US companies accounted for 70% of India’s GCC demand between 2018 and 2025, as leasing touched a record 31 million sq ft in 2025. Tier I cities dominate with over 90% activity, while Tier II markets gain traction with 10–35% cost savings. More than 200 new GCCs entered India over the past 2 years.
India’s Global Capability Centre (GCC) story reached a new milestone in 2025, with a record 31 million square feet of office leasing. According to JLL in its India GCC Guide 2025 report, this surge came alongside the broader office market’s strongest year ever, as gross leasing touched 83.3 million square feet.
US-headquartered companies remain the biggest growth engine. Between 2018 and 2025, they accounted for 70% of total GCC demand in India, underlining the country’s strategic importance in global operating models. This sustained expansion signals that India has evolved from a cost arbitrage destination to a core innovation and capability hub.
Over the past decade, GCCs have driven nearly 40% of overall office leasing. More than 90% of this activity has been concentrated in Tier I cities, which together offer over 263 million square feet of Grade A office stock across the top seven markets.
Tier I Cities Lead the Charge
Bengaluru continues to dominate, commanding a 34–39% share of overall GCC activity. The city hosts more than 900 GCC units across IT/ITeS, engineering R&D, analytics, retail and innovation centres. Its deep talent pool and mature tech ecosystem keep it at the forefront.
Hyderabad follows with a 20–23% market share, supported by strong clusters in healthcare, biotechnology, pharmaceuticals and life sciences, as well as IT and analytics. Pune accounts for 15–20% of national activity, driven by BFSI, automotive, manufacturing and engineering services.
Chennai has seen steady demand growth since 2023, expanding beyond manufacturing into IT/ITeS and BFSI. Meanwhile, Delhi NCR has evolved into a corporate services hub across consulting, ecommerce, healthcare and education. Mumbai remains a stronghold for GCCs in strategic banking and financial services.
Flex Operators Ride the Wave
The scale of expansion is accelerating. The report notes that more than 200 new GCCs have entered India in the last two years. The total footprint is expected to cross 350 million square feet over the next three to four years.
This momentum has also benefited flexible workspace operators. Companies such as Awfis, WeWork India, and IndiQube have tapped public markets in recent years, aligning their growth strategies with enterprise demand from GCCs seeking agile, scalable office solutions.
Tier II Cities Gain Attention
While Tier I markets dominate, Tier II cities are emerging as credible alternatives. The report highlights that these markets offer 10–35% cost savings and access to untapped talent pools.
Cities such as Ahmedabad, Kolkata, Jaipur, Coimbatore, Mysuru and Kochi are gradually positioning themselves as viable GCC destinations. Improved infrastructure, better connectivity and proactive state-level policies are strengthening their appeal.
The shift reflects a broader strategy among global firms. Beyond cost efficiency, companies are increasingly prioritising geographic diversification, risk management and access to specialised talent as part of their long-term India play.
For India’s office and flex workspace ecosystem, the message is clear: GCCs are no longer a segment within the market. They are the market’s growth engine.
