A major real estate and technology investment is taking shape in Mumbai as JPMorgan Chase moves to expand its footprint in India.
JPMorgan Chase is planning to develop Asia’s largest Global Capability Center in the Powai area of Mumbai. The proposed built to suit campus will span around 2 million square feet and is designed to accommodate up to 30,000 employees when it becomes fully operational in 2029. The project highlights the bank’s growing focus on India as a strategic hub for banking, financial services and insurance operations.
The Powai campus is expected to act as a central hub for high value and advanced work. These include AI driven risk analytics, cybersecurity operations and next generation digital banking solutions. By bringing these functions together, JPMorgan aims to tap into India’s strong talent base in data science, machine learning and fintech engineering to support its global businesses.
This development follows the bank’s recent real estate expansion across India. Over the past 2 years, JPMorgan has leased nearly 1 million square feet of office space across Mumbai, Bengaluru and Hyderabad. This includes a notable addition of 176,000 square feet in Hyderabad.
India’s Global Capability Center market has seen rapid growth in recent years. GCCs now account for 42 percent of prime office space absorption as multinational companies move more complex and high value work to the country. JPMorgan’s Powai campus is expected to stand among the largest such developments, reinforcing Mumbai’s position as a key financial and technology destination. The project is also likely to support local employment and drive growth in surrounding infrastructure, housing and services.
JPMorgan has been operating in India since 1991 and currently employs over 50,000 people across its local operations. The upcoming GCC will support core business areas such as investment banking, asset management and treasury services. It also reflects the bank’s push toward technology led transformation amid rising digital demands and shifting global conditions.
Industry observers see the move as a strong signal of confidence in India’s BFSI ecosystem. The investment could encourage similar expansions by other global banks as India’s GCC market, valued at about $50 billion, is expected to grow significantly by 2030 with increased focus on AI and automation.
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