The Uttar Pradesh Cabinet, led by Chief Minister Yogi Adityanath, has given the green light to the Standard Operating Procedure-2025 (SOP) for the effective implementation of the Uttar Pradesh Global Capability Centre Policy-2024. This decision aims to boost global investments, advanced services, and significant job creation in the state. Invest UP has been assigned the role of the nodal agency to supervise the policy’s implementation.
Industrial Development Minister Nand Gopal Gupta Nandi emphasized the state’s improving investment environment, noting active interest from various industrial houses and multinational companies for potential investments. The GCC policy has already attracted 21 companies to initiate investments in global capability centers this fiscal year. These centers, established by Indian or foreign companies, will focus on strategic functions such as IT, research and development, finance, HR, design, engineering, analytics, and knowledge services.
The SOP introduces a comprehensive framework of financial incentives to attract GCC units, including land subsidies, stamp duty exemptions, capital subsidies, interest subsidies, operating expense subsidies, payroll and recruitment subsidies, EPF contribution reimbursements, talent development incentives, research support, and special incentives on a case-by-case basis. Additionally, the units will receive technical support, industry connections, regulatory guidance, expedited application processing, and simplified approval and disbursement processes.
The decision by the Uttar Pradesh government, led by CM Yogi Adityanath, is seen as a significant step towards establishing the state as a key global services hub. The successful implementation of the GCC policy is expected to draw high-skill investments to Uttar Pradesh, creating new employment opportunities for the youth.
