming Global Investors Summit-2025 will showcase this initiative, aiming to elevate Madhya Pradesh as a prime destination for global GCC investments.

Karnataka's Kitven launches Rs 20 crore fund for AVGC sector

Economic Times

Economic Times · 1y ago

Karnataka's Kitven launches Rs 20 crore fund for AVGC sector

Karnataka's Karnataka Information Technology Venture Capital Fund (Kitven) has launched a dedicated venture capital fund worth Rs 20 crore for the animation, visual effects, gaming, and comics (AVGC) sector. This initiative aims to support and invest in companies within the state contributing to the AVGC sector. Karnataka becomes the first state in India to set up a fund specifically for the AVGC sector, recognizing its potential for innovation and employment generation. The investments will be made in the form of equity, preferred capital, debentures, or a combination.

Karnataka Brings In Policy To Curb Cybercrimes

Inc42 · 1y ago

Karnataka Brings In Policy To Curb Cybercrimes

The Karnataka government has implemented a cybersecurity policy to address the growing threat of cybercrimes and protect the state's digital infrastructure. The policy focuses on building a collaborative ecosystem involving the public, academia, industry, startups, and the government. It aims to strengthen the state's IT assets and establish Karnataka as a leading hub for cybersecurity. The policy is expected to play a significant role in safeguarding the digital landscape of the state.

India aims to expand GCC footprint beyond top six cities for greater inclusiveness: MeitY - The Economic Times

Economic Times

Economic Times · 2m ago

India aims to expand GCC footprint beyond top six cities for greater inclusiveness: MeitY - The Economic Times

At the CII GCC Summit, the Ministry of Electronics and Information Technology (MeitY) highlighted plans to expand India's global capability centers (GCCs) beyond six major cities to tier-II locations for greater inclusivity. Emphasizing infrastructure improvements and innovation, MeitY is crafting a national GCC policy to potentially triple GCC numbers by 2030. This expansion aims to boost India's GDP, create employment, and foster talent through enhanced infrastructure and strategic policy frameworks.

Karnataka HC refuses relief to bike aggregators; Nasscom warns state govt of huge job losses

Economic Times

Economic Times · 3m ago

Karnataka HC refuses relief to bike aggregators; Nasscom warns state govt of huge job losses

The Karnataka High Court declined to stay a single judge's order stopping bike taxi services until a policy is in place, affecting companies like Ola and Uber. Nasscom warned the Karnataka government of job losses and economic impact, urging a policy review similar to other states. The state previously banned bike taxis due to lack of electric vehicle use and tax issues, causing a clash with ride-hailing services. The case is ongoing.

States must be alive to emerging trends & tech, says Karnataka HC in bike taxi judgment

Economic Times

Economic Times · 5m ago

States must be alive to emerging trends & tech, says Karnataka HC in bike taxi judgment

The Karnataka High Court ruled that ride-hailing platforms like Uber, Ola, and Rapido cannot offer bike taxi services in Karnataka until a policy framework is in place. The court emphasized that the state government should remain open to evolving trends and new technologies for commuter options. While denying bike taxis in a policy vacuum, the court disagreed with the state's view that two-wheelers cannot be considered transport vehicles, encouraging government openness to new approaches.

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