In a testament to India's growing dominance in the global business landscape, the country has emerged as the undisputed leader in hosting Global Capability Centres (GCCs). According to JLL India, the subcontinent now has over 1,800 GCCs, serving more than 1,400 unique global corporations.
This remarkable achievement is further amplified by the addition of over 100 new centers in just the past two years (since 2022), underscoring India's appeal to multinational giants seeking to optimize their global operations.
A Global Capability Center (GCC) is a fully-owned and operated offshore or nearshore entity that provides a variety of services to a parent company. GCCs are also known as Global In-house Centers (GICs) or Captive Centers
The GCCs now occupy more than 240 million sq. ft of Grade A office space across the country's top seven cities -- Mumbai, Delhi NCR, Kolkata, Bengaluru, Chennai. Bengaluru and Pune. This unprecedented surge not only cements India's status as the premier GCC destination but also heralds a new era of growth and transformation in the country's business ecosystem.
“Recent leasing activity further emphasizes the GCC sector's robust growth. In the last 18 months alone (Jan-December 2023-H1 2024), GCCs leased an astounding 35.2 million sq. ft of office space. Notably, Bengaluru, Hyderabad, and Chennai, captured a significant three-quarters of this leasing activity, underscoring the region's appeal with its combination of world-class infrastructure, deep talent pools, and supportive business ecosystems,” said Dr Samantak Das, Chief Economist and head of Research and REIS, India, JLL.
Meanwhile, Knight Frank India, country’s leading real estate consultancy, also highlighted in its latest report ‘GCC – Driving India’s Real Estate Growth Story’ that Global Capability Centres (GCCs) have emerged as the primary occupiers of flex spaces across the country. According to the data analysis from Knight Frank Research, GCC occupied flex seats across eight key markets increased from 17,380 in 2023 to 22,881 in the first nine months of 2024.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, “India's GDP growth continues to be the fastest among major economies in the world, attracting attention for its rapidly developing infrastructure and the steady influx of top-tier talent and corporate entities. The cost-efficient nature of flexible workspaces has further driven a notable increase in occupancy rates among Global Capability Centres (GCCs) in 2024. With a thriving talent pool and competitively priced commercial assets in key markets, GCCs are well-positioned for sustained growth in the coming years.”
