India’s Global Capability Centre (GCC) ecosystem continues to strengthen its position as a major driver of commercial real estate growth, with multinational companies leasing nearly 105 million sq ft of Grade A office space across the country’s 7 largest cities since 2022.
According to a recent report by Colliers India titled “GCCs in India: Global leadership through scale, competitiveness, talent & innovation,” foreign companies, primarily from the US, leased 104.6 million sq ft of premium office space between January 2022 and June 2026. This accounted for nearly 37% of total office leasing across Bengaluru, Mumbai, Hyderabad, Delhi-NCR, Pune, Chennai, and Kolkata during the period.
The report highlighted that leasing activity has accelerated in 2026. GCCs leased 16.6 million sq ft of Grade A office space during the first 6 months of the year, representing an annual growth of around 30%. Their share of total office leasing also increased to 46% between January and June.
The report stated, “India continues to be the most preferred destination for GCCs, underpinned by its deep and diverse talent pool, cost competitiveness, robust technology ecosystem, and favourable business environment.”
India had more than 2,100 GCCs by the end of 2025, and the number is projected to exceed 4,000 by 2030. This continued expansion is expected to sustain strong demand for premium office space.
Arpit Mehrotra, Managing Director, Office Services, Colliers India, said, “India has firmly established itself at the epicentre of GCC-led innovation, combining talent superiority, cost arbitrage and technological prowess.”
He added that multinational companies will continue expanding their India operations as GCCs increasingly take on AI-driven innovation roles. “Going forward, over the next 2 years, GCCs are expected to drive 45-50% of India’s office space demand, taking up 35-40 million sq ft of Grade A space annually,” Mehrotra said. He also noted that the growth in GCCs will create significant opportunities for both real estate developers and investors.
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