Summary: This blog post provides an overview of the Maharashtra’s new Global Capability Centre Policy, approved in September 2025, which aims to position the state as India’s premier innovation hub by attracting 400 new GCCs. This policy is important because it transforms Maharashtra into a strategic competitor to traditional GCC hubs like Bangalore and Hyderabad, offering businesses substantial benefits including capital subsidies, tax exemptions, dedicated infrastructure, and access to a skilled talent pool, whilst supporting India’s broader vision.
Global Capability Centres (“GCC”) have experienced a dramatic evolution in recent years, transforming from simple cost-saving back-office operations into strategic innovation powerhouses driving digital transformation and enterprise agility. India now serves as home to more than 1,800 GCCs that provide employment to 2.16 million professionals,[1] cementing its position as the world’s premier destination for these high-value centres of excellence.
While Bangalore, Gurgaon, and Hyderabad continue to occupy a lion’s share of the GCCs in India, Mumbai and Pune in Maharashtra are fast emerging as alternative locations and pushing for a bigger percentage – specifically in the BFSI sector. The combined office infrastructure of Mumbai and Pune exceeds 250 million square feet, representing a significant portion of India’s total office stock of nearly 900 million square feet and establishing the state as a formidable competitor among major hubs.
This GCC Policy framework seamlessly supports the Prime Minister’s visionary Viksit Bharat @ 2047 initiative, which charts India’s transformation into a developed nation with a USD 30 trillion economy by 2047.[2] As part of this initiative, the Maharashtra Cabinet granted approval to the Global Capability Centre Policy on September 30, 2025 (“MH GCC Policy”). The policy’s fundamental objective is to position Maharashtra at the forefront of India’s evolution towards a knowledge-driven, innovation-led economy, establishing it as the country’s premier destination for innovation and technology hubs. The MH GCC Policy initiatives align seamlessly with the vision articulated at the 6th Global Fintech Festival in Mumbai, held in October 2025, where the Finance Minister emphasised India’s transformation from a cost-arbitrage destination to a strategic innovation hub for GCCs, particularly in fintech and financial services.[3]
From Playbook to Policy: Maharashtra’s GCC Journey
Released in March 2025 by Nasscom, the Maharashtra GCC Playbook (“GCC Playbook”) provides a comprehensive framework for establishing GCCs in Maharashtra. It highlights key considerations including government support, talent availability, and infrastructure, and includes practical guidelines, case studies, checklists, and frameworks to enhance operational capabilities and navigate the complexities of GCC establishment.
| GCC Playbook (March 2025) | MH GCC Policy (September 2025) | |
| Nature | Comprehensive framework and practical roadmap for establishing GCCs, including guidelines, case studies and checklists. | Formal government policy with binding commitments and a regulatory framework. |
| Focus Sectors | BFSI, automotive and information technology (IT) sectors. | Aerospace & defence, agro & food processing, gems & jewellery, logistics, metals & mining, pharmaceuticals & chemicals, renewable energy, textiles & apparel, IT/ITES and automotive. |
| Targets | Guidance on ecosystem, talent pool and infrastructure in Mumbai, Pune, and Nashik. | 400 new GCCs, 4 lakh jobs and INR 50,600 crore investment. |
| Incentives | General reference to tax benefits and MIDC single-window clearance. | Industry status, additional FSI, capital / rental subsidy, patent filing assistance, green certification, power tariff subsidy, stamp duty and property tax exemption. |
| Geographical Scope | Mumbai, Pune, and Nashik hubs. | Expansion to Tier-2 and Tier-3 cities including Nashik, Nagpur, and Chhatrapati Sambhajinagar. |
Comprehensive Incentive Framework: Making Maharashtra Globally Competitive
The MH GCC Policy offers a comprehensive incentive structure, combining fiscal and non-fiscal benefits to attract and support GCC operations. Fiscal incentives include capital subsidy or rental assistance to offset infrastructure and leasing costs; payroll and interest subsidies to improve operational liquidity; incentives on incremental investment to encourage technology upgrades; patent filing and green certification assistance to promote innovation and sustainability; power tariff subsidy and electricity duty exemptions to reduce energy expenses; R&D Grants and internship programmes under Mukhyamantri Yuva Karya Prashikshan Yojana (CMYKPY) for research and talent development; and stamp duty and property tax exemptions for lowering establishment costs.
