GCC POLICY KARNATAKA
Bengaluru's 5G Dreams: DoT's RoW rules to clear the path
India's tech hub, Bengaluru, faces a critical connectivity challenge due to roadblocks in implementing right-of-way rules for telecom infrastructure. While removing unauthorized cables, disruptions caused by these removals highlight the urgent need for streamlined policies and collaboration between the government and telecom providers to ensure reliable, high-speed connectivity for businesses and essential services.
100 GCCs to adopt 100 colleges; create sector-specific programmes, says Priyank Kharge
Proposes 100 GCCs adopt 100 colleges and create sector-specific programmes, where 50% of the programme content will be specific to a company or sector, and the remaining for overall knowledge enhancement.
Karnataka eyes $3 billion investment in space tech in five years
With a view to cornering half of India's and 5% of the world's market share in the space tech sector, the government plans to lend support to about 500 startups and MSMEs. It is also looking to see at least 50 satellites -- with substantial indigenisation levels -- launched by space sector firms in the state.
Qcomm firms target gig fraud; common code for gaming
Happy Wednesday! The booming instant delivery sector is driving players to sharpen their hiring systems for gig workers. This and more in today¡¯s ETtech Morning Dispatch.
Bengaluru Rising report would help make better policies, says IT/BT Minister Kharge
The minister was commenting on Bengaluru Rising, a data report published by the nonprofit UnboxingBLR Foundation, released by chief minister Siddaramaiah, Dy CM DK Shivakumar and himself at the inaugural of the Bengaluru Tech Summit.
Bengaluru Tech Summit: Karnataka launches GCC policy, to create 6k jobs
The policy aims to generate over 5,000 jobs in Bengaluru, with an additional 1,000 jobs expected in areas beyond the city. ¡°Companies setting up dedicated campuses in these emerging locations will also be eligible for customised incentives, assessed on a case-by-case basis, to drive investment and development in the region,¡± the 72 page policy read.
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Bengaluru Tech Summit: Govt to set up global innovation districts in Bengaluru, Mysuru & Belagavi, says CM
Karnataka is establishing three global innovation districts in Bengaluru, Mysuru, and Belagavi to bolster its tech and innovation ecosystem, CM Siddaramaiah announced after kicking off the three-day Bengaluru Tech Summit. These districts will attract global capability centres (GCCs) and nurture startups. The state also announced initiatives to skill one lakh people in collaboration with tech giants and establish an electronics manufacturing cluster in Mysuru.
IT minister Kharge calls for level-playing field in semiconductor investments
"I'm not saying that other ecosystems don't deserve support, but who deserves it the most? It's not just about Karnataka; it's about the nation becoming a manufacturing hub. It's about India becoming an economic superpower and leading in technologies." Kharge also said that it's disheartening that states like Karnataka, Tamil Nadu, and to some extent, even Maharashtra, are getting the raw deal.
India dominates GCC market, now home to 1,800 centres across 240 million sq ft
India now leads as the top destination for Global Capability Centres (GCCs) due to its talented workforce and supportive government policies. Home to over 1,800 GCCs, this number is expected to surpass 2,300 by 2026-27, emphasizing India's role in global business innovation and transformation.
India's office leasing hits new heights led by GCCs, flex
India's office property market sees unprecedented demand, with the September quarter gross leasing volumes reaching 19.89 million sq. ft. Global Capability Centres (GCCs) and flexible spaces dominate, driving the trends. Bengaluru, Delhi-CR, Mumbai, and Hyderabad lead in leasing activity, reflecting robust sectoral interest post-Covid.
A new Silicon Valley? Bengaluru can't be replaced but ground is shifting
Piyush Goyal's recent comments on Bengaluru's position as India's Silicon Valley sparked controversy. While emphasizing the need to create new entrepreneurial townships, Goyal cited a lack of state government support. The rise of Tier II and Tier III cities as emerging IT hubs highlights diversification efforts in India's technology sector.
Karnataka launches GCC policy, first state to do so
¡°Through this policy, we expect the GCC sector to grow at a compound annual rate of 12-14% over the next decade and foresee Karnataka holding nearly 50% of the national GCC market share by 2029", Information Technology and Biotechnology Minister of the state, Priyank Kharge said.
Karnataka unveils GCC policy, aims to generate USD 50 billion economic output by 2029
The Karnataka Government has launched a draft Global Capacity Centres (GCC) policy aiming to generate USD 50 billion in economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs. The policy aims to enhance investor confidence, promote collaboration with the local innovation ecosystem, and position Karnataka as a global leader in AI research and development.
Global capability centres score may go up in 2nd half of hiring game
Captive service units of multinational companies in India employed around 152,000 people in the first half of 2024, up 14% from the prior six months but 9% below the previous year, according to a survey conducted by Xpheno. More than 75% of hires were due to employee replacements. Semiconductor manufacturing, oil & gas, and food & beverage sectors saw the highest net additions. The survey indicated that hiring trends might pick up in the latter half of 2024, driven by India's tech talent and support from southern states like Karnataka promoting themselves as GCC hubs.
