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Time of India
5 hours ago
- Business
- Time of India
Biz honchos keen to set up global capability centres in UP
1 2 3 Lucknow: Business and industry heads reiterated their faith in UP's potential to become a hub of global capability centres at the GCC conclave organised by Invest UP here on Tuesday, officials said. The pluses include a 56% population in the working age group, low cost of living averaging around Rs 28,000 per month, fast-track approvals, single-window clearances guaranteeing ease of doing business, presence of over 20 incubators with 300 plus registered start-ups, real estate and talent cost being 14-45% lower than the metros. "The company's expansion from Hyderabad to Noida is a testament to our faith in UP. Also, the seamless support from the govt in terms of approvals, land allocation and subsidies is a testimony of the state's commitment towards embracing development," said Varun Ramanan, lead for strategy and operations, Microsoft India. Regional head (North) NASSCOM, Amit Verma said: "The GCC ecosystem is adequately backed by policies and talent development efforts." Principal consultant and centre head, TCS Lucknow, Amitabh Tiwari acknowledged the state's support in facilitating operations, praising UP's advancing infrastructure, skilled talent and improving urban ecosystem. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Capital Gains Exemptions for Seniors SmartAsset Learn More Undo Meanwhile, board member of Trident Group, Nirmaljeet Singh Kalsi shared his company's plan to establish a GCC in Noida and said that the decision further underscores UP's commitment to becoming the most preferred destination by providing all necessary facilities and infrastructure for industries and the IT/ITeS sector. Elaborating on UP's potential at the inaugural, principal secretary, infrastructure and industrial development department, UP, Alok Kumar said: "The idea of Viksit Bharat is only possible through a Viksit State." UP, he said, is committed to fostering innovation, expanding its global presence and creating a thriving business environment for future investments. Highlighting UP's extensive infrastructure, skilled workforce and investor-friendly policies, he underscored the state's demographic strength, cost advantage and ease of doing business, making it a preferred destination for industries. Principal secretary, IT and electronics, UP, Anurag Yadav listed out the highlights of UP's progressive policies and expanding digital infrastructure, underscoring vast investment opportunities in IT/ITeS and BPM. Likewise, principal secretary, housing department, P Guruprasad spoke about relaxations proposed in the upcoming building bylaws in the state, while principal secretary FSDA, Ranjan Kumar laid out the opportunities in the area of pharma. Vice-chairman of Lucknow Development Authority, Prathamesh Kumar invited investors to explore Lucknow, highlighting its rising commercial space conversion trends and IT City expansion. The conclave also had focused discussions in areas like real estate and commercial space, including CREDAI and building bylaws, availability of a skilled talent pool supported by quality colleges and technical institutes, the overall ecosystem, and creditable improvement in infrastructure across the state. The conclave also featured panel discussions and investor interactions, reaffirming UP's commitment to fostering innovation, business excellence and global investments in GCCs, officials said. Some 20 companies, including SRK Gamechangers, Standard Chartered Bank, Tata Consultancy Services, Trident and HCL, also attended the conclave.
Indian Express
a day ago
- Business
- Indian Express
Eye on creating skilled workforce, UP to project itself as hub for Global Capability Centres
UTTAR PRADESH is looking to project itself as a future hub for Global Capability Centres (GCC) in the country, officials said on Monday, adding that a conclave on the topic would be organised in Lucknow on Tuesday. As part of this strategy, it is planning to offer subsidies, reduced operation costs as well as skilled manpower, especially in the technology sector, government officials said. Having introduced the GCC policy in the state Cabinet meeting last month, the conclave is aimed at facilitating dialogue with the industry, including several multinational companies, and showcasing to them the incentives offered by the state and presenting UP as a future destination for 'global in-house Centres', apart from off-shore delivery units with easy availability of skilled manpower in IT, digital engineering, financial services etc. At present, Uttar Pradesh has 8,375 higher education institutes. The state also has nearly 1.25 lakh polytechnic seats, where skilled students pass-out from every year. Officials said the idea is to connect the need and requirement of the industry with the availability of skilled manpower, aiming to bring employment to the state and at the same time offering cost effective set-up for the companies. Terming the conclave as a 'strategic' initiative by the government to create 'future ready services eco-system', officials said the idea is to promote the state's capability to provide services in information technology, engineering and finance as well as research and development. Chief Secretary Manoj Kumar Singh, along with senior officials from industry, IT and electronics departments will highlight the government's initiatives in this regard. The conclave will see participation of several industry captains, including Varun Ramanan of Microsoft India, Rajeev Agarwal, Founder of MAQ Software, Amitabh Tiwari, Principal Consultant and Centre Head at Tata Consultancy Services, Lucknow, as well as Amit Verma , Regional Head (north India), NASSCOM. Sources inform that while Microsoft is in the process of establishing a 10,000 seat centre in Noida, MAQ software has established a 3000-seat engineering centre. To create skilled manpower as required by the industry, Uttar Pradesh, as part of its GCC policy, is offering to cover upto 50 per cent of the internship cost of upto 50 students with a cap of a maximum of Rs 5000 per student monthly, for internship that should last for at least two months. Further The government would also offer Skill Development Subsidy to the companies with a promise to provide 50 per cent of the training or the required course fee i.e. upto Rs 50,000 per employee, which can be availed by the companies upto 500 employees in three years time. Not only this, the government is also offering payroll subsidy, wherein companies would get reimbursement of upto Rs 1.8 lakh a year for employees who are residents of the state. Officials said that the objective is to showcase these incentives before the firms and also engage in dialogue to understand their needs so that amendments can be brought into the policies in future, if needed.
