2 weeks Ago
Karnataka IT minister Priyank Kharge (File photo) BENGALURU: Karnataka govt has launched India’s first GCC ( global capability centres ) policy with an aim of creating 500 new GCCs by 2029, generating an economic output of $50 billion. Karnataka has distinguished itself as a trailblazer in the GCC landscape, boasting a presence of over 500 GCCs with a market size of $22 billion and employing over six lakh employees. The 500 new GCCs are expected to create 3.
5 lakh new jobs in Karnataka by 2029. Karnataka govt is offering a reimbursement of 20% of skilling expenses up to Rs 36,000 per graduate and Rs 18,000 for diploma holders. This is applicable for any new or existing GCCs with a minimum of 100 employees.
To set up innovation labs and centres of excellence, state govt will fund up to 40% of capital expenditure (up to Rs 4 crore) in Bengaluru urban district. For GCCs moving beyond Bengaluru, govt will provide up to 80% reimbursement of quality certification fees, with a maximum limit of Rs 8 lakh for GCCs operating beyond Bengaluru. It will also provide up to 50% reimbursement of the statutory fees for patent filings to GCCs up to Rs 3 lakh for domestic patents.
Each GCC is eligible to use this benefit once a year. “GCCs have evolved from back-office operations to be critical drivers of global strategic initiatives and technology solutions. With a workforce of over 1.
2 million and contributing $22.2 billion to economy, GCCs have been a vital source of growth and employment for Karnataka. With this policy, we expect GCCs to grow at a compounded annual rate of 12-14% over next decade and foresee Karnataka holding nearly 50% of national GCC market share by 2029,” state IT minister Priyank Kharge said.
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