- within Employment and HR, Family and Matrimonial, Media, Telecoms, IT and Entertainment topic(s)
- in India
The Policy, which has received the Maharashtra Cabinet clearance, primarily focuses on:
- Establishing Maharashtra as the premier global destination for GCCs by hosting about 400 new GCCs.
- Creating 4 lakh high-skilled jobs by integrating industry-driven curricula, fostering cutting-edge research, and equipping the workforce with advanced digital and technical skills.
- Promoting GCC-led research, fostering multinational collaborations, and attracting high-value, knowledge-intensive investments.
- Developing world-class business districts and a robust Digital Databank to map talent, resources, and connectivity, helping new GCCs identify optimal locations.
- Propelling Tier-2 and Tier-3 cities such as Nashik, Nagpur, and Chhatrapati Sambhajinagar into the global GCC landscape, creating new economic hubs and fostering balanced, technology-driven growth.
Further, the Policy seeks to promote priority sectors like Aerospace and Defense, Agro and Food Processing, Gems and Jewelry, Logistics, Metals and Mining, Pharmaceuticals and Chemicals, Renewable and Green Energy, Textiles and Apparel, IT/ITES, and Automotive by fostering specialized GCC clusters.
The Policy extends the following fiscal and non-fiscal incentives to the GCC units. It may be pertinent to note that the fiscal incentives would be provided on Fixed Capital Investment (FCI) subject to specified eligibility conditions.
| Fiscal Incentives (Zone based) | Non-Fiscal Incentives |
|---|---|
| Capital Subsidy or Rental Assistance | Industry Status |
| Payroll Subsidy | Additional FSI |
| Interest Subsidy | Open Access |
| Incentives for Incremental Investment | Right of Way |
| Patent Filing Assistance | Zoning Relaxation |
| Green Certification Assistance | Reserved MIDC Land |
| Power Tariff Subsidy | Priority Allotment |
| Electricity Duty Exemption | Ease of Doing Business |
| Research & Development Grants | Digital Data Repository |
| Internship Program under CMYKPY | Power Supply |
| Stamp Duty Exemption | Uninterrupted Water Supply |
| Property Tax | 24x7 Operations |
| Flexible Employment Conditions |
To promote the growth of GCCs, the Maharashtra Government has proposed to develop dedicated GCC Parks which will provide flexible leasing models, plug-and-play office spaces, and collaborative workspaces tailored to knowledge-driven industries.
In addition, to harness the opportunities of Artificial Intelligence (AI), FinTech, MedTech, LegalTech, ClimateTech, Blockchain, Digital Gaming, Cybersecurity, and related domains, the State proposes to establish tech-enabled innovation clusters such as Innovation City and the Maharashtra Global MedTech Zone (MGMTZ).
Our Comments
Following states like Uttar Pradesh, Gujarat, Kerala, Karnataka, and Andhra Pradesh, the Maharashtra Government aims to leverage its strengths and extend the growth footprint beyond Mumbai and Pune to emerging Tier 2 and Tier 3 cities.
Considering the fiscal and non-fiscal incentives sought to be extended by the Government coupled with the pool of skilled talent and the structured eco-system available in the State, the Policy presents a lucrative opportunity for MNCs and global businesses to set up or expand their presence in India.
However, it is imperative to note that for the purposes of this Policy, BPO units, Call Centers serving self or third-party clients, and pure play sales entities engaged in marketing, distribution, or sale of products, customized software or tools in India or neighboring regions, have been specifically excluded from the scope of GCCs. The rationale for such exclusion could be to promote more strategic, core business functions, innovation, and intellectual property creation for Parent/Group entities instead of undertaking non-core, repetitive and transactional tasks. However, we may expect more clarity/changes pursuant to trade representations in the coming months.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
