After Karnataka, Maharashtra plans a dedicated GCC policy

Maharashtra is in active conversation with industry stakeholders to formulate a dedicated global capability centre (GCC) policy to stay competitive in the race to attract investments from the fast-growing sector.

This comes close in the heels of Karnataka, which unveiled the country’s first dedicated state GCC policy with the intention to attract as many as 500 new centres, and create 350, 000 jobs by 2029. 

Sources said that senior officials have met with and discussed the issues and expectations of GCCs already present, or looking to set up centres in the state, along with other industry stakeholders like staffing firms.

“We were asked to give suggestions for a policy to attract GCCs to the state, and discussed the issues and expectations with the representatives (from the state). We also told them our experience in other states,” said the country head of a GCC with presence in multiple states, including Maharashtra.

States like Andhra Pradesh, Tamil Nadu, Karnataka, and Uttar Pradesh have some incentives in place to attract GCCs.

The other states, including Maharashtra have an active IT/ITES policy which so far covered GCCs, but now, Maharashtra intends to have a separate policy for the emerging sector.

Also ReadDiwali Special: Consumer durable cos eyeing 30-50% growth this festive season, say premium products to supercharge 2024 sales

Currently, India has close to 1600 unique GCCs with as many as 2600 centres and an employed workforce of 1.7 million. According to data compiled by staffing firm Quess Corp, 39% of India’s GCCs are hosted in Bengaluru, accounting for 46% of the total workforce. Pune and Mumbai each host between 12%-14% of the country’s GCCs.

“Maharashtra has the advantage of data connectivity, good quality power, and a high density of data centres, which makes it an ideal GCC destination. However, Pune and Mumbai are ranked third in terms of GCC presence in the country, behind cities like Bengaluru and the NCR area,” a person in the know observed.  

This has spurred the state towards the formulation of a dedicated policy to attract GCCs. The headroom for GCC growth in the country is significant, industry executives said, as it is estimated that every 3rd GCC in the country, is looking at a multi-city strategy.

Maharashtra government officials could not be reached till press time for comments.

 » Read More

Related Articles

How will markets open today? Here are top 7 cues to watch ahead of trading on February 11

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are implied to open on a higher note on Tuesday. Also, Asian markets opened majorly on a higher note in early trade hours as investors looked past the tariff threats from Donald Trump. Previously, on Monday, the NSE Nifty 50 finished the

Stocks To Watch: Reliance Ind, Grasim Ind, Bata, Titan, ONGC, IHCL, Nykaa, Lupin, Eicher Motors, Ahoka Buildcon

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a higher opening on Tuesday. Here’s a look at the key stocks to watch in trade. Stocks in Focus: Here’s a comprehensive list of stocks to keep in mind before you start your day. From Reliance Industries to Ashoka Buildcon

DIIs place big bets on 2 pharma giants. Multibaggers in the making?

By Suhel Khan As the world’s largest supplier of generic drugs, renowned for its cost-effective vaccines and generic medicines, India plays a very important role in global medicine. The Indian pharmaceutical industry has transformed into a flourishing sector, currently ranking third globally in terms of production volume and 14th in terms of value. Over the

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

How will markets open today? Here are top 7 cues to watch ahead of trading on February 11

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are implied to open on a higher note on Tuesday. Also, Asian markets opened majorly on a higher note in early trade hours as investors looked past the tariff threats from Donald Trump. Previously, on Monday, the NSE Nifty 50 finished the

Stocks To Watch: Reliance Ind, Grasim Ind, Bata, Titan, ONGC, IHCL, Nykaa, Lupin, Eicher Motors, Ahoka Buildcon

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a higher opening on Tuesday. Here’s a look at the key stocks to watch in trade. Stocks in Focus: Here’s a comprehensive list of stocks to keep in mind before you start your day. From Reliance Industries to Ashoka Buildcon

DIIs place big bets on 2 pharma giants. Multibaggers in the making?

By Suhel Khan As the world’s largest supplier of generic drugs, renowned for its cost-effective vaccines and generic medicines, India plays a very important role in global medicine. The Indian pharmaceutical industry has transformed into a flourishing sector, currently ranking third globally in terms of production volume and 14th in terms of value. Over the

Rupee fall hurts India Inc hard

The rupee inched closer to the 88-mark against the US dollar on Monday, putting companies in import-sensitive sectors on the edge. While firms fear a surge in imported inflation on account of rupee depreciation, consumer electronics companies, for instance, are taking price hikes to protect margins. In sectors such as thermal power, where the cost

Bata India Q3 profit grows marginally to Rs 58.6 crore on weak demand

Footwear major Bata India on Monday reported a marginal 1% growth in its net profit at Rs 58.6 crore during the October-December quarter, as compared to Rs 57.9 crore in the same quarter in 2023-24. Bloomberg consensus estimates had pegged the net profit during the quarter at Rs 72 crore.  The company’s revenue from operations