logo
Telangana mulls policy for GCCs to attract more firms, make process easier

Telangana mulls policy for GCCs to attract more firms, make process easier

The Hindu19-07-2025
A policy for global capability centres (GCCs) that will seek to consolidate on Hyderabad's emergence as a GCC hub, make the process for investors setting up such facilities easier and attract more companies is on the anvil in Telangana.
'Going forward, the Telangana government is planning to introduce a custom GCC policy,' the Chief Minister's office said, announcing that in the first six months of 2025 Hyderabad attracted as many as 27 GCCs. The city continues to attract mid-market companies as a category and US-based, European, Japanese and South Korean companies. McDonalds, Vanguard, Citizens Bank, Heineken, BarryCalebaut, DAZN and Dai-ichi are some of the firms that have established GCC this year in Hyderabad.
The CMO spoke of the potential to attract more GCCs with the proposed policy while also highlighting how the State government's emphasis on the China Plus One strategy of global firms is helping attract new players across industries. The China Plus One strategy essentially pertains to a geographical diversification global firms with manufacturing operations in China have set out on and for which they are evaluating India and a few other countries in Asia to locate the new facilities.
Chief Minister A. Revanth Reddy had been pointing out in his addresses at industries events on how the favourable, stable government policies, strong ecosystem and a legacy of development have contributed to Hyderabad's emergence as a preferred destination of companies. Hyderabad is not competing with other States but other countries, he had declared during the opening of new facilities of many companies in recent times.
Preferred by GCCs
Hyderabad has become a preferred destination for MNCs expanding their GCC operations. The city is home to more than 355 GCCs, a majority of them of US-based firms. As many as 70 new GCCs were setup in 2024 and Telangana continues to welcome more in 2025, across multiple areas, including risk management, cybersecurity, machine learning, supply chain management, cloud computing and AI/ML Research, the CMO said.
Telangana has been figuring consistently among top 3 States in Ease of Doing Business rankings in India. Some of the contributing factors for Hyderabad includes its infrastructure, skilled labour, low cost of living and favourable policies that have helped attract technology, manufacturing, financial services and pharmaceutical firms. The proposed Regional Ring Road (RRR), planned to encompass the existing Outer Ring Road (ORR), is set to expand the investment horizons of Hyderabad with greater connectivity to the international airport. The CMO said during the visit of Chief Minister Revanth Reddy to the World Economic Forum (WEF) earlier this year, the Telangana delegation met with more than 40 global corporate leaders, attracting projects entailing ₹1.78 lakh crore .
More sectoral policies
Approvals for new industrial projects are issued through a single-window clearance system, based on self-certification, in less than 15 days. In addition to the GCC policy, the State government will soon launch sectoral policies on electric vehicles, Life Sciences, AVGC and Semiconductors, the CMO said.
IT industry body Nasscom in a report last year said multiple factors are contributing to emergence of Telangana as a preferred GCC destination, including single window clearances for State registrations, licenses and approvals for new GCCs.
Sustain focus
In its recommendation, Nasscom said the State government should sustain infrastructure investment, focus on Deeptech and high-end skills development and target attracting more than 500 GCCs by 2030 by conducting global roadshows and project Telangana as Unicorn GCC Hub.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

From Jan Dhan accounts to mutual fund SIPs, here is how you can empower your domestic staff financially
From Jan Dhan accounts to mutual fund SIPs, here is how you can empower your domestic staff financially

Time of India

time2 minutes ago

  • Time of India

From Jan Dhan accounts to mutual fund SIPs, here is how you can empower your domestic staff financially

