Karnataka to Unveil First GCC Policy in India by August

Karnataka is poised to be the first state in India to introduce a dedicated Global Capability Centre (GCC) policy, aimed at attracting higher investments in the sector. The policy will focus on developing Beyond Bengaluru clusters, including Mysuru, Mangaluru, Kalaburagi, and Tumakuru. Karnataka IT Secretary Ekroop Caur announced at the Bengaluru Tech Summit curtain-raiser event that the draft policy will be made public by August. Stakeholder consultations with industry leaders and bodies like Nasscom have already taken place, and feedback will be invited before finalizing the policy.

Objective and Vision

The primary objective of the GCC policy is to create a conducive environment for GCCs and align with the state’s ecosystem to attract significant investments. The state aims to capture over 55% of India’s GCC market by 2030, making Karnataka a hub for global capability centers.

Stakeholder Consultations

The state government has actively engaged with industry leaders and organizations such as the National Association of Software and Service Companies (Nasscom) to ensure the policy is robust and comprehensive. These consultations have been crucial in shaping the policy to meet the needs and expectations of the industry.

Incentives and Support

The policy is expected to include incentives for companies investing in the Beyond Bengaluru clusters, promoting growth and development in these regions. This strategic focus on decentralization aims to alleviate the pressure on Bengaluru and promote balanced regional development across the state.

Beyond Bengaluru Clusters

The Beyond Bengaluru clusters, including Mysuru, Mangaluru, Kalaburagi, and Tumakuru, are set to benefit from this policy. These regions are targeted for development to attract GCCs, leveraging their unique advantages and potential.

Conclusion

Karnataka’s GCC policy represents a significant step forward in attracting global investments and fostering a conducive environment for the growth of GCCs. By focusing on Beyond Bengaluru clusters and incorporating feedback from stakeholders, the state aims to lead India in this sector and achieve substantial market capture by 2030.