The Karnataka government's pioneering announcement of a dedicated Global Capability Center (GCC) policy, a first-of-its-kind initiative at the state level, is a highly commendable development.
Karnataka's thriving IT ecosystem, characterized by the presence of numerous prominent GCCs, has significantly contributed to the state's overall office real estate landscape. Bengaluru's dominance in the GCC sector is attributable to its exceptional talent pool, robust technological infrastructure, and dynamic start-up culture.
With a staggering two million-strong tech workforce, the city has firmly established itself as India's undisputed technology capital. Bengaluru accounts for over 40% of the country's total GCCs. The new policy, coupled with strategic interventions, is poised to strengthen the GCC ecosystem further, thereby attracting both occupiers and investors to the state.
Moreover, this policy can potentially create opportunities beyond Bengaluru, accelerating development in other regions of Karnataka. The policy announcement aligns favorably with the prevailing growth momentum and will foster a resilient ecosystem that seamlessly integrates real estate and talent.
