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The policy is designed and expected to attract an investment of over ₹10,000 crore over the next five years, aiming to strengthening the state’s role in global business ecosystem.
GCCs serve as key operational units for multinational companies offering specialised services such as IT, finanace, human resources and strategic management.
Speaking at the policy launch in GIFT City, Gandhinagar, CM Patel reiterated his administration’s commitment to fostering innovation and accelerating digital transformation.
“This policy is structured to make Gujarat the preferred destination for GCCs by offering a range of financial incentives, including interest subsidies and electricity duty reimbursements,” Patel said.
Financial Incentives and Support
The policy outlines ambitious targets seeking to attract 250 new GCC units, generate 50,000 jobs and drive substantial corporate investments. To achieve these goals, it offers incentives such as capital expenditure (capex) support and operational expenditure (opex) support.
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Under capex support, companies with a gross fixed capital investment (GFCI) of less than ₹250 crore can avail themselves of financial support of up to ₹50 crore. For those exceeding this threshold, assistance of up to ₹200 crore is available.
Under opex support, units with a GFCI below ₹250 crore are eligible for up to ₹20 crore, while those investing more than ₹250 crore can claim up to ₹40 crore in operational expenditure support.
Employment Growth
The policy focusses on employment generation. Firms hiring and retaining local employees for a minimum of one year will receive a one-time subsidy covering 50% of an employee’s one-month cost to company (CTC). This includes up to ₹50,000 and ₹60,000 for male and female employees, respectively, to encourage greater workforce participation.
Moreover, to support long-term employment, the policy provides reimbursements of the employer’s statutory contribution to the Employees’ Provident Fund (EPF)—100% reimbursement for female employees and 75% for male employees for five years.
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Additional Benefits
The Gujarat GCC policy also offers an interest subsidy of 7% on term loans, capped at ₹1 crore annually for five years. Furthermore, the eligible units will enjoy a 100% exemption from electricity duty for the same duration.
With these incentives, the state government aims to positioning Gujarat as an attractive destination for global corporations looking to enhance their operational capabilities, drive innovations and establish a presence in India’s evolving economic landscape.
(With PTI inputs)