NEW DELHI: The Uttar Pradesh government on Sunday said its Global Capability Centres (GCC) Policy 2024 focusses on attracting Fortune 500 companies and boost foreign direct investments, and aims to turn cities like Noida, Lucknow, Kanpur, and Varanasi as into hubs of technology and digital services.

The policy outlines an ambitious plan to generate over 2 lakh high-paying jobs over the next five years, the state government said in a statement.

Special incentives will be offered to attract investment from top global corporations. It will not only accelerate Uttar Pradesh’s economic growth, but will also open doors to a wide array of opportunities for the state’s youth. With this initiative, the Chief Minister Yogi Adityanath-led government’s resolve to make UP a USD 1 trillion economy will also be strengthened, the statement said.

The policy lays out rules for setting up Level-1 and advanced GCCs.

For Level-1 GCCs, companies need to invest at least Rs 15 crore or employ 500 people outside Gautam Buddha Nagar and Ghaziabad. In these two districts, the minimum investment requirement is Rs 20 crore.

Advanced GCCs require an investment of Rs 50 crore (outside Gautam Buddha Nagar and Ghaziabad) or Rs 75 crore (within these districts), along with 1,000 employees. This ensures equal opportunities for both small and large investors.

The state has introduced incentives to win the confidence of investors. These include 30-50 per cent subsidy on land cost, 100 per cent stamp duty exemption, 25 per cent capital subsidy (up to Rs 10 crore for Level-1 and Rs 25 crore for Advanced GCCs), SGST reimbursement, 5 per cent interest subsidy, and 20 per cent operational subsidy (up to Rs 40 crore for Level-1 and Rs 80 crore for Advanced GCCs).

Companies can also receive payroll support of up to Rs 1.8 lakh per employee. These benefits will reduce set-up costs and encourage investment in the state, the statement said.

Besides, customised incentive packages will be offered to GCCs to be set up by Fortune 500 companies or India’s top 500 corporates, as well as those with foreign direct investment (FDI) of over Rs 100 crore. This is part of the government’s strategy to attract top global companies to Uttar Pradesh.

The policy also supports innovation and startups. It includes 50 per cent cost reimbursement for startup ideation (up to Rs 2 crore), an Intellectual Property Rights (IPR) subsidy of Rs 5-10 lakh for patents, and grants of up to Rs 10 crore for setting up centres of excellence.

These measures aim to make Uttar Pradesh a hub for technological innovation, the statement added.

Source:Press Trust of India

NEW DELHI: NetApp, the intelligent data infrastructure company, has announced that it is working with NVIDIA to support the NVIDIA AI Data Platform reference design in the NetApp AIPod solution, to accelerate enterprise adoption of agentic AI.

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NEW DELHI: Vi (Vodafone Idea), India’s leading telecom operator nnounced the launch of 5G services in Delhi NCR in partnership with Ericsson (NASDAQ: ERIC). Vi has deployed Ericsson’s high-performing Massive MIMO radios to launch its 5G service in the capital city.

The 5G launch in Delhi NCR represents a significant milestone in the 5G deployment that Ericsson is carrying out for Vi in various parts of the country.

Vi has deployed energy-efficient and lightweight Ericsson Radio System products such as mid-band Massive MIMO antenna-integrated radios AIR 3268 and AIR 3255 to ensure best-in-class network performance. With its improved spectrum efficiency, lower total cost of ownership and reduced energy footprint, Ericsson’s Massive MIMO portfolio supports Vi’s commitment to offer best-in-class performance for their customers

In October 2024, Vi had awarded Ericsson the contract to upgrade its 4G infrastructure and deploy 5G in circles that Ericsson already powers. In addition, Ericsson was asked to provide 4G and 5G services in the telecom circles of Delhi, Kerala, Chhattisgarh and Rajasthan, thereby substantially increasing its footprint and market share with Vi .

As part of this collaboration, Ericsson has successfully completed the network modernization of the Vi network in Delhi, replacing legacy 2G and 4G equipment with its energy-efficient and lightweight Ericsson Radio System products. The upgrade—seamlessly executed without network interruption—marks a significant milestone in Vi’s continued efforts to enhance network quality for its customers.