I believe that the varieties GCY 1 and GCY 2 have been offered to you by Mr GS Guraya, the olive evangelist from Rajasthan. He tells me:

GCY 1 contains 20 to 22% oil and is for olive oil production.

GCY 2 contains only 13 % to 18 % oil, but has bigger fruit and is for table usage.

I feel that olives will be used more as table toppings in India in pizzas, uttappams and pickles than as oil. So I feel GCY 2 should be a better choice. G S Guraya suggested that we plant 90 % area with GCY 2 and 10 % area with GCY 1. Apparently the two varieties provide a bit of bio-diversity and cross pollination.

Please do post if you get more information on GCY 1 and 2 or the varieties promoted under Israeli cooperation in India.