Kolkata’s office market witnessed a sharp jump in demand from Global Capability Centres (GCCs) in 2025, reflecting rising interest from global occupiers exploring new destinations beyond traditional hubs.
According to the latest office market data by Cushman & Wakefield, GCC gross leasing volume (GLV) in the city rose 239% year-on-year to 0.5 million sq ft in 2025, up from 0.1 million sq ft in 2024. Although the overall scale remains moderate, the strong growth signals improving market depth, talent-driven demand and increasing confidence among global enterprises.
GCCs accounted for 30% of Kolkata’s total office leasing of 1.7 million sq ft in 2025, compared to 9% in 2024. Major leasing deals during the year reportedly involved companies such as Wipro, KPMG, BDO, StanChart, Accenture, Capgemini, Tata Steel and Linde.
Nationally, GCCs continued to drive India’s office market, recording 29.3 million sq ft of leasing in 2025 and contributing 33% of total GLV across the country.
In Kolkata, IT-BPM companies led GCC demand with 59% share in 2025. Telecom and media followed at 21%, professional services at 13%, and engineering and manufacturing at 7%. The report stated that strong talent availability in IT, consulting and accounting encouraged firms to set up operations closer to skilled workforce clusters.
During 2025, 7 GCCs leased office space in Kolkata, with an average deal size of 72,626 sq ft, indicating a gradual shift toward larger and long-term commitments.
Santanu Ghosh, executive director and head (east) tenant representation at Cushman & Wakefield, said, “Kolkata is seeing a steady pick-up in GCC activity, driven primarily by its domain-specific talent base and improving cost-to-value dynamics. The increase in leasing reflects growing comfort among global occupiers, particularly professional services and IT-led firms, in establishing and scaling operations in the city.”
Saket Mohta, MD of Merlin Group, noted that while Bengaluru leads GCC leasing and Pune is growing rapidly, Kolkata holds strong potential. “Kolkata also has immense potential in the coming years and we are coming up with the World Trade Center, the first World Trade Center in Bengal,” he said.
Siddharth Pansari of Primarc Group highlighted that consultants, agencies, local firms and MNCs are expanding GCC operations in the city. Ravindra Chanaria, chairman of Infinity Group, added that at least 150 GCCs are expected to enter India in the next 5 years and stressed the need for larger spaces and policy support.
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