K'taka unveils GCC policy, aims to generate $50 bn economic output by 2029

The Karnataka Government on Friday launched a draft Global Capacity Centres (GCC) policy with the aim to generate USD 50 billion economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs. According to officials, this policy is designed to enhance investor confidence, promote seamless collaboration with the local innovation ecosystem, and position Karnataka as a global leader in AI research and development. Crafted through extensive industry research and stakeholders consultations, it draws insights from over 500 discussions with experts and industry leaders, they said, adding, the result is a comprehensive framework that sets ambitious goals for growth, incentives, and collaboration. Speaking at the event, Information Technology and Biotechnology Minister Priyank Kharge said: "Today, we proudly launch India's first dedicated policy for Global Capability Centres (GCCs), reaffirming Karnataka's position as the top destination for innovation and business transformation.