Karnataka launches GCC policy, first state to do so

The Karnataka government on Friday unveiled the draft Global Capability Centres (GCC) Policy 2024-2029, targeting 500 new centres by 2029. This makes Karnataka the first state in the country to launch a dedicated GCC policy to attract investments in the growing sector.

The 2024-2029 policy aims to create 3.5 lakh new jobs and generate an economic output of $50 billion.

Through its ‘Beyond Bengaluru’ initiative to decentralise development, the state government will focus on incentivising GCCs to set up operations in cities including Mangaluru, Mysuru, and Hubballi-Dharwad-Belagavi, Kalaburagi, Tumakuru and Shivamogga with an aim to showcase the offerings and capabilities of these cities.