India has emerged as the leader in hosting Global Capability Centres (GCCs). US-headquartered firms have taken up 60% of the area occupied by India’s GCCs. Currently, India is home to more than 1800 centres, serving over 1,400 unique global corporations. The GCCs now occupy more than 240 million sq. ft of Grade A office space across the country's top seven cities (Mumbai, Delhi NCR, Kolkata, Bengaluru, Chennai. Bengaluru and Pune).

According to JLL India, this achievement is further amplified by adding over 100 new centers in just the past two years (since 2022), underscoring India's appeal to multinational giants seeking to optimize their global operations. 

The "Silicon Valley of India," or Bengaluru, accounts for 42% share of space occupied by GCCs and Hyderabad accounts for more than 17% of the GCC stock in India. Bengaluru, Hyderabad, and Chennai collectively account for 3/4th of space leased by GCCs in the last 18 months (2023-H12024).

This concentration reflects Bengaluru's unparalleled tech ecosystem, world-class educational institutions, and cosmopolitan work culture, which attract top talent from across the globe. This unprecedented surge cements India's status as the premier GCC destination and heralds a new era of growth and transformation in the country's business ecosystem.

“Recent leasing activity further emphasises the GCC sector's robust growth. In the last 18 months alone (Jan-December 2023-H1 2024), GCCs leased an astounding 35.2 million sq. ft of office space. Notably, Bengaluru, Hyderabad, and Chennai captured a significant three-quarters of this leasing activity, underscoring the region's appeal with its combination of world-class infrastructure, deep talent pools, and supportive business ecosystems,” said Dr Samantak Das, Chief Economist and head of Research and REIS, India, JLL.

The GCC landscape in India is dominated by three key sectors: Manufacturing, IT/ITeS, and BFSI, which collectively represent about 78% of the occupied area. This concentration reflects India's strengths in technology, finance, and industrial expertise, as well as the country's ability to support complex, high-value operations across these domains.

"India's transformation from a mere cost-saving destination to a strategic innovation powerhouse is reshaping the global business landscape. Today, we're witnessing Global Capability Centres in India spearheading cutting-edge R&D in AI, machine learning, and advanced manufacturing. The country's GCCs are no longer just service providers; they're becoming the nerve centers of global corporations, with Indian leadership securing pivotal roles in shaping worldwide business strategies. This shift underscores India's emergence as the crucible of innovation where multinational enterprises are forging their future," said Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India, JLL.

Bright future

The future appears bright for India's GCC sector. GCCs account for approximately 50% of active, ongoing space requirements across the top seven cities, signalling continued expansion and investment in the country. As GCCs evolve from cost-saving centers to transformation hubs, India's role in driving global business innovation and digital transformation is set to grow even further.