Gandhinagar: Gujarat govt has received expressions of interest (EOIs) from eight companies under the Global Capability Centre (GCC) policy, which was announced in Feb last year. Companies have proposed around Rs 18,000 crore in investments to set up facilities to advance research and development (R&D).Top govt sources said that the EOIs received under the GCC policy are being processed, and sanctions will be provided to companies along with the various incentives announced under the policy. The eight EOIs received under the GCC policy are in the sectors of semiconductors, capital markets and financial services, engineering R&D, chemicals and materials, healthcare and life sciences, technology and industrial manufacturing.“Our aim is to strengthen the state’s position in the GCC ecosystem by attracting multinational corporations (MNCs) and other companies to foster innovations in R&D in the state, generate high-skill employment and construct specialized IT zones and data centres,” an official said. He added that all the EOIs will be processed at the earliest, and companies will be given incentives in accordance with the provisions of the GCC policy. “We expect the units approved under the GCC policy to begin onsite construction work before the end of the year,” a source said.Gujarat’s GCC policy seeks to attract at least 250 new GCC units by offering incentives, promoting investment, and simplifying regulations to encourage companies to establish research and development facilities, a significant step before manufacturing. While announcing the policy, the govt said it aims to generate more than 50,000 employment opportunities in the state and attract an investment of Rs 10,000 crore.The policy offers capital expenditure (capex) assistance ranging from Rs 50 crore to Rs 200 crore and operational expenditure (opex) support ranging from Rs 20 crore to Rs 40 crore. It also provides a 7% interest subsidy on term loans, capped at Rs 1 crore per year, in addition to 100% electricity duty exemption for five years.One of the highlights of the policy is the employment generation assistance — one-time support of 50% of one month’s cost to the company (CTC) for newly recruited local employees retained for at least one year. This assistance is capped at Rs 50,000 for male employees and Rs 60,000 for female employees.
