Tag: Global Capability Centres

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GCCs to Drive 45% of Office Space Absorption in 2025

NEW DELHI: In 2025, Global Capability Centres (GCCs) became the primary demand driver in India’s office sector, representing 45% of total leasing, up from 41% the previous year, as per a report by Vestian. Office spaces occupied by GCCs increased to 34.9 million sq ft in 2025, reflecting a 20% year-on-year growth. This surge was fueled by robust demand from GCCs, bolstered by favorable policy conditions in India and tightened work visa regulations in key international markets. Consequently, overall office absorption in India reached a record 78.2 million sq ft, an 11% increase compared to 2024, despite global economic and…

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UP Announces Subsidy Guidelines to Attract GCCs

LUCKNOW: The Yogi Adityanath government aims to position Uttar Pradesh as a prime destination for Global Capability Centres (GCCs) by announcing comprehensive standard operating procedures (SOPs). These SOPs, recently approved by the state cabinet, outline regional incentives to promote balanced industrial growth across the state. Under this initiative, GCCs establishing operations in Gautam Budh Nagar and Ghaziabad can benefit from a 30% land subsidy on purchases from government agencies. In other parts of Paschimanchal (excluding the aforementioned areas) and the Madhyanchal region, a 40% subsidy is available. To encourage investment in less developed regions, the state offers subsidies of up…

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India’s Office Leasing Surpasses 70 Million Sq Ft in 2025

NEW DELHI: India’s office market maintained its growth trajectory in 2025, achieving over 70 million sq ft in Grade A office leasing across the top seven cities for the first time. This surge was fueled by a robust year-end push and sustained confidence from occupiers, as reported by Colliers India. During the year, total office leasing reached around 71.5 million sq ft, reflecting a 6% increase from the previous year. The final quarter was particularly significant, with quarterly demand surpassing 20 million sq ft, a 20% rise from the previous quarter, driven by substantial deal closures and expansion efforts. Bengaluru…

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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…