India's Booming GCCs: A Paradigm Shift in Real Estate

India's Global Capability Centres (GCCs) are projected to soar to about 2,400 by 2030, with an anticipated market size of USD 110 billion, according to a new report by FICCI and Anarock. The report, unveiled at a Bengaluru event, highlights the rapid growth and transformation of the GCC landscape in India.

FICCI committee Chairman Raj Menda emphasized that the office real estate market in India has evolved from being merely a cost center to a strategic entity, impacting global capital deployment and job creation. This maturation reflects in the expansion of India's GCCs from top cities into Tier-2 locations.

This growth trajectory is supported by rising demand from sectors like IT/ITeS, BFSI, and healthcare. With India's leading cities already hosting a significant portion of Grade A office space, the report notes a strategic shift in GCCs' role from scale to operational excellence and governance.