1000 Global Capability Centers will be established in UP, lakhs of youth will get employment

UP News: CM Yogi is running many schemes for the development of the state. Due to which today many global companies are investing in the state for the long term. According to industry experts, Uttar Pradesh will emerge as a major hub for global companies in the coming years. This also includes the Yogi government’s target of setting up more than 1000 Global Capability Centers (GCC) in the state. Under which more than five lakh youth of the state are expected to get employment.

Know what is Global Capability Center

Let us tell you that Global Capability Center is a place where a big foreign company gets its important work done by its employees. In which no external employee or any vendor is employed. Let us tell you that the policy clarity and long-term approach adopted by the Yogi government through the Uttar Pradesh GCC Policy 2024 has removed the biggest concerns of global companies.

Among these, uncertainty under the rules and delay in the processes were considered to be the biggest challenges, keeping in mind the state government has prepared a clear framework. Under which investors will know about the terms and conditions and their responsibilities from the very beginning. Due to which an environment of trust is being created and the speed of decision making has also increased. This is the reason why now about 90 GCCs are operating in the state.

Permanent industrial structure is getting priority

Land based incentives, with the support of Yogi government, play an important role in reducing the initial cost of investment. Actually, the thinking of Yogi government is that when the investor gets structural support in the initial phase, he will remain associated with the state for a long time. Due to which, permanent industrial structure is getting priority instead of temporary office or rented arrangement. This model is providing strength and stability to the industrial development of the state. Let us tell you that the Yogi government is not limited to just attracting investment in the state, but its implementation is also being done with time. Due to which everyone’s accountability has been fixed and all the projects are being completed on time.

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Employment opportunities will increase

Along with this, new opportunities for high value employment are also being created in the state through Global Capability Centres. In these, local youth are getting international level experience in areas like information technology, engineering, data and management. Due to which the human resource capacity of the state is being strengthened and it has also become a means to control brain drain. These especially include less developed areas. In which the government is working rapidly towards removing regional imbalance by encouraging investment. When global companies come to these areas, they will also provide a boost to the local economy.

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