Chennai is set to host 450+ Global Capability Centres (GCCs) by 2030, up from 250 today, driven by premium office spaces, skilled talent, and proactive policies. CBRE’s report highlights Chennai’s ranking as India’s third-largest GCC leasing market, with robust growth in office absorption and strategic appeal for global corporations.
Chennai is emerging as a powerhouse for Global Capability Centres (GCCs), with their numbers projected to grow from 250 to over 450 by 2030, according to a report by CBRE. This surge is attributed to the city’s abundant premium office space, skilled talent pool, and proactive state government policies.
Titled Tamil Nadu: The Epicentre of Capability and Innovation Leadership, the CBRE report highlights Chennai’s rising prominence as a key destination for GCCs. The city accounts for 11% of India’s GCC talent and employs over 150,000 professionals. “As the world embraces digital transformation, GCCs have emerged as strategic drivers of India’s exponential growth,” said Anshuman Magazine, Chairman & CEO, CBRE India, South-East Asia, Middle East & Africa.
Initially drawn to India for cost advantages, GCCs now leverage the country’s skilled workforce and thriving startup ecosystem. Tamil Nadu’s supportive policies, such as the Startup and Innovation Policy 2023 and R&D Policy 2022, further bolster Chennai’s appeal for global corporations seeking to establish or expand their operations.
Chennai is India’s fifth-largest office market, with 90+ million square feet of office stock as of September 2024. This figure is expected to exceed 100 million square feet by 2026. GCCs in Chennai leased 2.3 million square feet in the first nine months of 2024 alone, a significant jump from 1.4 million square feet in 2022. US-based firms accounted for 67% of these setups between January 2022 and September 2024.
“Chennai offers a compelling proposition for global businesses with its strong talent pool, corporate ecosystem, and world-class office spaces,” added Magazine. The city ranks third in GCC leasing activity, trailing only Bengaluru and Hyderabad, and is projected to lease 3–3.2 million square feet of office space in 2025.
Angad Bedi, CMD of BCD Group, emphasised the role of Chennai’s infrastructure and policies in fostering this growth. “India’s position as a technology outsourcing hub has been further elevated with the rise of the GCC ecosystem. Enterprises are increasingly tapping into India’s talent and robust technology solutions,” he remarked.
As Chennai solidifies its reputation as a hub for innovation and capability development, the city is set to become a global leader in GCCs, driving economic growth and technological advancement while reinforcing Tamil Nadu’s status as a strategic business destination.