Non-fiscal incentives includes providing industry status to GCCs; granting access to industrial benefits traditionally reserved for manufacturing; additional floor space index and mixed-use permissions for flexible facility design; reserved MIDC land with priority allotment for access to prime locations; ease of doing business reforms; digital data repository, open access, right of way, and zoning relaxation to facilitate informed decision making and operational flexibility; uninterrupted power and water supply for continuous operations; and 24×7 operations and flexible employment conditions permitting round-the-clock operations and global workforce management.
Talent Development and Infrastructure Excellence: The Foundation for Growth
The MH GCC Policy’s ambitious target of creating approximately 4,00,000 high-skilled employment opportunities aims to generate quality jobs by incorporating industry-driven curricula, promoting cutting-edge research, and equipping the workforce with advanced digital and technical capabilities. The government intends to implement structured training and reskilling programmes concentrated on artificial intelligence, cybersecurity, data engineering, and design to meet evolving GCC workforce requirements. Integrating industry needs with academic curricula, can help Maharashtra attract higher-end centres specialising in product engineering, research, and digital transformation.
Maharashtra’s roadmap includes establishing dedicated GCC parks with world-class infrastructure in Navi Mumbai, Pune, Nagpur, Nashik, and Chhatrapati Sambhajinagar for multinational corporations and startups.[4] The development plan encompasses business districts with integrated physical and digital infrastructure, supported by a digital databank to map talent, resources, and connectivity. A 300-acre Innovation City is also under development, conceived as a hub for AI research, deep-tech startups, and corporate R&D centres. Maharashtra has also committed to expanding its power capacity from 45 GW to 75 GW by 2030, guaranteeing uninterrupted energy for growing tech hubs.
By leveraging its financial services strength, Mumbai is anticipated to attract GCCs concentrating on banking, capital markets, and fintech-related operations, while Pune, a robust base of technology and R&D centres, is positioned to be a key beneficiary. The MH GCC Policy is expected to stimulate office space demand across Mumbai Metropolitan Region, Pune, and Tier-2 cities like Nagpur and Nashik.[5]
The Road Ahead: Economic Impact and Maharashtra’s Global Leadership
The MH GCC Policy anticipates investment of approximately INR 50,600 crore / USD 57.58 billion across the state. Industry experts project it will stimulate fresh leasing demand of 25–30 million square feet over the next three to five years across Mumbai region and Pune, driven by expansion and new entrants to the banking, financial services, technology, and engineering sectors, with the multiplier effect energising ancillary industries in IT services, commercial real estate, fintech, cybersecurity, and logistics.
Currently, most of India’s GCCs are concentrated in just six Tier-1 cities. The MH GCC Policy focuses on unlocking potential in smaller cities to help accelerate GCC growth beyond the metros. Expanding GCC presence to Tier-2 and Tier-3 cities such as Nashik, Nagpur, and Chhatrapati Sambhajinagar will help achieve regional balance and contribute to Maharashtra’s gross state value-added and global competitiveness in the digital economy.
The state has prioritised establishing GCCs that specialise in artificial intelligence, data analytics, robotics, and cybersecurity as well as strengthening priority sectors, such as aerospace and defence, agriculture and food processing, gems and jewellery, logistics, metal mining, pharmaceuticals and chemicals, green energy, IT, and automotive. The MH GCC Policy will encourage GCC-led research, multinational collaborations, and -value, knowledge-intensive investments.
Talent availability continues to be the most significant attraction for GCCs, with multinationals progressively viewing India as a strategic hub rather than merely a cost centre. Maharashtra’s proactive MH GCC Policy framework will result in higher office absorption across Mumbai, Pune, and emerging corridors like Thane, Navi Mumbai, and Nagpur, not only helping attract new entrants but also stimulating large-scale expansions by existing players seeking to advance up the value chain. The transition towards high-value GCCs is anticipated to translate into demand for large, high-quality office spaces in prime business districts and well-connected suburban corridors, driving fresh absorption and sustained rental growth.
[1] ‘CII charts roadmap for India’s next phase of global leadership in knowledge industries’, CII Media Releases, Accessible here.
[2] Maharashtra Global Capability Centre Policy, September 30, 2025, Accessible here.
[3] Fortune India, October 7, 2025. Accessible here.