Economy

States race to build India’s next GCC boom

The Times of India August 14, 2026

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C'struction›States race to build India’s next GCC boom The Economic Times daily newspaper is available

online now. Read Today's Paper States race to build India’s next GCC boomSECTIONSStates race to build

India’s next GCC boomBy Faizan Haidar, ET BureauLast Updated: Aug 14, 2026, 12:26:00 PM ISTRate StoryFollow

usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisIndian states are actively pursuing Global Capability

Centre growth by 2031. These efforts aim to create over one million new jobs and establish many new centers. Dedicated

policies and incentives are driving this significant expansion across multiple regions. GCCs are increasingly leasing

substantial office space, showing strong real estate demand. Bengaluru and Hyderabad lead this growth, attracting major

investments and employment opportunities.ANIIndian states are actively pursuing Global Capability Centre growth by 2031.

These efforts aim to create over one million new jobs and establish many new centers. (Image for Representation)New

Delhi: Multiple Indian states, driven largely by their dedicated Global Capability Centre (GCC) policies, are targeting

the creation of more than 1.1 million jobs and the establishment of over 1,300 new GCCs by 2031, according to

CBRE.States such as Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh and Andhra

Pradesh have implemented dedicated GCC policies to attract investment and accelerate sector growth. Also Read: 90% of

India’s GCC leaders confident through 2030, but AI literacy stuck at 27%Meanwhile, Tamil Nadu has introduced

specialised incentives for GCC employees. Telangana and Delhi have adopted policy frameworks to encourage the

development of the GCC ecosystem. Several other states are also exploring policy frameworks for the sector, with Kerala

among those that have proposed draft GCC policies.Live Events“The speed at which state governments have moved to

formalise dedicated GCC policies is unprecedented in India’s commercial real estate landscape. This reflects a broader

recognition that these centres are no longer a peripheral component of India’s services economy, but a central pillar

that states are actively competing to host, through targeted incentives, faster approvals and long-term infrastructure

commitments,” said Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE.This policy

momentum is playing out against the backdrop of sustained real estate demand from these capability centres nationally.

According to the report, GCCs have leased over 123million sq. ft. of office space across India’s top nine cities

between 2022 and the first six months (H1) of 2026. Their share of total office leasing has also risen steadily from 29%

in 2022 to 43% in H1 2026. Technology (23%), BFSI (22%) and Engineering & Manufacturing (16%) together account for more

than 60% of this leasing activity, underscoring the increasing sectoral diversification among GCCs.Also Read: India’s

GCCs trade hefty headcount for specialised talentCollectively, states with GCC-focused policy frameworks are targeting

the establishment of more than 1,300 new GCCs and the creation of over 1.1 million jobs by 2031.“State policy

frameworks are increasingly translating into real, on-ground real estate demand. As more states introduce dedicated

capex support, payroll incentives and faster regulatory clearances, we are seeing this reflected directly in leasing

activity. With states continuing to compete on execution speed and infrastructure readiness rather than incentives

alone, we expect this policy-led momentum to further strengthen GCC leasing activity across both established and

emerging markets in India,” said Ram Chandnani, Managing Director, Leasing Services, India, CBRE.According to CBRE’s

report, India’s GCC leasing growth continues to be driven by six major hubs. Bengaluru emerged as the leading market,

recording more than 51 million sq. ft. of cumulative GCC leasing between 2022 and H1 2026, accounting for approximately

42% of the country’s total GCC leasing activity during the period.Hyderabad ranked second, with over 24 million sq.

ft. of GCC leasing, representing about 20% of India’s total GCC leasing between 2022 and H1 2026. Chennai, Delhi-NCR

and Pune each recorded more than 13 million sq. ft. of GCC leasing, contributing roughly 10-11% each to the national

total.While Mumbai accounted for a relatively smaller share of around 4% of national GCC leasing, at nearly 5 million

sq. ft. during the 2022 to H1 2026 period, it stands out as the preferred destination for BFSI occupiers.Add as a

Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)Read More News

onGlobal Capability CentresGCC policiesstate policies for GCCjob creation in IndiaGCCs in Indiareal estate demand(Catch

all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times

Prime and read the ET ePaper online....moreless(You can now subscribe to our Economic Times WhatsApp channel)Read More

News onGlobal Capability CentresGCC policiesstate policies for GCCjob creation in IndiaGCCs in Indiareal estate

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