Gujarat Chief Minister Bhupendra Patel unveiled a new policy on Tuesday to position the state as a global hub for Global Capability Centres (GCCs). The policy, titled Gujarat Global Capability Centre Policy for 2025-30, aims to attract an investment of Rs 10,000 crore over the next five years, with the goal of establishing Gujarat as a preferred destination for GCCs in sectors like IT, finance, and human resources.
The policy launch took place during a function at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking a significant step in Gujarat's push for digital transformation and innovation. CM Patel highlighted the government's commitment to promoting GCCs, which offer crucial services such as managing global functions and driving innovation for their parent companies.
Policy incentives and support
To encourage companies to set up their GCCs in Gujarat, the policy offers several attractive measures. These include interest subsidies, electricity duty exemptions, and capital expenditure (capex) support. For GCCs with a Gross Fixed Capital Investment (GFCI) of less than Rs 250 crore, the state will provide capex support of up to Rs 50 crore. For those with a GFCI above Rs 250 crore, the support increases to Rs 200 crore.
Additionally, the policy supports operational expenditure (opex), with up to Rs 20 crore for smaller units and up to Rs 40 crore for larger ones. There are also provisions for one-time support for hiring local employees, including up to Rs 50,000 for male and Rs 60,000 for female employees hired and retained for at least one year.
Job creation and economic growth
The state aims to attract at least 250 new GCC units over the next five years, generating approximately 50,000 new jobs in the process. The policy also offers reimbursement for the employer's statutory contribution to the Employees' Provident Fund (EPF), covering 100% for female employees and 75% for male employees for five years.
With the launch of this policy, Gujarat seeks to foster a thriving ecosystem for innovation and digital services, creating a strong foundation for long-term economic growth and employment generation.
