New Delhi: India is poised to host over 2,400 GCCs by 2030 employing over 2.8 million professionals, and the country's GCC market could reach a size of $105 – 110 billion by growing at a compound annual growth rate of 10 per cent, a report said on Tuesday. The report from FICCI and ANAROCK said India’s office market posted all‑time high leasing across the top seven cities in 2025, driven largely by Global Capability Centres that now account for more than 40 per cent of gross leasing.
Beating macro-economic and geopolitical headwinds, India’s office market in 2025 demonstrated marked resilience, with all-time high office space leasing, the report said. GCCs leased over 32.5 million square feet of the total 80.5 million square feet of gross office space in top seven cities in CY25. Bengaluru continued to lead India’s GCC landscape, backed by its deep talent pool, well-developed ecosystem, and sustained global investment interest. Bengaluru captured over one‑third of GCC leasing, followed by Pune at 15 per cent and Delhi‑NCR and Hyderabad at about 14 per cent each.
The sector’s ability to attract and retain global talent, coupled with India’s cost efficiency and its skilled captive workforce, continues to fuel demand for premium office spaces. Further, India’s GCC footprint is rapidly expanding beyond the top 7 cities, spreading steadily into Tier 2 cities such as Jaipur, Indore, Surat, Kochi, and Coimbatore. “Over the years, India’s GCC landscape has expanded rapidly, with its market size rising from $30 billion in 2019 to around $64 billion in 2024.
This growth is fuelled by an ever-increasing demand from key sectors like IT/ITeS, BFSI, Healthcare & Life Sciences, and Engineering Research & Development (ER&D),” said Anuj Puri, Chairman – ANAROCK Group. India’s REIT market is markedly lower than in mature markets like the US, Singapore, and Japan, it noted, indicating there is significant room for growth. Increasing institutional participation, policy support, and expanding asset inclusion could lift REIT penetration toward 25–30 per cent by 2030, up from about 20 per cent today, the report said.
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