Madhya Pradesh has made a significant move in India’s economic framework by unveiling the nation’s first dedicated Global Capability Centers (GCC) Policy 2025. This initiative seeks to attract multinational companies by developing a strong ecosystem for global innovation and collaboration, particularly in Tier-2 cities like Indore, Bhopal, and Jabalpur. With a focus on creating a business-friendly environment, providing financial incentives, and enhancing infrastructure, the state intends to become a preferred hub for GCCs.
How Will Madhya Pradesh’s GCC Policy Benefit Tier-2 Cities?
The new GCC policy aims to redirect attention from major metropolitan areas to up-and-coming urban centers, facilitating the transformation of Tier-2 cities into global operational hubs. Indore, Bhopal, and Jabalpur are expected to benefit significantly, as they will receive Tier-1 level infrastructure to attract multinational corporations. Chief Minister Dr. Mohan Yadav has assured investors that the state will provide top-notch facilities to make these cities appealing for business expansion.
What Incentives Does the Madhya Pradesh GCC Policy Offer?
To encourage investment, the policy provides multiple benefits, including:
- Financial Support: Companies setting up GCCs in Madhya Pradesh can avail up to 40% capital subsidy, with a maximum cap of ₹30 crore. Additional support includes rent assistance and payroll subsidies.
- Innovation and R&D Support: The state has allocated additional funding for upskilling, marketing, patent filing, and research and development activities, ensuring that businesses can innovate and compete globally.
- Ease of Doing Business: To simplify investments, the state has introduced a “No Query Portal”, a single-window clearance system that ensures a smooth and hassle-free process for businesses.
