Lucknow: A day after unveiling an ambitious plan to develop Uttar Pradesh into a Global Capability Centre (GCC) hub, the state govt on Tuesday cleared proposals to issue letters of comfort (LoCs) to four companies planning to invest a combined Rs 1,710 crore in Gautam Budh Nagar.
The four proposals include an Rs 879-crore investment by Havells India Ltd and Rs 634 crore by LG Soft India Pvt Ltd, both under Noida Authority. Ameriprise India LLP plans to invest Rs 112.84 crore and MetLife Global Operations Support Centre Pvt Ltd Rs 84 crore at Embassy Oxygen Business Park on private land.
The cabinet approved the proposals under Uttar Pradesh GCC Policy 2024. incentives for Havells and LG Soft will be considered on a case-by-case basis While Ameriprise and MetLife will be eligible for incentives under the policy. GCCs undertake technology development, research, financial services, engineering and other global business operations for multinational companies.
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“The proposed investments are expected to strengthen UP’s GCC ecosystem and create opportunities for skilled employment,” principal secretary, IT and electronics, Alok Kumar said. Download the TOI App.