India is projected to accommodate more than 2,400 Global Capability Centres (GCCs) by 2030, employing over 2.8 million professionals. A report by FICCI and ANAROCK highlighted that India’s GCC market could grow to $105 – 110 billion, with a compound annual growth rate of 10 percent. In 2025, India’s office market witnessed record high leasing in the top seven cities, primarily driven by GCCs, which now contribute over 40 percent to total leasing.
GCCs leased approximately 32.5 million square feet of the total 80.5 million square feet of office space in the top seven cities in CY25. Bengaluru remains at the forefront of India’s GCC landscape due to its abundant talent pool, well-established ecosystem, and sustained global investment interest. The city accounted for more than one-third of GCC leasing, with Pune following at 15 percent, and Delhi-NCR and Hyderabad at around 14 percent each.
The demand for premium office spaces in India is fueled by the sector’s ability to attract and retain global talent, the country’s cost efficiency, and its skilled captive workforce. Moreover, India’s GCC presence is expanding beyond the top 7 cities, gradually moving into Tier 2 cities like Jaipur, Indore, Surat, Kochi, and Coimbatore. Anuj Puri, Chairman of ANAROCK Group, noted that India’s GCC market has grown significantly from $30 billion in 2019 to about $64 billion in 2024, driven by sectors such as IT/ITeS, BFSI, Healthcare & Life Sciences, and Engineering Research & Development (ER&D).
The report also highlighted that India’s Real Estate Investment Trust (REIT) market lags behind mature markets like the US, Singapore, and Japan, indicating substantial growth potential. It suggested that with increased institutional involvement, policy backing, and broader asset inclusion, the REIT market penetration could rise to 25–30 percent by 2030, up from the current 20 percent.
