105 million sq ft and counting: GCCs drive 37% of India's office leasing since 2022
A Colliers India report reveals that Global Capability Centres (GCCs) have leased 105 million square feet of office space in India since 2022. Driven by multinational demand, these centers are expected to grow from 2,100 to over 4,000 by 2030, significantly impacting India's commercial real estate market.
Why it matters
The rapid expansion of GCCs underscores India's growing role as a global hub for corporate innovation, talent, and cost-efficient business operations.
The rapid expansion of global capability centres (GCCs) is reshaping India's office market, with foreign companies leasing nearly 105 million sq ft of premium office space across the country's seven largest cities since 2022, according to a Colliers India report.The report, 'GCCs in India: Global leadership through scale, competitiveness, talent & innovation', found that multinational companies are continuing to expand their footprint in India, driving a significant share of demand for Grade A office space.Colliers said foreign firms, mostly from the US, leased 104.6 million sq ft of office space between January 2022 and June 2026 to establish GCCs. The transactions made up almost 37% of all office leasing recorded across Bengaluru, Mumbai, Hyderabad, Delhi-NCR, Pune, Chennai and Kolkata during the period.The pace of leasing has strengthened further this year.
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