GCCs can create jobs, retain local talent; Govt committed to facilitating profitable investments

Jammu, Oct 9 (KNS): Chief Minister Omar Abdullah on Friday said Jammu and Kashmir has the potential to emerge as a competitive destination for Global Capability Centres (GCCs), urging industry leaders to explore investment opportunities in the Union Territory and assuring full government support to create a business-friendly environment, attract investment and generate employment.

Addressing the inaugural session of the two-day J&K GCC Summit 2026 at the Indian Institute of Management (IIM) Jammu virtually from New Delhi, the Chief Minister said the government's objective was to position Jammu and Kashmir as an attractive investment destination capable of competing with emerging business hubs across the country.

“We have to make Jammu and Kashmir a place that is competitive, a place that is attractive to do business, a place where you can make money, and a place where we can compete with the Tier 2 and Tier 3 cities around the country,” Abdullah said.

The summit, themed 'Unlocking J&K's GCC Potential for Building Growth Ecosystem and Catalysing Investment', has brought together policymakers, industry leaders and academic institutions to explore opportunities for integrating Jammu and Kashmir into India's expanding GCC ecosystem.

Highlighting the transformation of GCCs in India, Abdullah said the sector had evolved from traditional call centres and business process outsourcing operations into centres of innovation, technological expertise and enterprise development.

“The story of GCCs in India is a story of evolution, as is the story of Jammu and Kashmir,” he said, drawing parallels between the sector's transformation and the changes witnessed in the Union Territory over the past three decades.

Acknowledging that Jammu and Kashmir continued to face perception-related challenges because of its past, the Chief Minister said the government was working to address these concerns by encouraging investment across manufacturing, agriculture, tourism, industry and emerging sectors.

He said Jammu and Kashmir did not need to replicate the development models of established GCC hubs such as Hyderabad, Bengaluru and Chennai, but could benefit from their experience and position itself as a competitive alternative to Tier 2 and Tier 3 cities.

“Coming late to the party is disappointing, but it is not always disadvantageous. We can learn from the experiences of others. We don't have to reinvent the wheel. We just have to use it better,” he said.

Abdullah said the increasing cost of doing business in major metropolitan cities had created opportunities for emerging destinations, adding that Jammu and Kashmir could capitalise on these developments by offering a competitive and commercially viable business environment.

Emphasising the availability of skilled human resources, the Chief Minister said the Union Territory had a strong network of higher educational institutions, including IIM Jammu, IIT Jammu, Shri Mata Vaishno Devi University, the University of Jammu, the University of Kashmir and the Islamic University of Science and Technology.

He said these institutions were producing talented and qualified young professionals, many of whom were compelled to seek employment outside Jammu and Kashmir because of limited opportunities within the region.

The establishment of GCCs, he said, could help reverse this trend by generating quality employment, retaining skilled professionals and connecting local youth with opportunities in technology-driven industries.

The Chief Minister, however, cautioned against setting unrealistic targets for attracting GCC investments, saying the immediate priority should be to establish a strong foundation for sustainable growth rather than pursue large numbers of centres.Click Here To Follow Our WhatsApp Channel

“We'd be quite happy to have one, first GCC. One will lead to five. Five will lead to ten. And the story will grow from there,” Abdullah said.

He stressed that companies should invest in Jammu and Kashmir because of its economic potential and commercial advantages rather than sympathy arising from the challenges the region had faced.

The Chief Minister said the long-term sustainability of investments would depend on profitability and the ability of businesses to operate competitively.

Referring to the government's efforts to improve the investment climate, Abdullah highlighted the passage of comprehensive Ease of Doing Business legislation during the recent session of the Jammu and Kashmir Legislative Assembly.

He said the legislation had received the assent of the Lieutenant Governor and had become law, with the objective of simplifying business procedures and making the Union Territory more attractive to investors.

The Chief Minister acknowledged that effective implementation would be crucial to achieving the intended objectives and said the government would review its experience and introduce further improvements wherever necessary.

Abdullah also underlined the importance of sustained engagement with industry bodies, particularly the National Association of Software and Service Companies (NASSCOM), to identify investment opportunities and address challenges faced by potential investors.

He said the summit would provide an opportunity for the government to learn from established GCC ecosystems and understand the policy, infrastructure and institutional requirements necessary to attract companies to Jammu and Kashmir.

Highlighting the region's climatic advantages and improving connectivity through road, rail and air networks, the Chief Minister said these factors could strengthen Jammu and Kashmir's appeal as an emerging business destination.

“I am just going to assure all of you that whatever we can do in the government to make your journey easier, to ensure that you're able to establish here easily and also profitably, please rest assured that at the highest levels in the government, we are committed to making your journey easy,” he said.

The Chief Minister expressed hope that the summit would lay the foundation for a long-term partnership between Jammu and Kashmir and the GCC industry, particularly as emerging technologies created opportunities for new investment destinations.

He thanked the participating industry leaders and delegates and appreciated IIM Jammu for organising the event, expressing confidence that the deliberations would help identify practical measures for translating investment potential into projects and employment opportunities.

The inaugural session was attended by Chief Secretary Atal Dulloo, Commissioner Secretary Higher Education Ram Niwas Sharma, Secretary Labour and Employment Kumar Rajeev Ranjan, NASSCOM President Rajesh Nambiar, NIIT Chairman Rajendra Singh Pawar and IIM Jammu Director Prof B S Sahay, besides representatives from government, industry and academia.

According to officials, the two-day summit has attracted participation from around 45 organisations, more than 55 industry leaders and over 300 delegates.

The event aims to strengthen collaboration between government, industry and academic institutions and develop a roadmap for attracting GCC investments, promoting innovation and creating sustainable employment opportunities in Jammu and Kashmir. (KNS)