Tamil Nadu to offer sops for creation of high paying jobs in Global Capability Centres
Tamil Nadu government in its Budget has said it will incentivise the creation of high paying jobs in new GCCs by providing a payroll subsidy. The move is being lauded by industry watchers and experts as one that could potentially bolster Tamil Nadu to narrow the gap with other GCC hubs like Bengaluru and Hyderabad.
«I see this to be a brilliant move to bring the spotlight back on Tamil Nadu which has the unique distinction of having deep technology and domain talent across industries such as manufacturing, automotive, financial services and healthcare,» Ramkumar Ramamoorthy, Partner at Catalincs, a growth advisory firm told ET.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitThe state's Finance Minister Thangam Thennarasu in his Budget speech on Monday said that a large number of prominent multinational companies are now establishing their Global Capability Centres (GCC) in the State. He added that state of the art research, design, product prototyping and testing for the global market was now being done in Tamil Nadu.
«In order to make Tamil Nadu as the prime destination for GCCs in India, the State will incentivise the creation of high paying jobs in new GCCs by providing a payroll subsidy of 30 per cent in the first year, 20 per cent in the second year and 10 per cent in the third year for jobs
