Summary:

Chennai, India's third-largest market for Global Capability Centres (GCCs), is on track to triple its office space leased by FY25, with American corporations driving demand. Chennai is home to over 250 GCCs, employing 11% of India's GCC workforce. Its talent pool exceeds 150,000 professionals, with a projected 1.4x increase by FY30. Government initiatives, such as the Tamil Nadu Startup and Innovation Policy, enhance its appeal, attracting major companies like AstraZeneca and Caterpillar.

Chennai has emerged as a vital GCC hub due to its strategic location, skilled talent pool, and supportive policies. The city plans to add 12-13 million square feet of premium office space between FY25 and FY26. Currently India's fifth-largest office market, with over 90 million square feet, it is projected to surpass 100 million square feet by FY26. US companies accounted for 67% of GCC establishments, with growing concentrations in Coimbatore, Madurai, and Tiruchirappalli.

Source: IBEF 

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