KDEM and GoodWorks Group to Invest ₹5,000 Crore, Create 62,000 Jobs

The Karnataka Digital Economy Mission (KDEM) has signed a Memorandum of Understanding (MoU) with GoodWorks Group to attract ₹5,000 crore in new investments for Global Capability Centres (GCCs) in Karnataka over the next five years. The collaboration aims to establish 50 new GCCs and expand existing ones, significantly boosting the State’s position as a global hub for technology and innovation.

Strengthening Karnataka’s GCC Ecosystem

The partnership will focus on bringing global enterprises to Karnataka, enhancing the State’s GCC ecosystem through investment promotion, international outreach, policy support, and talent development. It also seeks to foster strategic collaborations and strengthen the relationship between industry, academia, and government.

The initiative is expected to generate over 62,500 direct and indirect jobs, with an estimated ₹2,250 crore flowing annually into the local economy through salaries. Additionally, it will create demand for 1.25 million square feet of commercial real estate, further contributing to the State’s economic growth.

Industry Leaders Speak on the Initiative

Sanjeev Gupta, CEO of KDEM, highlighted Karnataka’s leadership in India’s GCC ecosystem, attributing it to the State’s strong talent base, progressive policies, and collaborative approach with industry. “Our partnership with GoodWorks Group brings together complementary strengths to further enhance Karnataka’s value proposition for global enterprises and accelerate the next phase of GCC-led growth for the State,” Gupta said.

GoodWorks Group co-founder Vishwas Mudagal emphasized the transformative potential of the partnership, stating, “India’s GCC opportunity is entering its most exciting phase, and Karnataka has the potential to lead that transformation globally. Through this partnership, we want to build a stronger ecosystem that makes the State the first choice for every global company looking to establish and scale its India operations.”

Focus on Talent Development and Innovation

A key component of the collaboration is talent development. GoodWorks Group plans to leverage its NetSkill Learning platform, an AI-powered service, to create industry-ready professionals. This includes developing specialized GCC learning pathways to meet the evolving needs of global enterprises over the next decade.

The partnership will also support the creation of virtual Centres of Excellence for strategic industry sectors, enabling deeper collaboration between government, academia, and enterprises. These initiatives aim to solidify Karnataka’s position as a global leader in the GCC space.

Why This Matters

Karnataka’s IT and innovation ecosystem has long been a magnet for global enterprises. This MoU not only reinforces the State’s leadership in the GCC sector but also promises significant economic and employment benefits. With a focus on strategic investments, talent development, and international outreach, the collaboration sets the stage for Karnataka to remain at the forefront of India’s digital economy.

Source: The Hindu