Daijiworld Media Network - New Delhi
New Delhi, Feb 3: India is on track to emerge as a global hub for Global Capability Centres (GCCs), with projections indicating the country could host more than 2,400 GCCs by 2030, employing over 2.8 million professionals. According to a report released on Tuesday by FICCI and ANAROCK, the GCC market in India is expected to expand to $105–110 billion, growing at a compound annual growth rate of around 10 per cent.
The report highlights that India’s office real estate market reached an all-time high in leasing activity in 2025 across the top seven cities, despite macroeconomic uncertainty and geopolitical challenges. This surge was largely driven by GCCs, which accounted for over 40 per cent of total office space leasing during the year.
In calendar year 2025, GCCs alone leased more than 32.5 million square feet out of the total 80.5 million square feet of gross office space absorbed across the top seven cities, underscoring their growing dominance in the commercial real estate landscape.
Bengaluru continued to anchor India’s GCC ecosystem, supported by its vast talent pool, mature technology infrastructure, and consistent global investor interest. The city accounted for more than one-third of total GCC leasing. Pune followed with a 15 per cent share, while Delhi-NCR and Hyderabad each captured about 14 per cent.
The report attributes sustained demand for high-quality office spaces to India’s cost competitiveness, strong talent retention, and the availability of a highly skilled captive workforce. In addition, the GCC footprint is steadily spreading beyond major metros into Tier 2 cities such as Jaipur, Indore, Surat, Kochi, and Coimbatore, reflecting a broader geographic diversification.
Commenting on the findings, Anuj Puri, chairman of the ANAROCK Group, said India’s GCC market has witnessed rapid expansion over the past few years. He noted that the sector’s size grew from $30 billion in 2019 to nearly $64 billion in 2024, driven by rising demand from industries including IT and ITeS, BFSI, healthcare and life sciences, and engineering research and development.
The report also pointed to significant headroom in India’s REIT market, which remains underpenetrated compared to mature markets such as the US, Singapore, and Japan. With greater institutional participation, supportive policies, and wider asset inclusion, REIT penetration could rise to 25–30 per cent by 2030, up from roughly 20 per cent at present, it added.