Hi Aditya,
I'm sure you have found an answer by now, but the answers on the posts here didn't really cover the whole story.
Firstly, the eTPU is effectively a co-processor mounted in a host processor. The compiler for the host is completely separate and pretty much unrelated to the eTPU itself. Several different compilers exist for the host side and there may well be GNU tools available.
The eTPU is a different animal. The eTPU has a limited selection of tools vendors, with different specialisms. Ashware provide a compiler, so do Freescale. I personally tend to much prefer the Bytecraft compiler. The story isn't over here though as the Bytecraft compiler comes in a couple of flavours, eTPU1 and eTPU2. Depending on your planned requirements there may be advantages to opting for one or the other. This is a specialist corner though and you'll need to do some digging. There are no GNU tools to my knowledge, and I would be very wary of trusting cummunity tools for such a specialist and unusual core. The money you pay, buys you support from the experts.
To develop you will most likely need a compiler, a simulator and a debugger. Please feel free to contact me if you need any help in all of this, I'm an independent eTPU specialist.
Rob