For 48-year-old Kakoli Chowdhury, charity literally began at home. Watching her mother help their domestic staffers and sponsor their kids' education imbibed in her an innate need to do the same. Little wonder then that Chowdhury is currently paying Rs.16,000 a month as coaching fee for her helper, Uma Maitri's son, who is in Class 12. This is only one of the many initiatives she has undertaken over the years to empower her household staffers, contributing and encouraging them to start savings and investments . Many others like Chowdhury have been stewarding a silent, overt crusade to support this economically vulnerable segment—maids, cooks, drivers, nannies—who help in the smooth running of households, but remain bereft of financial safety nets. The National Sample Survey Office (2011-12) has pegged the number of domestic workers in India at 3.9 million, with 2.6 million women, while the International Labour Organisation estimates this number to be much higher at around 20-80 million. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Artificial Intelligence Data Science Leadership CXO Degree Others Public Policy Digital Marketing MBA Product Management Cybersecurity Technology PGDM Data Science Finance Healthcare Operations Management Design Thinking Management others healthcare Data Analytics MCA Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details This unorganised and marginalised sector has had few financial rights or economic security, with little or no long-term savings and funds to educate their children or retire in old age, no health insurance for medical needs or life insurance, and meagre knowledge about investing avenues. Women helpers are in a worse situation, many of them working as single mothers and sole bread winners. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » While several government schemes, including those for life and health insurance, pension , affordable housing, etc., have been launched in the past few years to improve the financial security for this segment, not many domestic workers are aware of or know how to benefit from these (see table). 'There are thousands of welfare schemes that they don't know about. This is why, be it schemes or investing, it's important to first educate the households and employers, who can then help their domestic helpers,' says Roopa Venkatkrishnan, Director, Sapient Wealth, a Mumbai-based financial advisory and distribution firm. Venkatkrishnan has been walking the talk since 2004 by holding financial literacy sessions for both the households and domestic staffers. Going a step further is Bengaluru-based Haqdarshak ( a for-profit social enterprise, which helps low-income segments access government welfare schemes. It claims a digital database of over 7,500 state and central welfare programs—health and life insurance, disability pension, education subsidies, housing subsidies, among others—and offers a 'Yojana Card' that can tell the worker about the schemes he is eligible for. It could help your helpers if you can inform them about it. Apprising them of the government welfare schemes is not the only way you can help your domestic staffers. They need assistance on every front: identifying saving and investing options for their kids' education and medical needs, tech-enablement, budgeting advice, career guidance, and saving up for their old age. 'You don't necessarily need to become their financial adviser, but guidance in navigating the formal financial systems, hand-holding and helping them with forms or digital onboarding, explaining terms, or demonstrating digital tools can also lead to a tremendous improvement in their financial stability and well-being,' says Atul Shinghal, Founder and CEO, Scripbox. Mumbai-based Namrata Vishal Lodaya knows about hand-holding, having helped all her three maids and two cooks with financial advice on career, investment, entrepreneurship, savings and much more. 'I taught business skills to Varsha tai to help open her beauty parlour and offered Pushpa tai's daughter career guidance in fashion designing,' says the 40-year-old. Here are some areas you can also help the people who make a critical contribution in ensuring that your lives run smoothly. Savings & investments As a first step, if your helpers don't have a bank account yet, help them open one under the Pradhan Mantri Jan Dhan Yojana. There is no minimum balance to be maintained and account holders get a RuPay debit card. They also get a Rs.2 lakh accident insurance with RuPay card, an overdraft facility up to Rs.10,000, and eligibility for various government schemes with the account. Rashida, 40 Chawla pays an annual premium of Rs.12,617 for a Rs.4 lakh family floater health plan for Rashida and her two children. Shikha Chawla (right) 42, Noida Next, prompt them into investing their money instead of keeping it in bank. You could start them on simple instruments that are easy to understand, such as a recurring deposit, fixed deposit, Post Office term deposit or even the Public Provident Fund (PPF) (see table). For women, a good option is the Mahila Samman Savings Certificate, and for their girl children, the Sukanya Samriddhi Yojana, both of which offer high interest rates. While Lodaya helped her maid, Priya, 39, open a bank account and fixed deposit, Chowdhury went a step ahead. She started a recurring deposit and Sukanya Samriddhi account by contributing Rs.10,000 for each account for her maid, Ram Dulari, and her daughter, in 2012. She also took other helpers to the post office to invest in Kisan Vikas Patra (KVP) and National Savings Certificates (NSC). 'I always felt they should save more by investing in instruments that offer a higher interest rate, instead of keeping the money in bank,' says the Delhibased IT professional. Investment options for your domestic helpers Venkatkrishnan even advocates mutual fund SIPs for long-term savings and high returns. 'I tell them that they can invest in mutual funds with as low a sum as Rs.100 or Rs.500 and get high returns over the long term,' she says. 'Another important thing is to tell them to keep away from chit funds and move to formal investing options like FDs. Insurance companies have also made deep inroads and sell plans pitching high returns, but they need to move to better forms of investing,' says Mrin Agarwal, Founder, Finsafe India. Agrees Venkatkrishnan: 'People lose money through Ponzi schemes, insurance plans and chit funds and should know about it.' Buying insurance Another financial pitfall for this segment is medical and hospitalisation expenses . 'Most families with limited means try to secure food, shelter and education, but forget about emergency health fund. During an illness, they are forced to look around, desperate for help from employers, friends, anyone,' says Noida-based Communication Consultant Shikha Chawla. She bought a family floater health insurance plan worth Rs.4 lakh for Rashida and her two children in 2018. She continues to pay the annual premium of Rs.12,617 even though Rashida no longer works for them. A good option is the government scheme, Ayushman Bharat or the Pradhan Mantri Jan Arogya Yojana, which offers a Rs.5 lakh cover per family for secondary and tertiary care hospitalisation. 'I also tell them and their employers to register with hospitals with their ration cards so that they can get free treatment,' says Venkatkrishnan. For life insurance, you can help them buy the Pradhan Mantri Jeevan Jyoti Bima Yojana as it can secure their children in case of the helpers' untimely death. For 18-50 age group with a bank account, it offers a life cover of Rs.2 lakh and the annual premium is `436, which is auto-debited from the bank account. The scheme is offered by the Life Insurance Corporation and other life insurers that provide it on similar terms. Financial & tech literacy One of the most important contributions you can make in your helpers' lives is by teaching them the basics of finance and making them tech-literate. 'Guide them in using UPI apps like Google Pay or PhonePe. This drastically simplifies transactions, bill payments and transfers, reducing reliance on cash,' says Shinghal. Also teach them about basic concepts like household budgeting, long-term investments, covering risk through insurance, taking loans, or even starting their own small businesses. Help them with documen-tation and online access to welfare schemes. Lodaya has mastered the art of leading by example when it comes to upskilling her helpers. 'I talk to them about how I manage my finances or use technology and then they follow suit. For instance, when I needed to raise funds for my husband's medical expenses, I used Ketto, and when Priya ben's husband fell ill later, she managed to raise Rs.55,000-60,000 by doing the same,' says Lodaya. Pension & loans While saving for retirement may seem difficult for helpers trying to survive from month to month , the government Atal Pension Yojana is a good vehicle that is open to all savings bank/post office savings bank account holders in the 18-40 age group. It offers a guaranteed minimum monthly pension of Rs.1,000-5,000 to the subscriber after 60 years, and after him to his spouse. When it comes to taking loans, try and desist your helpers from taking informal, unsecured loans with high interest rates. Steer them towards formal bank loans. 'I tell the employers to give their helpers salaries via cheques, so that they can show income and file their tax returns. This is because with three years of returns they can avail of home loans easily,' says Venkatkrishnan. If loans are not feasible for them, help them out with personal contributions, say, for their children's education, weddings, etc.

