business

Karnataka to unveil country’s maiden GCC policy soon

On Jul 16, 2024 By The Hindu Bureau

Karnataka currently is home to 570 Global Capability Centres (GCCs) with a 2x enterprise-ready talent compared to any other location in the country. By 2030, Karnataka could host around 330 Forbes 2000 enterprises, and the trend would be driven by India’s increasing prominence as the global GCC hub, according to a report.

The report was jointly released by the Department of Electronics, IT/BT, Science and Technology, Government of Karnataka and Karnataka Digital Economy Mission (KDEM), and ANSR, an advisory firm focused on GCCs.

According to the Karnataka GCC Landscape Report, Bengaluru remains the hotspot for GCC buildouts, a hub for start-ups and the preferred choice for platform engineering, owing to access to 25% of India’s digital talent. Also, 60% of Forbes Global 2000 companies who have GCCs in India have their centres set up in the city.

Leading force

Releasing the report here on Monday, Priyank Kharge, Minister for IT & BT and Rural Development & Panchayat Raj, said Karnataka has been the leading force in India’s digital revolution, with GCCs serving as a key driver for the state’s growth trajectory. ‘‘We are implementing strategic interventions and facilitators to establish a resilient business and operational ecosystem for GCCs.’‘

Mr. Kharge further said Karnataka stood at a pivotal juncture in the GCC/IT/ITeS industry, with a thriving ecosystem that extended far beyond Bengaluru. The State government has introduced incentives, regulations, and new policies supporting GCC set-ups in both Bengaluru and emerging tech clusters such as Mysuru, Hubbali, and Mangaluru. ‘‘These measures are poised to attract the next wave of enterprises aiming to enhance their digital capabilities,’‘ he added.

Direction to MNCs

The tech-progressive Karnataka is planning the country’s maiden GCC policy to give a direction to global multinational companies that are exploring setting up GCCs in Karnataka. ‘’We are coming up with the first GCC Policy in India to support better the GCCs looking to start operations in Karnataka,’‘ the Minister said.

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