 "Global Capability Centres to cross 2,500 mark in four years: JLL India")
The number of Global Capability Centres (GCCs) in India is expected to surpass the 2,500 mark over the next four years, with their office space footprint projected to exceed 300 million square feet, according to JLL India, a real estate advisory firm.
Currently, more than 1,800 GCCs occupy 240 million square feet of Grade A office space across the country’s top seven cities, serving over 1,400 global corporations, the firm said. Since 2022, 100 new centres have been established in India.
The top seven cities include Mumbai, Delhi National Capital Region (NCR), Kolkata, Bengaluru, Chennai, and Pune. Among these, Bengaluru alone accounts for approximately 42 per cent of the total space occupied by GCCs.
Sectors such as manufacturing, information technology (IT) and IT-enabled services, and banking, financial services, and insurance (BFSI) collectively represent about 78 per cent of the occupied area. US-headquartered firms took up around 60 per cent of the occupied space.
Additionally, 35.2 million square feet (msf) of space was leased to GCCs during the calendar year 2023 and the first half of 2024, marking a 49 per cent year-on-year (Y-o-Y) increase. Bengaluru, Hyderabad, and Chennai accounted for three-fourths of the space leased.
Moreover, GCCs represent about 50 per cent of active, ongoing space requirements across the top seven cities.
Rahul Arora, head of office leasing and retail services, senior managing director (Karnataka, Kerala), India, JLL, said, “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 centres 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.”