SDG 8: Decent Work and Economic Growth | SDG 9: Industry, Innovation and Infrastructure | SDG 11: Sustainable Cities and Communities
Ministry of Commerce and Industry | Ministry of Housing and Urban Affairs | NITI Aayog | FICCI
The Federation of Indian Chambers of Commerce & Industry (FICCI) has highlighted that India’s Global Capability Centres (GCCs) are projected to exceed 2,400 by 2030, employing more than 2.8 million professionals, according to a new industry report. The FICCI-ANAROCK report highlights that GCCs have become structural anchors of the Indian property market, accounting for over 40% of total gross office leasing across the top seven cities. The sector’s market size is expected to reach USD 105–110 billion by 2030, growing at a compound annual growth rate of 10%.
Real Estate Momentum and Geographical Diversification The expansion of the knowledge economy is driving record office demand and reshaping urban landscapes:
Office Leasing Performance: Total office leasing reached 80.5 million square feet in 2025, with GCCs contributing 32.5 million square feet of that demand.
Regional Dominance: Bengaluru remains the primary hub, hosting 29% of the national total with over 875 centres, followed by Pune at 15%.
Tier 2 Emergence: A significant trend is the expansion of GCC operations into cities like Jaipur, Kochi, Indore, Surat, and Coimbatore, which are emerging as new frontiers for growth.
REIT Evolution: India now has five listed Real Estate Investment Trusts (REITs) with a market capitalization of nearly USD 18 billion, though they currently represent only 20% of institutional real estate.
What is a “Global Capability Centre” (GCC) in the context of India’s commercial economy? A Global Capability Centre (GCC) is an offshore unit established by a multinational corporation to perform specialized functions such as IT, research and development (R&D), finance, and data analytics. Originally known as “Captive Centres,” they have evolved from simple back-office operations into strategic innovation hubs that leverage India’s deep talent pools and cost efficiencies. Today, they are primary drivers of “Grade A” office demand, influencing the development of premium, technology-led workplace assets across Indian metros and emerging Tier 2 cities.
Policy Relevance
The surge in GCCs represents a strategic shift in India’s role as a global knowledge hub and a driver of institutional real estate growth. This growth underscores India’s continued appeal for Foreign Direct Investment (FDI), which rose to USD 81.04 billion in FY 2024-25, providing a Decisive buffer against global economic headwinds.
Accelerating Tier 2 Urbanization: The expansion into cities like Indore and Kochi provides a blueprint for the Ministry of Housing and Urban Affairs to decentralize economic growth and reduce the infrastructure burden on primary metros.
Institutionalizing Property Markets: The projected rise in REIT penetration to 30% by 2030 offers a pathway to democratize property investment and attract long-term institutional capital into logistics and data centers.
Strengthening the Talent Pipeline: With 2.8 million professionals expected in the sector, there is an urgent need for the government to align higher education curricula with the “Engineering R&D” and “Deep-Tech” requirements of global firms.
Policy-Led GCC Frameworks: Proactive state-level policies are increasingly essential to maintain India’s cost efficiency and talent advantage over competing global destinations.
Relevant Question for Policy Stakeholders: How can the Ministry of Commerce and Industry incentivize GCCs to relocate high-value ‘Deep-Tech’ R&D centers to Tier 2 cities to ensure a more equitable distribution of high-income jobs by 2030?
Follow the full news here: India’s GCC count to surpass 2,400 | FICCI