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India's Global Capability Centre ecosystem is projected to expand to around 2,400 centres by 2030, with market size expected to reach USD 105-110 billion, according to a FICCI Anarock report. From over 1,700 GCCs and USD 64 billion market value in 2024, the sector continues to grow on demand from IT, BFSI, healthcare and engineering services. While top cities dominate office supply, GCC expansion is increasingly moving into Tier-2 cities, reshaping India's commercial real estate landscape.
India's Global Capability Centre (GCC) landscape is expected to see sustained expansion over the rest of the decade, with the total number of centres projected to touch around 2,400 by 2030, according to a joint report by industry body FICCI and real estate consultancy Anarock. The report was released in Bengaluru as part of a broader assessment of the country's evolving commercial real estate market. Advertisement
At the end of 2024, India hosted more than 1,700 GCCs, employing over 1.9 million professionals. The report estimates that employment in these centres could rise to over 2.8 million by the end of the decade, reflecting India's growing role in global business operations and technology-led services.
The GCC market size in India, valued at around USD 64 billion in 2024, is projected to expand to nearly USD 105-110 billion by 2030. This growth marks a sharp rise from USD 30 billion in 2019, underlining the pace at which global firms have scaled their India operations over the past five years. Anarock Chairman Anuj Puri noted that demand from sectors such as IT and IT-enabled services, banking and financial services, healthcare and life sciences, and engineering research and development has been a key driver of this expansion. He added that the momentum is expected to continue, with the market growing at an estimated compound annual growth rate of around 10 per cent through 2030.
The report also highlighted a geographic shift in GCC expansion. While India's top seven cities continue to dominate, the GCC footprint is steadily spreading to Tier-2 cities such as Jaipur, Indore, Surat, Kochi and Coimbatore. This trend reflects both cost considerations and the availability of skilled talent beyond traditional office hubs.
India's office real estate market has also seen a structural change in how it is perceived by global occupiers. Raj Menda, Chairman of the FICCI Committee on Urban Development and Real Estate and Chairman of the Supervisory Board at RMZ Corp, pointed out that office real estate is no longer treated only as a cost to be managed. Instead, it has become a strategic factor influencing capital allocation, job creation and residential choices for the country's young workforce.
The top seven cities together account for around 800 million square feet of Grade A office stock, with Bengaluru and the Delhi-NCR region making up nearly half of this supply. Net office absorption during 2025 crossed 58 million square feet, while gross leasing exceeded 80 million square feet, marking another strong year for the commercial property segment.
Vishal Vijay, CEO of GCCBase, a platform operated by Sattva Group, observed that the growing preference for Tier-2 cities signals a shift in global capability models. As GCCs assume more strategic and value-driven roles, mid-sized companies setting up their first overseas centres are focusing less on rapid scale and more on strong governance, regulatory compliance and operational stability from the outset.
Source PTI
FAQ
Q1. What does the FICCI Anarock report indicate about the future size of India's GCC ecosystem?
The FICCI Anarock report projects that India's Global Capability Centre ecosystem will expand steadily to around 2,400 centres by 2030. This marks a significant increase from over 1,700 GCCs operating in 2024. The expansion reflects India's strengthening position as a preferred destination for global firms to locate technology, operations, and high-value service functions, supported by talent availability, cost advantages, and a mature business environment.
Q2. How is the market value and employment base of GCCs expected to change?
India's GCC market size, estimated at around USD 64 billion in 2024, is expected to grow to nearly USD 105-110 billion by 2030. Employment is also projected to rise substantially, from over 1.9 million professionals at present to more than 2.8 million by the end of the decade. This growth highlights the increasing scale and strategic importance of GCCs within global corporate structures.
Q3. Which sectors are driving the growth of GCCs in India?
Demand from sectors such as IT and IT-enabled services, banking and financial services, healthcare and life sciences, and engineering research and development continues to be the primary driver of GCC expansion. These sectors are increasingly using India not only for cost efficiency but also for innovation, advanced analytics, product development, and core business decision-making capabilities.
Q4. How is GCC expansion reshaping India's commercial real estate landscape?
The report points to a clear geographic diversification in GCC locations. While the top seven cities still dominate office supply and absorption, GCCs are increasingly expanding into Tier-2 cities such as Jaipur, Indore, Surat, Kochi, and Coimbatore. This shift is driven by lower real estate costs, availability of skilled talent, and improved urban infrastructure, leading to deeper and more distributed office demand across the country.
Q5. What trends are visible in office space supply and leasing activity?
India's top seven cities together account for about 800 million square feet of Grade A office stock, with Bengaluru and Delhi-NCR contributing nearly half of this supply. In 2025, net office absorption crossed 58 million square feet, while gross leasing exceeded 80 million square feet, indicating sustained occupier confidence and strong demand from GCCs and other corporate users.
Q6. How are global companies expectations from GCCs evolving?
Industry leaders note that office real estate and GCCs are now viewed as strategic assets rather than just cost centres. As GCCs take on higher-value and decision-critical roles, especially for mid-sized global firms, there is a growing focus on governance, regulatory compliance, and operational stability. This shift is influencing both location choices and long-term investment strategies, further reinforcing India's role in global business operations.
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