By GMICapitals.com 
Uttar Pradesh Unveils GCC Policy
In a landmark policy announcement aimed at transforming Uttar Pradesh into a global technology and innovation hub, the Yogi Adityanath-led state government on Sunday introduced the Global Capability Centres (GCC) Policy 2024. Designed to position key cities such as Noida, Lucknow, Kanpur, and Varanasi as leading destinations for digital services and high-end technology operations, this policy forms a crucial part of the state’s broader goal to become a USD 1 trillion economy.
The GCC Policy 2024 is an ambitious initiative focused on attracting Fortune 500 companies, increasing foreign direct investment (FDI), and generating over 200,000 high-paying jobs in the next five years. It seeks to build a vibrant ecosystem of global capability centres—units that deliver high-value services such as IT, data analytics, R&D, finance, and engineering for global enterprises.
A Tiered Structure for Investment and Inclusion
The policy introduces a two-tiered framework for establishing GCCs, namely Level-1 and Advanced GCCs, with distinct eligibility criteria based on investment size and employment generation.
For Level-1 GCCs, companies must either:
- Invest a minimum of ₹15 crore or employ at least 500 people if the centre is established outside Gautam Buddha Nagar (Noida) and Ghaziabad districts.
- Within these two districts, the minimum investment threshold increases to ₹20 crore.
On the other hand, Advanced GCCs are expected to:
- Invest at least ₹50 crore outside Gautam Buddha Nagar and Ghaziabad, or ₹75 crore within these districts.
- Employ a minimum of 1,000 people.
This tiered and location-sensitive approach ensures that both emerging firms and established enterprises can participate in UP’s digital transformation journey, while also promoting balanced regional development.
Attractive Incentives to Boost Investment
To make Uttar Pradesh a competitive and attractive destination for investors, the GCC Policy 2024 offers a robust incentive package that significantly reduces land acquisition, capital investment, and operational costs. These include:
- Subsidy on Land Cost: Ranging from 30% to 50%, depending on location and investment scale.
- 100% Exemption on Stamp Duty: To reduce the upfront cost of setting up operations.
- Capital Subsidy: Up to ₹10 crore for Level-1 GCCs and ₹25 crore for Advanced GCCs.
- Interest Subsidy: A 5% subsidy on loans to ease financial burden.
- Operational Subsidy: 20% of operational costs reimbursed, capped at ₹40 crore for Level-1 and ₹80 crore for Advanced GCCs.
- Payroll Support: Up to ₹1.8 lakh per employee, a significant push to lower human resource costs.
These incentives reflect a highly strategic and pro-business policy stance that is expected to significantly reduce the total cost of ownership for companies considering a GCC in Uttar Pradesh.
Customised Packages for Fortune 500s and Top Indian Firms
In a further move to attract large-scale and high-value players, the government has included a provision for customised incentive packages for:
- Fortune 500 companies
- India’s top 500 corporates
- Firms bringing FDI above ₹100 crore
These tailored packages will be designed to meet the specific needs of global players, thereby creating an inviting environment for companies seeking to establish strategic offshore units in India.
Focus on Innovation and Startup Ecosystem
In line with the broader national visions of “Digital India” and “Make in India,” the policy not only emphasizes foreign investment but also aims to build a strong innovation ecosystem across the state.
Key initiatives include:
- 50% reimbursement on startup ideation costs, capped at ₹2 crore, to support early-stage innovation.
- IPR Support: Subsidies ranging from ₹5 lakh to ₹10 lakh for patent filings.
- Grants up to ₹10 crore for establishing Centres of Excellence, which will foster research, collaboration, and technology development.
These steps ensure that the benefits of the policy extend beyond corporate investors to include startups, entrepreneurs, and academia, creating a holistic digital ecosystem.
A Strategic Shift in Economic Thinking
The GCC Policy 2024 signals a strategic pivot in Uttar Pradesh’s economic development agenda—one that places technology, innovation, and global integration at its core. With world-class infrastructure, a proactive government, and a clear policy framework, the state is positioning itself as an emerging global hub for knowledge-based industries.
Importantly, the focus on cities beyond traditional tech centers—such as Kanpur and Varanasi—ensures that economic growth and job creation are geographically inclusive, reaching deeper into the heartland.
Conclusion
As the state aims to become a trillion-dollar economy, the Global Capability Centres Policy 2024 is more than just a business initiative—it is a vision for the future of Uttar Pradesh. By offering unmatched incentives, building innovation capacities, and aligning with global business trends, the policy lays a solid foundation for long-term economic transformation.
Whether you’re a multinational enterprise looking for your next offshore base, a startup searching for support, or a policymaker seeking a replicable model, Uttar Pradesh’s GCC Policy 2024 sets a bold example of how Indian states can embrace the digital era to shape a high-growth, inclusive economy.
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