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Tamil Nadu to offer sops for creation of high paying jobs in Global Capability Centres
Economic Times
·
1y ago
Medial
Tamil Nadu government plans to incentivize the creation of high-paying jobs in Global Capability Centres (GCCs) by offering a payroll subsidy. This move aims to attract more GCCs to the region and compete with hubs like Bengaluru and Hyderabad. The subsidy will be provided for three years, with 30% in the first year, 20% in the second year, and 10% in the third year for jobs paying above Rs. 1 lakh per month. Industry experts believe this initiative will accelerate growth and attract investment to the state. However, it is noted that a welcoming culture for outsiders will also be crucial for the success of this strategy.
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Workday to establish GCC in Chennai with Rs 220 crore investment
Economic Times
·
2m ago
Medial
Workday is setting up a global capability centre in Chennai, investing Rs 220 crore, and creating up to 3,000 jobs. This will serve as a strategic hub for product and technology development to support Workday’s global operations with a focus on AI technologies. A memorandum of understanding has been signed with Tamil Nadu's investment promotion agency. The move highlights the growing presence of global capability centres in Tamil Nadu, which already hosts over 250 such centres.
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Race for GCCs now in heightened state(s)
Economic Times
·
7m ago
Medial
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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Chennai to add 12-13 million sq ft of premium office space in 2025-26
Economic Times
·
7m ago
Medial
Chennai is experiencing strong demand for premium office space, prompting the addition of 12-13 million sq ft between 2025 and 2026. Currently, the city houses 250 Global Capability Centres (GCC) employing over 150,000 professionals, with projections of reaching 460 units and 350,000 talent by 2030. The government's strategic policies, such as the Tamil Nadu Startup and Innovation Policy, have contributed to Chennai's emergence as a hub for innovation and talent. Additionally, the city is ranked third in GCC leasing activity after Bengaluru and Hyderabad, with office absorption increasing significantly. Other cities in Tamil Nadu are also emerging as key manufacturing hubs, attracting investment opportunities for GCCs.
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Need to streamline policies to make India GCC hub: Official - The Economic Times
Economic Times
·
2d ago
Medial
India aims to streamline national policies to establish itself as a hub for Global Capability Centres (GCCs), currently localized in states like Karnataka, Tamil Nadu, and Telangana. Economic Affairs Secretary Anuradha Thakur suggests emulating successful state policies nationwide. With about 1,800 GCCs contributing significantly to the economy, expanding them to Tier 2 cities could enhance talent and infrastructure. Coordinating with states and leveraging global collaborations are seen as vital to promote employment and attract foreign companies.
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Tamil Nadu To Set Up Two New Regional Startup Hubs In Coimbatore, Tiruchi
Inc42
·
1y ago
Medial
The government of Tamil Nadu has established regional hubs in various cities to support startups, organize events, and promote innovation. Additionally, Global Startup Coordination Centres in Singapore and the US will be set up to assist startups in expanding internationally. Tamil Nadu, known for successful startups like Zoho and Freshworks, has a thriving startup ecosystem with over 7,700 registered startups.
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IndoSpace to dial up investment in Tamil Nadu to meet warehouse demand
VCCircle
·
9m ago
Medial
- IndoSpace plans to increase investment in Tamil Nadu by 41% in the next three years to meet the rising demand for industrial parks. - The demand for warehouse developers has surged as companies aim to diversify supply chains and capitalize on India's economic growth. - The Indian warehousing market is projected to double to $37 billion by 2032. - IndoSpace has already invested $380 million in Tamil Nadu and aims to raise the investment to $536 million. - The company expects to create over 8,000 new jobs in addition to the 15,000 jobs already planned through a previous partnership with the Tamil Nadu government. - Tamil Nadu is a preferred manufacturing destination for global companies such as Foxconn, Samsung, and Tata Motors' Jaguar Land Rover.
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South side story: Can attractive sops turn Chennai into a hub for GCCs?
Economic Times
·
1y ago
Medial
Chennai is positioning itself as the new tech city of the South, with multinational companies considering it as a potential location for their tech bases and global capability centres (GCCs). The city offers advantages such as high-quality English-speaking talent, a thriving industrial ecosystem, and government incentives. The German brand Adidas has already set up its first GCC in Asia outside China in Chennai, and other companies like Bank of America, Standard Chartered, and Amex are expanding in the region. Chennai aims to compete with Bengaluru and Hyderabad to attract tech companies and talent.
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Global Capability Centres to generate 1M jobs in 6 years: NLB Services report
YourStory
·
5m ago
Medial
Global capability centres (GCCs) are increasingly targeting India due to its skilled workforce and favourable policies. A report by NLB Services predicts GCCs will create 1 million jobs and employ 3.3 million professionals by 2030, with the number of centres exceeding 2,100, reaching a $100 billion market size. Demand is high for skills in customer experience, cybersecurity, digital transformation, AI, and cloud computing. Cities like Bengaluru and Pune are key hubs, focusing on inclusivity and niche skills.
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AstraZeneca invests $30M to expand global innovation centre in Chennai
YourStory
·
1y ago
Medial
AstraZeneca India has announced a $30 million investment to expand its Global Innovation and Technology Centre (GITC) in Tamil Nadu. The company inaugurated its Global Capability Centre (GCC) in Chennai, which is expected to be its largest center globally, aiming to streamline operations and create 1,300 positions by next year. The expanded GCC will focus on leveraging technology such as AI, machine learning, and data science to shape healthcare outcomes. The investment is seen as a boost for the pharmaceutical and healthcare sectors, as well as technological advancements and economic development in Tamil Nadu.
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GCC hiring momentum to continue next year with 18-20% surge in uptake
Economic Times
·
6m ago
Medial
Global capability centres (GCCs) are expected to continue their growth in 2025, with a projected 18-20% increase in hiring. These centres, which act as strategic innovation hubs for global enterprises, are set to create around 340,000-380,000 additional jobs in the coming year. Traditional sectors like BFSI, healthcare, and retail, as well as emerging sectors like travel and logistics, are driving the demand for GCCs to facilitate digital transformation and operational efficiency. Technology roles such as AI/ML engineers and cybersecurity specialists are expected to be in high demand, along with leadership positions in innovation and operations.
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