The Karnataka government has officially released its final Global Capability Centre (GCC) policy, marking a significant step towards establishing a robust infrastructure for these centres in the state. Building on a draft introduced in September, the policy aims to set up 500 new GCCs by 2029, boosting the total number to 1,000. The initiative is expected to generate 3.5 lakh jobs and contribute a substantial $50 billion to the state’s economy.

In a major announcement at the Bengaluru Tech Summit, Chief Minister Siddaramaiah unveiled plans to create three dedicated Global Innovation Districts in Bengaluru, Mysuru, and Belagavi. These districts will serve as dedicated hubs for GCCs, encouraging their growth and fostering innovation.

The GCC policy includes several key incentives to attract both national and international companies. Among the provisions, up to 50% reimbursement for internship stipends is offered, aiming to provide internships to 1 lakh students throughout the policy period. Additionally, GCCs in areas outside Bengaluru will benefit from a five-year exemption from electricity duty and be allowed to switch to industrial power tariffs. Reimbursements for property taxes will also be provided to ease operational costs.

In line with its focus on fostering manufacturing, the state also announced the establishment of an electronics manufacturing cluster (EMC) in Mysuru. Furthermore, a new Bengaluru Global Innovation District will be developed under the Knowledge, Wellbeing, and Innovation City (KWIN City) initiative.

The policy also introduces the concept of nano GCCs, small-scale centres with flexible operations and a workforce ranging from 5 to 50 employees. These nano centres will be eligible for a range of incentives without the need to meet stringent employment or investment requirements.

Deputy Chief Minister D.K. Shivakumar further highlighted the government’s commitment to infrastructure development, announcing the start of a tunnel project and the Bengaluru Business Corridor, formerly known as the Peripheral Ring Road, in the next six months. These projects are aimed at alleviating the city’s traffic congestion.

The event also saw the launch of INNOVERSE, an innovation campus dedicated to housing and advancing deep-tech innovations. The government has ramped up efforts to bring startups and investors together, fostering potential funding opportunities. Additionally, a strategic partnership with LetsVenture will enhance startup visibility and facilitate fundraising activities across the state.

Also Read | Bengaluru’s Thriving Journey from BPO Centre to Global GCC Hub

Karnataka’s IT/BT Minister Priyank Kharge engaged with delegations from six countries—Austria, France, Germany, UAE, Finland, and Switzerland—to explore potential collaborations in technology, innovation, and entrepreneurship. The GCC policy is set to create over 5,000 jobs in Bengaluru, with another 1,000 jobs expected in regions beyond the city, further strengthening Karnataka’s position as a key hub for global businesses and innovation.

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