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Invest UP recently held a high-profile Global Capability Centres (GCC) conclave in Lucknow, unveiling its GCC Policy-2024 aimed at transforming Uttar Pradesh into a top destination for international GCCs. The one-day event attracted around 20 major firms including Microsoft, TCS, HCL, Standard Chartered Bank, and Trident who committed to expanding operations and new centres. Officials underscored UP's advantages: skilled young workforce, competitive costs (living and business), robust infrastructure and digital ecosystem, and incentive-rich policies. Investment roadmaps were discussed, including future conclaves in Bengaluru, Chennai, and Hyderabad, plus international roadshows to attract global capital.
Invest UP, the premier investment-promotion agency of Uttar Pradesh, convened a GCC conclave in Lucknow this week to launch its new GCC Policy 2024 and reinforce the state's ambition to become a global hub for capability centres. The event brought together industry leaders, global investors, policymakers, and over 20 multinationals among them Microsoft, TCS, HCL, Standard Chartered Bank, Trident, SRK Gamechangers, and Deloitte. Advertisement
Government officials highlighted the state's competitive edge: nearly 56% of the population falls within the working-age bracket; living costs average INR 28,000 monthly; real estate and talent costs run 14-45% lower than metro cities; and a single-window clearance system ensures quick approvals. They also pointed out more than 20 incubators and over 300 registered startups driving UP's growing innovation landscape.
Investors praised the operating framework. Leaders from Microsoft and TCS reported seamless support from the UP government, including expedited land allotments, subsidies, and infrastructure support. They affirmed expansion plans Microsoft has scaled from Hyderabad to Noida, while TCS and Trident intend to establish new GCCs in Noida. NASSCOM's regional head stated that the ecosystem is well backed by policies and talent development initiatives.
Chief Secretary Manoj Kumar Singh stressed that UP's transformation from a secondary to a preferred investment destination has resonated from Delhi to Davos, thanks to proactive governance, strong infrastructure, and competitive incentives. He also highlighted development plans for tier-II and III cities including a Noida?style city in Bundelkhand and industrial hubs in Jhansi.
Principal secretaries from infrastructure, IT & electronics, housing, and pharma outlined upcoming regulatory changes such as relaxations in building bylaws and fresh investment opportunities in IT/ITeS, BPM, real estate, and pharmaceuticals. The conclave further featured deep sessions with CREDAI, developer bodies, and education institutes, all spotlighting the state's growing commercial real estate pipeline and expanding IT City in Lucknow.
Invest-UP's CEO revealed plans for a structured roadmap, including similar conclaves in Bengaluru, Chennai, and Hyderabad, along with international roadshows in partnership with US and European think tanks to catalyse further GCC investment.
This week's GCC conclave marks a pivotal moment in UP's journey toward becoming a global investment magnet. By integrating cost efficiency, a talent-rich demography, proactive approvals, and a generous incentive framework, the state has laid down a compelling case for multinational GCCs to set up shop.
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