Uttar Pradesh’s Global Capability Centers (GCC) Policy 2024 is poised to play a transformative role in pitching the state on the global business map.
With a strategic focus on attracting Fortune 500 companies and Foreign Direct Investment (FDI), the policy aims to position cities like Noida, Lucknow, Kanpur and Varanasi as thriving hubs for technology and digital services.
The policy outlines an ambitious plan to generate over 200,000 high-paying jobs over the next five years.
Special incentives will be offered to attract investment from top global corporations.
It will not only accelerate UP’s economic growth but also open doors to a wide array of opportunities for the state’s youth.
With this initiative, the Yogi Adityanath government’s resolve to make UP a $trillion economy will also be strengthened.
The policy lays out clear rules for setting up Level-1 and Advanced GCCs.
For Level-1 GCCs, companies must invest at least Rs 15 crore or employ 500 people outside Gautam Buddha Nagar and Ghaziabad districts in the National Capital Region (NCR).
In these two districts, the minimum investment is Rs 20 crore.
Advanced GCCs require an investment of Rs 50 crore (outside G B Nagar/Ghaziabad) or Rs 75 crore (within these districts), along with 1,000 employees.
This ensures equal opportunities for both small and large investors.
The Yogi government has introduced generous incentives to win the confidence of investors.
These include 30-50% subsidy on land cost, 100% stamp duty exemption, 25% capital subsidy (up to Rs 10 crore for Level-1 and Rs 25 crore for Advanced GCCs), SGST reimbursement, 5% interest subsidy, and 20% operational subsidy (up to Rs 40 crore for Level-1 and Rs 80 crore for Advanced GCCs).
Companies can also receive payroll support of up to Rs 1.8 lakh per employee. These benefits will reduce setup costs and encourage investment in the state.
Customised incentive packages will be offered to GCCs set up by Fortune Global 500 or India 500 companies, as well as those with FDI of over Rs 100 crore.
This is part of the government’s strategy to attract top global companies to UP.
The policy also supports innovation and startups.
It includes 50% cost reimbursement for startup ideation (up to Rs 2 crore), an Intellectual Property Rights (IPR) subsidy of Rs 5–10 lakh for patents, and grants of up to Rs 10 crore for setting up Centers of Excellence.
“These measures aim to make UP a hub for technological innovation,” a senior official noted.