MP Unveils India's First Dedicated GCC Policy

(MENAFN- Live Mint) Bhopal, Feb 14 (PTI) Madhya Pradesh has become the first state in the country to bring a dedicated Global Capability Centre (GCC) policy that looks to position the state as a leading hub for global innovation and collaboration.

The Madhya Pradesh GCC Policy 2025 combines incentives for capital expenditure, payroll, upskilling, and research and development with a designated nodal agency responsible for its implementation, according to a state government note.

The policy targets sectors such as IT, finance, engineering, human resources, and emerging technologies, with a particular emphasis on artificial intelligence (AI) and cybersecurity.

This groundbreaking policy is India's first dedicated framework for fostering GCC growth in tier-2 cities, signalling a strategic shift towards decentralizing business hubs beyond traditional metro cities.

The policy is aimed at attracting over 50 GCCs and generate more than 37,000 direct jobs, thereby establishing Madhya Pradesh as a centre of excellence for IT/ITeS, advanced analytics, R&D and digital transformation.

By facilitating foreign investments and encouraging infrastructure development, the state aims to create a solid ecosystem that caters to multiple industries, including automotive, pharmaceuticals, logistics, textiles, aerospace and emerging technologies like AI and cybersecurity, the note said.

The policy was unveiled ahead of Madhya Pradesh's binennial Global Investors' Summit in Bhopal on February 24-25 that aims to attract investment and showcase the state's economic potential. The summit aims to highlight Madhya Pradesh's investment climate and industrial infrastructure, offering numerous opportunities for potential collaborations.

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