Global Capability Centres (GCCs) are projected to drive up to 50% of India’s office space demand in the top seven markets, with US companies dominating leasing activities, as per a report by Colliers India. Since 2020, US firms have contributed nearly 70% of GCC leasing in India, followed by EU and UK companies at 8–10% each. The report forecasts an annual Grade A office uptake by GCCs to potentially reach 35–40 million sq ft in the coming years, constituting 40–50% of the overall office demand.
Arpit Mehrotra, Managing Director of Office Services at Colliers India, mentioned that while US firms’ technology-driven GCC demand is expected to stabilize, there is anticipated growth from EU and UK companies, particularly in engineering & manufacturing, BFSI, and consulting sectors. The report also highlighted that ongoing trade agreements and tariff adjustments with the US, EU, and UK are likely to bolster long-term office demand, especially in technology, banking, financial services, engineering, manufacturing, and consulting sectors.
According to the report, out of the total 310 million sq ft office space demand in India since 2020, GCCs have accounted for approximately 117 million sq ft, representing 38% of the total demand. The steady rise in GCC demand is evident from the increase in space uptake from around 16 million sq ft in 2020 to nearly 30 million sq ft by 2025. Vimal Nadar, National Director & Head of Research at Colliers India, emphasized that GCCs will remain pivotal in driving India’s office space demand, facilitating the expansion and diversification of the occupier base.
Nadar further stated that global trade tensions have somewhat eased, and recent bilateral agreements between India and its major trade partners are expected to drive growth across key demand drivers in the Indian office market. The real estate services firm highlighted that the availability of skilled talent and cost advantages will continue to propel the expansion of capability centers in India.
