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• India’s GCC workforce is projected to expand to nearly 3.5 million by 2030, creating demand for around 160–200 million sq ft of office space across major business markets.
• Flexible workspaces are expected to account for 65–80 million sq ft, capturing up to 45% of future GCC office demand as companies increasingly adopt managed and asset-light office models.
• Tier-II cities are witnessing rising GCC expansion due to lower rentals, talent availability, reduced operating costs and improving infrastructure connectivity.
Flexible workspace operators are expected to capture a significant share of India’s future commercial office demand as global capability centres (GCCs), IT firms and mid-sized enterprises increasingly shift towards asset-light and managed workspace models, according to a joint report released by UnearthIQ and Smartworks. Advertisement
The report stated that India’s GCC workforce is projected to increase from around 2.1 million to 3.5 million by 2030, generating demand for nearly 160–200 million sq ft of office space across the country. Flexible workspace operators are expected to account for 65–80 million sq ft of this upcoming demand, representing approximately 40–45% of the total projected GCC office absorption.
According to the report, India currently hosts more than 1,850 GCCs employing around 2.2 million people, while total IT and IT-enabled services talent stands at nearly six million professionals. Bengaluru continues to account for the largest share of GCC talent, followed by Delhi-NCR, Hyderabad, Pune, Chennai and Mumbai.
The study noted that India’s office market has evolved from policy-led Special Economic Zone and Software Technology Parks of India models towards multi-tenant campuses and flexible workspace formats focused on scalability, operational efficiency and employee experience. Flex spaces are currently estimated to account for 10–15% of the overall GCC workspace market but are witnessing the fastest growth rates within the commercial office segment.
The report highlighted that mid-tier IT firms and mid-market GCCs with employee bases below 1,000 are increasingly preferring built-to-suit and managed office formats over fully owned campuses due to lower upfront capital expenditure and shorter setup timelines. Asset-light operating structures based on operating expenditure models are also gaining traction among multinational occupiers seeking flexibility and lower long-term lock-in commitments.
Tier-II cities are also emerging as important destinations for GCC expansion. The report stated that lower rentals, lower salary costs, reduced commute times and improving infrastructure are driving enterprises to expand beyond Tier-I office markets. Around 24–26% of India’s technology, business process outsourcing and research talent is currently employed in Tier-II cities.
The report further observed that flex workspace operators are expanding beyond traditional leasing models into end-to-end GCC enablement services including recruitment, compliance, operational support and innovation partnerships. Several operators are developing integrated service platforms combining workspace solutions with talent management and enterprise support functions.
According to the report, India’s GCC workspace market had a total addressable market size of approximately USD 4.32 billion in 2025, with an estimated net new workspace opportunity of USD 1.2–1.7 billion expected between FY2025 and FY2030.
Source: Smartworks Website
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