Global capability centers (GCCs) leasing in India hit a record 9.1 million square feet in the first quarter of 2026, marking the highest quarterly GCC absorption ever. This surge occurred alongside the country’s office sector recording a gross absorption of 20.7 million sq ft, the highest in any quarter, as per a report by CBRE South Asia Pvt Ltd. Compared to Q1 2025, overall leasing increased by 5% this year, showcasing the office sector’s resilience.
Anshuman Magazine, Chairman and CEO–India, South-East Asia, Middle East, and Africa at CBRE, emphasized that the robust GCC leasing activity underscores India’s appeal as a global hub for high-complexity capability functions. The demand is diverse, spanning various sectors like e-commerce, technology, and BFSI, driven not only by established Fortune 500 occupiers but also by mid-market and nano GCCs.
The evolving GCC ecosystem in India is witnessing the rise of mid-market and nano GCCs, indicating a shift towards more varied operating models. Mid-market GCCs are transforming into high-maturity transformation hubs, managing global products and high-value services in domains such as FinTech and digital engineering. At the same time, nano GCCs are emerging as agile, specialized innovation units focusing on rapid AI prototyping and niche R&D.
According to the report, GCCs accounted for 44% of total office absorption in Q1 2026, with American firms dominating the GCC leasing at 73%. E-commerce, BFSI, technology, and research, consulting, and analytics were the key demand drivers, with Bengaluru leading GCC leasing at 48%, followed by Hyderabad at 19% and Delhi-NCR at 14%.
Ram Chandnani, Managing Director, Leasing Services, India at CBRE, noted a broadening demand across cities in terms of sectors and geographies, indicating a positive trend in the GCC leasing landscape.
