Back

Jayant Mundhra

 • 

Dexter Capital Advisors • 9m

Adidas to build its maiden GCC in India 🙏🙏 Thanks to Tamil Nadu govt! Don’t get it? Let’s dive in! .. Nike and Puma already have global captive capability centres in India, employing thousands of folks in decent or high-paying roles. And now, Adidas has come in, joining over 1.7k companies which have built GCC presence in India. And for this, Adidas has picked Chennai, with space for 700+ employees to start with. .. But, why did I mention Tamil Nadu Govt for this? -> Because, months ago, presenting its budget for FY25, CM Stalin’s Tamil Nadu Govt unveiled a new policy. -> It announced a payroll subsidy scheme for GCCs to set up in the State and create jobs there. Let’s learn more about this. .. As of 2018, India had some 750 or so global capability centres (GCCs). Today, that’s already between 1.6-1.9k mark, depending which source you pick. And, Bangalore, Hyderabad, Gurgaon, Noida and Pune lead the show (not in that order). And every other day, we keep hearing about new massive GCCs, like the massive one from Boeing which was inaugurated by PM Modi himself in January. .. When global companies began building GCCs in India almost two decades back, Chennai was one of the hottest destinations. Somehow, Chennai isn’t that today. And that is why, Tamil Nadu Govt stepped in. .. So, what does its policy say? -> A payroll subsidy of 30% in the 1st year, 20% in the 2nd year and 10% in the 3rd year for jobs with pay above Rs 1L/month -> This will categorically lead to the creation of high-paying jobs, and that too in a State which has one of the highest numbers of engineering colleges in India That’s bound to be a big positive 🙏🙏 .. This policy was a declaration of war. I mean, while states have been going all out to compete for manufacturing investments, Tamil Nadu, with this policy stormed up the services sector too. And the Adidas event only validates that. Hope this triggers a domino effect, with other states emulating Tamil Nadu's approach to attract GCCs. This could lead to a more competitive and dynamic environment for attracting foreign investment in the services sector. What do you think?

9 replies12 likes
3
Replies (9)

More like this

Recommendations from Medial

Image Description
Image Description

Krishyogee

Marketing Strategist... • 8m

Is anyone here from Tamil Nadu or South India?

24 replies15 likes
1
Anonymous

Agree with me or not. I am not from Tamil Nadu. But this is budget. This is the real f*cking best budget in the history of any indian states. Google Tamil Nadu budget to get more insights.

0 replies3 likes

Mahendra Lochhab

Content creator • 1m

Japanese electronics firm Murata to set up manufacturing unit in Tamil Nadu

0 replies2 likes
Image Description
Image Description

Chamarti Sreekar

Passionate about Pos... • 2m

Kinder Joy’s Potter Edition generated ₹150 Cr in sales in India, with Maharashtra contributing ₹35 Cr, Tamil Nadu ₹30 Cr, UP ₹28 Cr, Karnataka ₹25 Cr, and Bengal ₹20 Cr

4 replies13 likes
1

Suresh Kumar

Hey I am on Medial • 4m

I am Pestcontrol i need franchises base pest control services any body interested in Tamil nadu

0 replies4 likes
Image Description

mg

News & updates • 19d

Finance minister Nirmala sitharaman slams DMK for removing '₹' symbol from Tamil Nadu Budget says - This mindset Weakens India's unity

1 replies5 likes
Image Description
Image Description

Nawal

Hope , I can Help yo... • 6m

Okay this sounds great on paper atleast 🔥 US-based Trilliant Networks is poised to invest Rs 2,000 crore to establish a manufacturing unit and a Development & Global Support Centre in Tamil Nadu. A (MoU) was signed between the Tamil Nadu governme

See More
4 replies8 likes
Image Description
Image Description

Jayant Mundhra

 • 

Dexter Capital Advisors • 5m

I was amazed to learn that 97% of all 19k buses operated by Tamil Nadu Govt are from Ashok Leyland 🙌🙌 Somehow, when it comes to the Tamil Nadu Govt’s tenders for buses, there is only one winner, whichever party may be in power. Tata, Eicher, SML

See More
5 replies15 likes
2

gray man

I'm just a normal gu... • 21d

Jaguar Land Rover has canceled its plans to manufacture electric vehicles at Tata Motors' newly proposed $1 billion plant in Tamil Nadu, India. The decision comes as the company struggles to strike a balance between cost and quality in locally sour

See More
0 replies4 likes
Image Description

Kolkata Index

News on Infrastructu... • 4m

GoWB is drawing plans to unveil a fresh policy for Drone Manufacturing! This is in addition to the 2 new policies to be rolled out for Semiconductor & GCC. Govt is planning to meet leaders in Drone sector to formulate the policy. A Drone Academy in

See More
2 replies9 likes
1

Download the medial app to read full posts, comements and news.