Mumbai, Sep 30 (IANS) The Maharashtra Cabinet chaired by Chief Minister Devendra Fadnavis on Tuesday approved the Global Capability Centre (GCC) policy to establish the state as a leading hub of GCCs in the country leveraging its diverse industrial base, financial leadership and technological expertise. The policy proposes to establish 400 new GCCs, create four lakh high skilled jobs by integrating industry driven curricula, fostering cutting edge research, and equipping the workforce with advanced digital and technical skills. It aims to promote GCC-led research, foster multinational collaborations, attract high value and knowledge intensive investments, develop world class business districts and a robust digital data bank.

The policy aims to propel 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. The policy will remain in effect for five years (Financial Year 2029-30) from the date of notification or until the next policy comes into effect. The state government plans to set up dedicated GCC parks equipped with future ready infrastructure, walk to work design and plug and play offices. The state government will promote cluster development, especially specialised GCC units, within flagship initiatives such as Innovation City and Maharashtra Global Med Zone.

The state government proposes to provide one time capital subsidy of Rs 10 crore for small units with investment of Rs 50 crore, Rs 20 crore for medium units with investment of Rs 100 to 250 crore, and Rs 50 crore for large units with investment of Rs 250 to 300 crore. The interest subsidy of Rs 25 crore per unit will be given for five years and power tariff subsidy of Rs 20 lakh per unit per annum for five years, pay roll subsidy up to Rs 50,000 for three years for 100 employees per GCC and stamp duty exemption for one time. In addition, the state government will provide exemption in electricity duty.

The state government proposes to give reimbursement towards rent, green certification, patent filing and research and development grants. The government will provide non-fiscal incentives to facilitate GCC establishment, including industry status, additional floor space index with premium concessions, critical infrastructure fund, zoning relaxation, single window clearance, approvals for right of way, open access and property to related freebies.

According to the policy, the state government will establish Maharashtra GCC Growth Council, which will serve as a combined think-tank and advisory group, ensuring the policy remains aligned with regional economic priorities, global business trends and industry specific workforce requirements. To ensure effective execution, one per cent of the overall policy budget of Rs 10 crore per year whichever is lower, will be earmarked for policy promotion, capacity building, stakeholder outreach and impact monitoring.