Bangalore remains frontrunner in GCC office leasing, followed by Hyderabad Chennai
GCCs in India leased 53 million sq. ft. of office space from 2022 to H1 2024, driven by India's talented workforce and cost benefits. They accounted for 37% of office leasing in H1 2024, with significant contributions from BFSI and technology firms. Bengaluru, Pune, and Hyderabad were key cities for this growth.
Battle for tech talent now shifts to hinterlands on reverse migration
As tech employees returned to their hometowns during Covid-19, the IT talent hunt has shifted to tier-2 and smaller cities, which hold the default advantage of lower operational costs and low attrition rates. These cities may have been overlooked before, but with better infrastructure like reliable power supply and affordable high-speed internet, they are becoming talent hubs.
Karnataka job reservation proposal might become a booster for Hyderabad, Pune, and Delhi-NCR
Telangana might become the state that benefits the most as it offers incentive-based employer policies, while Hyderabad has been in tough competition with India's start-up capital, Bengaluru. The Siddaramaiah-led Congress government¡¯s new reservation demands for locals in Karnataka might lead to flight risks by several investors currently based in India¡¯s Silicon Valley.
Karnataka Industries Minister jumps to douse fire as top industrialists slam bill for jobs for locals
Karnataka's Industry & Infrastructure Minister MB Patil rushed to address concerns over a proposed bill to provide quotas for Kannadigas in the private sector, amidst backlash from industry leaders. Biocon founder Kiran Mazumdar-Shaw emphasised the need for skilled talent without hindering the state's tech industry. Former Infosys director TV Mohandas Pai criticized the bill as discriminatory and regressive. Assocham co-chairman RK Mishra slammed the bill as detrimental to the Indian IT sector. Patil assured that the bill will be reviewed in consultation with key ministers to protect the interests of Kannadigas and industries.
Karnataka¡¯s GCCs will have one million workers by 2030: IT minister Priyank Kharge
Karnataka, KDEM, and ANSR unveiled the Karnataka GCC Landscape Report. Minister Kharge emphasized GCC growth, a new policy and regulations. Bengaluru and tech clusters remain hubs. Lalit Ahuja praised ANSR¡¯s role in innovation and talent. Ekroop Caur highlighted Karnataka¡¯s leadership. The state may host 330 Forbes firms by 2030, advancing software product innovation.
Three-day Bengaluru Tech Summit to be held from November 19
The Bengaluru Tech Summit 2024 will feature participation from 40+ countries, 460+ speakers, and 5000+ delegates. Karnataka CM discusses state's GSDP growth and plans for tech sector. The event will cover various tech tracks including IT, biotech, startups, and more.
Exclusive: Startups under I-T scanner again; payments startups & processing charges
Indian startups are under scrutiny from the income-tax department over the funding that they¡¯ve raised. This and more in today¡¯s ETtech Morning Dispatch.
Sops, tier-2 cities top focus in tech¡¯s Karnataka GCC Policy wishlist
Karnataka's GCC policy targets industry growth through infrastructure investment, employment incentives, single window approvals, fast issue resolution, industry-specific curriculum, flat rate markup, transportation solutions, digital engineering services, and the Karnataka Digital Economy Mission.
Tamil Nadu to offer sops for creation of high paying jobs in Global Capability Centres
The Tamil Nadu government plans to incentivise high-paying job creation in Global Capability Centres (GCCs) through a payroll subsidy. This initiative aims to boost competitiveness, accelerate sector growth, and attract top talent and investment to the state. However, Chennai's parochial outlook and hate politics need to be addressed for optimal impact.
E-buses to account for 11-13% of new bus sales by FY25, says report
Electric buses (e-buses) are expected to account for 11-13% of new bus sales by FY25, according to a report by credit rating agency ICRA. E-bus volumes and penetration levels have improved consistently to 7 per cent in FY23. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) plan has been steady progress towards achieving e-bus deployment targets, with capital subsidies of Rs. 35-55 lakh per bus potentially funding up to 40% of the project costs.
?Forging a new path: ET Women Ahead shines spotlight on the most successful women in India Inc
?The final list of 29 ¨C selected from an initial list of 115 female leaders from corporate India ¨C are the names to keenly watch for in the days ahead. If previous track records are anything to go by, they are all set to scale even greater heights in India Inc.
Elon Musk is definitely buying Twitter this time. Maybe
This week Elon Musk offered to buy Twitter for $44 billion or $54.20 a share ¨C again. Don¡¯t put the popcorn down just yet. Here¡¯s the TL;DR of all the major developments since Musk began to get cold feet in mid-May, and one way he could still wriggle out of deal.
Remittances from Gulf countries dropped sharply in FY21 due to Covid-19
The decline in remittances from the Gulf countries during 2020-21 reflects a slower pace of migration and a larger presence of Indian diaspora in informal sectors which was hit the most during the pandemic period. As a result, the proportion of small size transactions in total remittances increased in 2020-21.
How economic downturn in Gulf states has resulted in a drop in remittances into India
India, the largest remittance-receiving country worldwide, witnessed a near 9% drop in NRI pay-in flows to $62.7 billion in 2016 over the previous year.
'Financial inclusion is commercially viable'
Interest rates have bottomed out and rates will harden after six months. For now, the interest rate movement will depend on inflation. Higher inflation will lead to a gradual increase in interest rates, says CanBank¡¯s AC Mahajan
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