Days after ED raid, Anil Ambani's BIG move, hundreds of senior leaders of Reliance Infra, Reliance Power hold meetings, plan next phase of…, focus on…
Days after ED raid, Anil Ambani's BIG move, hundreds of senior leaders of Reliance Infra, Reliance Power hold meetings, plan next phase of…, focus on…

India.com

time2 minutes ago

  • India.com

Days after ED raid, Anil Ambani's BIG move, hundreds of senior leaders of Reliance Infra, Reliance Power hold meetings, plan next phase of…, focus on…

Anil Ambani (File) Anil Ambani's Reliance Group announced on Sunday that it will focus on the defence, power, and clean energy sectors to drive its next phase of growth, with focus on innovation and value creation. The announcement came on the same day the Enforcement Directorate concluded searches at locations linked to the group as part of a probe into alleged money laundering and misappropriation of public funds. After this backdrop, over 100 senior leaders from its two listed entities Reliance Infrastructure and Reliance Power gathered in Mumbai to reaffirm their commitment to the group's ambitious growth strategy. Anil Ambani Group Responds On ED Raids 'After the unanimous approval by the Board of Directors of Reliance Infrastructure and Reliance Power, just a week ago by both boards to raise Rs 18,000 crore by way of equity and debt to fund growth across defence and aerospace and renewable energy sectors, the meeting reflected unity of purpose, renewed vigour and a shared resolve to deliver long-term value for stakeholders,' the group said in a press statement. The two listed firms in separate statements earlier in the day stated that the action by ED has concluded and that the company and its officials have fully cooperated with the authority. 'Action by ED has no impact on business operations, financial performance, shareholders, employees, or any other stakeholders of the company,' they said. In the statement on the leadership meeting, the group said its two listed companies — Reliance Infrastructure and Reliance Power — are 'nearly debt-free, have net worths of Rs 14,883 crore and Rs 16,431 crore, respectively, and have 50 lakh public shareholders, one of India's largest shareholder family.' The leadership meeting, it said, spotlighted high-growth verticals driving the group's future strategy. Reliance Infrastructure & Reliance Power Future Plans Reliance Infrastructure's focus will be on defence and aerospace, which includes plans to manufacture Falcon 2000 business executive jets in India for global markets in partnership with Dassault Aviation of France, strategic partnership with US-based Coastal Mechanics to establish MRO and overhaul hub in Maharashtra, partnership with defence manufacturer Rheinmetall AG of Germany, and strengthening strategic partnership with Diehl Defence of Germany for guided munition/terminally guided munition (TGM). The 'aim (is) to rank among India's top three defence exporters — strong commitment to the Indian defence markets and 'Make in India' and 'Atmanirbhar' initiative of the Government of India,' it said. In the power business, its electricity distribution utility BSES that services more than 53 lakh households, covering two-thirds population in Delhi, will focus on continued excellence in smart, sustainable power delivery and sourcing clean green energy for Delhi in the next five years. Reliance Power is focused on an operating portfolio of 5.3 GW. It has secured renewable energy projects of 3.3 GWh of solar and battery energy storage system (BESS) projects, Asia's largest solar-plus-storage project. 'Pursue your goals even in the face of difficulties, and convert adversities into opportunities — the spirit of the group's legendary and visionary founder, Padma Vibhushan late Shri Dhirubhai H Ambani, resonated throughout the discussion,' the statement added. While Reliance Infrastructure also has interests in defence manufacturing and plays a key role in infrastructure development through special purpose vehicles (SPVs), including projects like the Mumbai Metro, Reliance Power has a total installed capacity of 5,305 MW, including the 4,000 MW ultra mega power project in Sasan, Madhya Pradesh. (With Inputs From PTI)

