Tag: Global Capability Centres

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Odisha Approves Policy to Become GCC Hub

BHUBANESWAR: The Odisha government has recently approved a policy aimed at transforming the state into a hub for Global Capability Centres (GCCs) through a range of incentives, an official reported. A GCC is a facility set up by multinational companies to centralize and handle essential business operations such as IT, research and development, and finance. A cabinet meeting led by Chief Minister Mohan Charan Majhi approved 12 proposals from nine departments, including the Odisha Global Capability Centre (GCC) Policy 2025, as stated by Chief Secretary Manoj Ahuja. The new policy seeks to attract major multinational firms to set up and…

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Mindspace REIT to invest ₹4,185 crore in expansion

NEW DELHI: Mindspace Business Parks REIT plans to invest over ₹4,185 crore in capital expenditures for its ongoing projects from FY26 to FY28, targeting double-digit growth in net operating income (NOI) and net distributable cash flow (NDCF). The company, boasting an under-construction portfolio of 15 million sq ft and completed assets totaling 31 million sq ft, aims to bolster its presence in key cities—Hyderabad, Mumbai, Pune, and Chennai—while also branching out into data centres, hospitality, and mixed-use assets to diversify its revenue streams, as per Ramesh Nair, CEO & MD, in an exclusive interview. Below are edited excerpts: How has…

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GCCs to Lease 50-55 Million Sq Ft in FY26-FY27: ICRA

Representative image NEW DELHI: ICRA, a leading rating agency, anticipates that global capability centres (GCCs) will lease an additional 50-55 million square feet of Grade A office space during FY26-FY27, which could account for 38-40% of overall office demand in the top six markets: Bengaluru, Chennai, National Capital Region (NCR), Hyderabad, Mumbai Metropolitan Region (MMR), and Pune. Furthermore, ICRA predicts that the number of GCCs will increase from about 1,700 currently to over 2,500 by 2030, generating upwards of $100 billion in revenue and expanding workforce capacity by 1.5-2.0 times. The rapid growth of GCCs has become a significant growth…

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Andhra Pradesh Forms Council to Attract GCCs

VIJAYAWADA: The Andhra Pradesh government has taken significant steps to establish the state as a prominent hub for Global Capability Centres (GCCs) by forming a comprehensive GCC advisory council. This initiative gathers CXOs from global companies, influential industry bodies like NASSCOM, business councils, consulting experts, real estate developers, and renowned academic institutions. The aim is to invigorate GCC investments and elevate AP’s status as a leader in the digital economy. IT, electronics, and HRD minister Nara Lokesh will lead the advisory council. GCCs serve as strategic units for multinational corporations, handling functions such as R&D, IT, finance, procurement, and customer…

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日本企業、インドでGCCを狙う

AI-generated image (representative) HYDERABAD: Although Japanese companies have joined the global capability centre (GCC) scene in India later than others, the ‘silver tsunami’ in Japan is driving an influx of these firms to India. With approximately 30% of its population aged 65 and older, Japan faces a rapidly shrinking workforce while dealing with modernisation challenges. This situation has propelled Japanese companies to seek out India’s young and talented tech workforce, alongside its robust engineering capabilities and growing innovation ecosystem. As reported by Joules2Watts Business Solutions, India is now home to around 85 Japanese GCCs employing over 180,000 people, a number…

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Fit-Outs: The New Revenue Engine for Flexible Offices

Office fit-outs are increasingly becoming a significant revenue source for operators of flexible workspaces. In the first half of 2025, India saw a steady 3% rise in fit-out costs across its top eight cities. According to Cushman & Wakefield, India remains one of the most cost-effective locations for office fit-outs in the Asia-Pacific region, making it an appealing market for businesses looking to expand their workspaces. With a gross leasing of 42 million square feet during this timeframe, the sector is poised to exceed 90 million sqft of leasing activity annually for the first time. “The increasing need for customized…

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ZS Leases 50,000 Sq Ft Office Space in Hyderabad

Representative image NEW DELHI: ZS, a global management consulting and technology firm, announced the opening of a new office in Hyderabad on Monday. This expansion aims to enhance its service capabilities for healthcare and life sciences Global Capability Centres (GCCs) in India. The new facility, spanning 50,000 sq ft at Raheja IT Park in HITEC City, is expected to accommodate around 550-600 employees, as stated by the company. According to ZS, the new office is part of its strategy to boost innovation and service capabilities for healthcare and life sciences GCCs in India, allowing the company to provide tailored, high-impact…

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GCCs Adopt ‘Hub Plus One’ Plan to Reduce Concentration Risks

Recent data indicates that at least 20% of new investments into global capability centers (GCCs) over the next couple of years will adopt a “hub plus one” strategy. This approach allows firms to expand from metropolitan areas into tier-II cities. “Establishing a second delivery center reduces the risks associated with over-reliance on a single location,” stated Vikram Ahuja, cofounder of ANSR, an organization that assists clients in setting up GCCs nationwide. “Advancements in both physical and digital infrastructure are making these cities increasingly viable for global delivery.” Experts reveal that this model is rapidly gaining traction due to factors like…

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GCCs Hold 42% of India’s Office Leasing in FY25: Report

AI-generated image (representative) NEW DELHI: Global Capability Centres (GCCs) have solidified their role in India’s office leasing landscape for FY25, contributing to 42% of total office space absorption nationwide, a slight increase from 41% the previous year, as reported by Vestian, a real estate consultancy firm. During the fiscal year, GCCs leased 31.8 million sq ft of office space, marking a substantial 24% growth year-on-year. Despite a 4% drop in the number of GCC transactions to 305 deals, the average leased area per transaction has increased, indicating a shift towards larger office spaces and long-term expansion plans. The report notes…

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India’s Office Space Demand Reaches 48.9M Sq Ft in H1 2025

NEW DELHI: The demand for commercial office space in India hit an all-time high in the first half of 2025, with gross leasing volumes reaching 48.9 million sq ft, reflecting a substantial 41% increase compared to the previous year, according to the latest report by Knight Frank. This remarkable growth was fueled by robust leasing activities in Bengaluru, NCR, and Pune, driven predominantly by Global Capability Centres (GCCs), which accounted for 39% of the total leasing activity. Other significant players included third-party IT services (22%), flexible space operators (21%), and businesses focused on the Indian market (18%). GCCs and IT…