Foreign companies have leased nearly 105 million sq ft of prime office space across seven major Indian cities since 2022 to establish global capability centres (GCCs), according to a report by Colliers India. During the January 2022 to June 2026 period, foreign firms, largely from the US, rented 104.6 million sq ft of office spaces to set up GCCs across top-seven office markets. This accounted for nearly 37% of the total office leasing during this period.
The number of GCCs in India has reached more than 2,100 centres at the end of 2025, with projections indicating growth to over 4,000 centres by 2030, as per the Colliers report. The seven major cities where GCCs are being established include Bengaluru, Mumbai, Hyderabad, Delhi-NCR, Pune, Chennai, and Kolkata. The rising number of GCCs is increasingly influencing office space demand across these metropolitan areas.
In the January-June period this year, GCCs leased 16.6 million sq ft of Grade A office space, representing an increase of about 30% on an annual basis. Their share in total leasing has risen to 46% during this period. According to Arpit Mehrotra, Managing Director, Office Services at Colliers India, India has firmly established itself at the epicentre of GCC-led innovation, combining talent superiority, cost arbitrage and technological prowess.
Looking ahead, GCCs are expected to drive 45-50% of India's office space demand over the next two years, taking up 35-40 million sq ft of Grade A space annually, as reported by Colliers. The growth in GCC numbers is expected to create multiple opportunities for developers and investors alike. As multinational corporations continue to scale up their operations in India, office space demand is expected to be fuelled by large-scale capability centres at the forefront of AI-driven innovation.
