Race for GCCs now in heightened state(s)
global capability centres (GCCs) in India, states are eager to grab a piece of the action. Madhya Pradesh, Uttar Pradesh, Telangana and Andhra Pradesh are among those drafting their own GCC policies to attract multinationals with incentives to create back-office hubs outside the traditional hot spots of Bengaluru and NCR.
In August, Madhya Pradesh chief minister Mohan Yadav travelled to Bengaluru to meet industry leaders to showcase the state and discuss expansion plans. He also extended invitations for Regional Investor Conclaves across the state as well as the Global Investors Summit 2025 in February, said people aware of the matter.
Uttar Pradesh has already drafted a policy that highlights its «strategic location, young workforce, and rapidly developing infrastructure, (which) is well-positioned to benefit from this growth.» The state aims to attract GCCs «by focusing on infrastructure development, talent enhancement, and financial incentives.»
It's also promoting Centres of Excellence (CoEs) in emerging fields such as artificial intelligence (AI) and cybersecurity, according to the Uttar Pradesh Global Capability Centres Policy 2024 draft document. The state says it could become a hotspot for downstream GCC sectors, including software and technology, BFSI (banking, financial services & insurance), semiconductors, healthcare, and medical devices. The state can also tap into emerging sectors such as AI, data analytics and digital engineering, it added.
Downstream sectors can operate independently of economies