The Tea app was intended to help women date safely. Then it got hacked
The Tea app was intended to help women date safely. Then it got hacked

The Hindu

time2 minutes ago

  • The Hindu

The Tea app was intended to help women date safely. Then it got hacked

Tea, a provocative dating app designed to let women anonymously ask or warn each other about men they'd encountered, rocketed to the top spot on the U.S. Apple App Store this week. On Friday, the company behind the app confirmed it had been hacked: Thousands of images, including selfies, were leaked online. 'We have engaged third-party cybersecurity experts and are working around the clock to secure our systems,' San Francisco-based Tea Dating Advice Inc. said in a statement. 404 Media, which earlier reported the breach, said it was 4Chan users who discovered an exposed database that 'allowed anyone to access the material' from Tea. The app and the breach highlight the fraught nature of seeking romance in the age of social media. Tea founder Sean Cook, a software engineer who previously worked at Salesforce and Shutterfly, says on the app's website that he founded the company in 2022 after witnessing his own mother's 'terrifying'' experiences. Cook said they included unknowingly dating men with criminal records and being 'catfished'' — deceived by men using false identities. Tea markets itself as a safe way for women to anonymously vet men they might meet on dating apps such as Tinder or Bumble — ensuring that the men are who they say they are, not criminals and not already married or in a relationship. "It's like people have their own little Yelp pages,'' said Aaron Minc, whose Cleveland firm, Minc Law, specialises in cases involving online defamation and harassment. In an Apple Store review, one woman wrote that she used a Tea search to investigate a man she'd begun talking to and discovered 'over 20 red flags, including serious allegations like assault and recording women without their consent.'' She said she cut off communication. 'I can't imagine how things could've gone had I not known," she wrote. A surge in social media attention over the past week pushed Tea to the No. 1 spot on Apple's U.S. App Store as of July 24, according to Sensor Tower, a research firm. In the seven days from July 17-23, Tea downloads shot up 525% compared to the week before. Tea said in an Instagram post that it had reached 4 million users. A female columnist for The Times of London newspaper, who signed into the app, on Thursday called Tea a 'man-shaming site'' and complained that 'this is simply vigilante justice, entirely reliant on the scruples of anonymous women. With Tea on the scene, what man would ever dare date a woman again?'' 'Over the last couple of weeks, we've gotten hundreds of calls on it. It's blown up,' attorney Minc said. "People are upset. They're getting named. They're getting shamed.'' In 1996, Congress passed legislation protecting websites and apps from liability for things posted by their users. But the users can be sued for spreading 'false and defamatory'' information, Minc said. In May, however, a federal judge in Illinois threw out an invasion-of-privacy lawsuit by a man who'd been criticised by women in the Facebook chat group 'Are We Dating the Same Guy,″ Bloomberg Law reported. State privacy laws could offer another avenue for bringing legal action against someone who posted your photograph or other personal information in a harmful way, Minc said. In its statement, Tea reported that about 72,000 images were leaked online, including 13,000 images of selfies or photo identification that users submitted during account verification. Another 59,000 images that were publicly viewable in the app from posts, comments and direct messages were also accessed, according to the company's statement. No email addresses or phone numbers were exposed, the company said, and the breach only affects users who signed up before February 2024. 'At this time, there is no evidence to suggest that additional user data was affected. Protecting tea users' privacy and data is our highest priority,' Tea said. It said users did not need to change their passwords or delete their accounts. "All data has been secured.'' Lawyer Minc said he was not surprised to see Tea get targeted. 'These sites get attacked,'' he said. 'They create enemies. They put targets on themselves where people want to go after them.''

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store