Madhya Pradesh has become the first state in India to introduce the Global Capability Centre (GCC) Policy 2025,

Description

Madhya Pradesh has become the first state in India to introduce the Global Capability Centre (GCC) Policy 2025, aiming to position the state as a leading hub for global innovation and collaboration. This initiative is part of a larger effort to decentralize business operations from major metropolitan areas to tier-2 cities, fostering economic development and job creation.

Key Features Of GCC Policy 2025

The GCC Policy 2025 includes incentives targeting capital expenditure, payroll, upskilling, and research and development. It focuses on sectors such as IT, finance, engineering, human resources, and emerging technologies like artificial intelligence and cybersecurity. The policy aims to attract more than 50 GCCs and generate over 37,000 direct job opportunities.

Strategic Focus On Infrastructure And Talent

Madhya Pradesh offers a strong infrastructure base, with over five Special Economic Zones (SEZs) and more than 15 IT parks. Cities like Indore, Bhopal, and Jabalpur are crucial to this development. The state is also a major producer of tech talent, graduating over 50,000 tech professionals annually from its 300+ engineering colleges.

Investment Climate And Economic Potential

Ranked fourth in the Ease of Doing Business rankings for 2023, Madhya Pradesh offers a business-friendly environment with streamlined regulations and single-window clearance processes. The upcoming Global Investors’ Summit on February 24-25 is expected to highlight the state's investment opportunities and industrial infrastructure.

Cost Advantages For Global Firms

Madhya Pradesh presents a cost-effective alternative to larger metropolitan cities, with lower operational costs. This, combined with its strong infrastructure, makes it an attractive destination for companies seeking to establish GCCs.

Implementation And Oversight

The Madhya Pradesh State Electronics Development Corporation Limited (MPSeDC) will oversee the implementation of the GCC Policy. A dedicated Policy Implementation Unit (PIU) will handle project approvals, incentive distribution, and compliance monitoring, ensuring smooth execution and support for investors.

Future Prospects

The GCC Policy 2025 is set to transform Madhya Pradesh and its tier-2 cities into global innovation hubs. The state is poised to play a key role in India’s goal of capturing a $110 billion GCC market by 2030. With its robust infrastructure, skilled workforce, and cost-effective environment, Madhya Pradesh is ready to lead India’s GCC revolution.

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