Mangaluru, Mar 6: In a landmark announcement during the 2026-27 State Budget, Chief Minister Siddaramaiah has officially set the stage for Mangaluru to become a global tech destination. The highlight of the fiscal plan is the establishment of a massive new IT Park in Mangaluru, designed specifically to host the next generation of Global Capability Centres (GCCs).

The GCC Surge: Why Mangaluru?

While Bengaluru remains the primary tech hub, the “GCC Surge” is now hitting coastal Karnataka. The government’s new policy aims to establish 500 new GCCs by 2029, and Mangaluru is the prime candidate due to its:

• Established BFSI Strength: As the cradle of Indian banking, the city is perfectly positioned for Fintech and RegTech (Regulatory Technology) centers.

• Infrastructure Boost: The new IT Park, managed by KEONICS, will provide the “plug-and-play” facilities needed for global giants to set up overnight.

• Economic Impact: This surge is expected to contribute significantly to the state’s target of a $50 billion economic output from the GCC sector.

A Multi-City Strategy

While Mangaluru focuses on the IT Park and global centers, Mysuru has been officially designated as the second major IT city of Karnataka. This “Beyond Bengaluru” strategy is intended to decongest the capital while creating a distributed network of high-paying tech jobs across the state.

“The expansion of GCCs will generate employment for approximately 3.5 lakh people,” the Chief Minister noted, emphasizing that the new infrastructure in Mangaluru will be the cornerstone of this growth.