economy

Karnataka targets 500 new global capability centres, 3.5 lakh jobs by 2029

Published on: 08 Jul 2026, 07:15 PM

Karnataka Chief Minister D.K. Shivakumar has announced a government commitment to attract 500 new global capability centres (GCCs) to the state, aiming to create 3.5 lakh high-quality jobs and generate $50 billion in economic output by 2029.

The announcement was made during the KATALYST CONNECT event organised by the Department of Electronics, Information Technology and Biotechnology and the Karnataka Digital Economy Mission (KDEM) in Bengaluru. The Chief Minister met with over 200 GCC leaders, corporate heads and senior government officials to discuss the next phase of growth for the state's GCC ecosystem.

Mr. Shivakumar reaffirmed the government's focus on strengthening Karnataka's position as India's leading destination for GCCs. 'Today, GCCs in our state are shaping global products, engineering breakthrough technologies and driving enterprise transformation,' he said.

Home Minister Priyank Kharge, who also holds the IT, Biotechnology and e-Governance portfolios, emphasised the evolving role of GCCs. 'As GCCs evolve from delivery centres into global hubs for AI, engineering, R&D and product innovation, our focus is on ensuring that Karnataka continues to provide the talent, policy environment and innovation ecosystem required for them to take on larger global mandates,' he said.

The consultation saw participation from major global companies including Google, Target, Intel, IBM, Anthropic, Nokia, Bosch, JPMorgan Chase, HSBC, Chevron, Philips, Thermo Fisher Scientific, Takeda, Novo Nordisk, Rolls-Royce, Raytheon, Ford, eBay, Carl Zeiss, Collins Aerospace, Johnson Controls and Maersk.

The Chief Minister also outlined infrastructure plans, including the construction of a 123-km Bengaluru Business Corridor at a cost of ₹26,000 crore in its first phase. A small tunnel project near Hebbal and a planned 40-km tunnel road were mentioned, with the latter to be discussed in an upcoming Cabinet meeting. Additional projects include a 44-km double-decker flyover and a 133-km flyover, with total spending on Bengaluru's development estimated at ₹1.5 lakh crore.

Mr. Shivakumar stated that the government aims to build 'more new Bengalurus' in the state by developing tier-2 and tier-3 cities. He announced that double Floor Area Ratio (FAR) would be allowed in other cities, enabling construction of multi-storey buildings. He noted that while office space rent in Bengaluru is between $1 and $1.5 per square foot, space in smaller cities is available for half a dollar, making them attractive alternatives for businesses.

Source: The Hindu

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