Lucknow, Jan 6 (NationPress) The Cabinet of Uttar Pradesh, led by Chief Minister Yogi Adityanath, has sanctioned the Standard Operating Procedure-2025 (SOP) aimed at the effective execution of the Uttar Pradesh Global Capability Centre Policy-2024. This initiative is set to inject new energy into global investments, superior services, and extensive job creation throughout the state.

As per the newly approved SOP, Invest UP will serve as the coordinating agency responsible for monitoring the implementation of this policy. The SOP will take effect from the day the GCC Policy-2024 was introduced and will remain valid until the state government opts to modify or revoke it.

Industrial Development Minister Nand Gopal Gupta Nandi emphasized the state's favorable investment atmosphere, stating that numerous industrial corporations and multinational enterprises are actively pursuing potential investments. He noted that the GCC policy has already yielded encouraging results, with 21 companies beginning investments in global capability centres in the current financial year. These centres, defined as captive units established by either Indian or foreign enterprises, will target strategic operations such as information technology, research and development, finance, human resources, design, engineering, analytics, and knowledge services.

The SOP presents a detailed framework of financial incentives to attract GCC units, including land subsidies, stamp duty exemptions or reimbursements, capital and interest subsidies, operating expense support, payroll and recruitment subsidies, and reimbursement of Employees' Provident Fund contributions, along with incentives for talent development and research support, evaluated on a case-by-case basis.

In addition to financial aid, these units will receive technical assistance, industry connections, regulatory guidance, expedited application processing, and simplified approval and funding mechanisms. All incentives from this state initiative will be in addition to any benefits provided by central government schemes. In cases of legal disputes, jurisdiction is confined to courts in Lucknow, and incentive disbursement will adhere to existing finance department rules.

This decision is perceived as a major advancement by the CM Yogi government in establishing Uttar Pradesh as a key global services hub. The effective implementation of the GCC policy is expected to attract high-skill investments into the state, creating significant new employment opportunities for the youth.