Two firms to set up Global Capability Centres in Indore

Indore: The state's cost-effectiveness and an expanding pool of proficient talent have made it an appealing destination for multinational corporations contemplating investment in information technology (IT) sector. The state has garnered Rs 700 crore investment dedicated to Global Capability Centres (GCCs) and an additional Rs 5000 crore in foreign direct investment (FDI).

Two enterprises have announced intentions to establish GCCs in Indore, pledging to generate approximately 40,500 new employment opportunities in the region.

We are spearheading a transformative investment of Rs 5,500 crore in GCCs in Madhya Pradesh. This strategic deployment, encompassing Rs 500 crore in capital and Rs 5000 crore in foreign direct investment will catalyse the creation of advanced digital ecosystems. The cost of living and conducting business in Madhya Pradesh is lower compared to major metropolitan areas. Additionally, the state possesses a substantial young population with an expanding pool of skilled workforce besides the state is investing in developing infrastructure such as roads, power, and water supply which makes it an ideal fit for establishing GCC," said Tholons CEO and chairman Avinash Vashistha.

In an endeavour to attract further investment, the Madhya Pradesh govt has introduced GCC policy, offering a 40% subsidy on capital investments for establishing centres. Furthermore, the govt will provide assistance in areas such as skills development, marketing, intellectual property (IP) creation, and travel assistance.

President and chief innovation officer at Tholons, Ankita Vashistha said, "We were able to visit the tech park, super corridor, the proposed tech park near IIM Indore, ready office spaces available in city and super corridor plus the land available to us for immediate allocation and construction. We are keen to schedule another site visits at mutual earliest convenience.

"We were exploring options in tier 2 and 3 cities and the tailor-made policy by the Madhya Pradesh govt attracted our interest. Indore is a promising city which has a substantial pool of growing talent due to the presence of IIT, IIM and several engineering colleges. The cost effectiveness of the location is an added advantage to the city," said Nathani who is planning to establish GCC at Super Corridor in Indore for multinational companies predominantly dealing in healthcare, fintech, logistics and media and entertainment.

Source: https://timesofindia.indiatimes.com/city/indore/two-firms-to-set-up-global-capability-centres-in-indore/articleshow/118742538.cms