State unveils GCC policy, aims to generate USD 50 billion economic output by 2029

Bengaluru: The Karnataka Government on Friday launched a draft Global Capacity Centres (GCC) policy with the aim to generate USD 50 billion economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs.

With this, the government has targeted to double global capability centres in the State to 1,000 by 2029, they said.

According to officials, a key highlight of the policy is the establishment of Global Innovation Districts, with three new state-of-the-art technology parks — one in Bengaluru and two in “Beyond Bengaluru” clusters.

These parks will feature cutting-edge infrastructure to foster collaboration between startups, tech leaders, and academia. Anchor investors in these districts will receive special incentives, with mega projects eligible for customised packages, they said.

“To support AI research, the government will establish a Centre of Excellence (CoE) for AI in Bengaluru, operating through a hub-and-spoke model across academic institutions. An AI Skilling Council with industry participation will also be launched, with the government funding curriculum development,” an official statement said.