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Global capability centres (GCCs) continue to strengthen India's commercial real estate market, with foreign companies leasing 104.6 million square feet of Grade A office space across seven major cities since 2022, according to Colliers India. The report highlights that India remains the preferred destination for multinational firms due to its skilled workforce, cost advantage and technology ecosystem. GCCs accounted for 37 per cent of total office leasing during the period, while their share rose to 46 per cent in the first half of this year, reflecting their growing role in driving office demand.
India continues to attract multinational companies looking to establish global capability centres (GCCs), with foreign firms leasing nearly 104.6 million square feet of Grade A office space across seven major cities since 2022, according to a report released by real estate consultant Colliers India.
The report, titled GCCs in India: Global Leadership through Scale, Competitiveness, Talent & Innovation, stated that India's large talent pool, competitive operating costs, strong technology ecosystem and favourable business environment have helped the country remain the preferred destination for setting up GCCs. Over the years, these centres have evolved from providing back-office support to handling core business functions, including research and development, engineering, digital transformation, artificial intelligence, data analytics and product innovation.
According to the report, India had more than 2,100 GCCs by the end of 2025, and this number is expected to cross 4,000 by 2030. The steady rise in these centres has significantly contributed to the demand for premium office spaces across key business markets.
Between January 2022 and June 2026, foreign companies, led largely by firms from the United States, leased 104.6 million square feet of office space to establish GCCs in India's seven leading office markets. This represented nearly 37 per cent of the total office leasing recorded during the period.
The report further noted that GCC leasing activity remained strong during the first half of this year. Between January and June, these centres leased 16.6 million square feet of Grade A office space, registering an annual growth of around 30 per cent. Their share in the country's total office leasing also increased to 46 per cent, underlining their growing influence on commercial real estate demand.
The seven major office markets covered in the report are Bengaluru, Mumbai, Hyderabad, Delhi-NCR, Pune, Chennai and Kolkata. Bengaluru continued to remain India's largest GCC hub due to its established technology ecosystem and skilled workforce, while Hyderabad, Pune and Chennai have also emerged as key destinations for multinational companies because of improving infrastructure and availability of quality office space.
Arpit Mehrotra, Managing Director, Office Services, Colliers India, said India has established itself as a global centre for GCC-led innovation by combining a highly skilled talent base, cost competitiveness and technological capabilities. He added that as multinational companies continue expanding their operations in the country, demand for office space is expected to remain strong, driven by large-scale capability centres focusing on artificial intelligence and other advanced technologies.
Looking ahead, Mehrotra said GCCs are expected to account for 45-50 per cent of India's office space demand over the next two years, with annual absorption likely to reach 35-40 million square feet of Grade A office space. He added that the continued expansion of GCCs is expected to create new opportunities for office developers, institutional investors and other stakeholders in the commercial real estate sector.
Industry reports over the past few years have consistently highlighted GCCs as one of the biggest drivers of India's office market. Global companies have increasingly expanded their India operations beyond support functions, making the country a strategic base for innovation, technology development and global business operations. This trend has also encouraged developers to build high-quality office campuses equipped with modern infrastructure and sustainability features to meet evolving corporate requirements.
Source PTI
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