Summary:

The rapid expansion of Global Capability Centres (GCCs) underscores India's role in fostering commercial innovation. A Knight Frank India report forecasts that GCC office space absorption in major areas will reach 26 million square feet by 2027, up from 19.69 million in 2023. Since 2018, transaction activity has surged by 16%, with GCCs finalizing 6,667 office lease transactions across eight key cities, highlighting their growing influence in India's real estate market.

Mr. Shishir Baijal, CMD of Knight Frank India, noted that India's robust GDP growth and strong infrastructure attract top talent and organizations. India's GCCs have become pivotal hubs for global strategy and local innovation, with the IT and IT-enabled services (IT/ITeS) sector leading and the highest concentrations in Mumbai and Bengaluru. Approximately 80% of GCCs serve international clients. By 2025, India is expected to have over 1,900 GCCs employing 2 million people, focusing on advanced technology and sustainability. CEO Sameer Dhanrajani anticipates that GCCs will become integral to global organizations by 2030.

Source: IBEF 

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