India to host more than 2,400 GCCs, employ 2.8 million professionals by 2030: FICCI-ANAROCK

India is poised to host more than 2,400 Global Capability Centres (GCCs) by 2030 and employ over 2.8 million professionals, according to a report by FICCI-ANAROCK. The report added that India’s office market in 2025 demonstrated marked resilience, with all-time high office space leasing across the top seven cities.

The report titled, ‘Workplaces 2025: India Commercial Real Estate Reimagined’, stated that GCCs account for more than 40 per cent of total gross leasing in these top cities.

Anuj Puri, Chairman, ANAROCK Group, said that India’s GCC landscape has expanded rapidly with the market size rising from $30 billion in 2019 to $64 billion in 2024, propelled by the demand from sectors such as IT/ITeS, BFSI, Healthcare & Life Sciences, and Engineering Research & Development (ER&D).

“The momentum is expected to continue,” said Puri, adding that the GCC market is projected to reach a market size of $105-110 billion by 2030, growing at a CAGR of 10 per cent. “he sector’s ability to attract and retain global talent, coupled with India’s cost efficiency and its skilled captive workforce, continues to fuel demand for premium office spaces. Further, India’s GCC footprint is rapidly expanding beyond the top 7 cities, spreading steadily into Tier 2 cities such as Jaipur, Indore, Surat, Kochi, and Coimbatore. These cities are gaining increasing prominence as the next GCC growth hubs,” said Puri. 

In 2025, GCCs accounted for over 32.5 million sq ft of the total gross office leasing, which was at 80.5 million sq ft, across seven cities, with Bengaluru in the lead. Pune followed with a 15 per cent share, while Delhi-NCR and Hyderabad accounted for 14 per cent. 

Raj Menda, Chairman, FICCI Committee, stated, “For three decades, India’s office real estate market was largely viewed as a cost line to be managed. Today, it is a strategic lever. It shapes where global capital is deployed, where high-value jobs are created, and where India’s young workforce chooses to live.”

The report stated that Real Estate Investment Trusts (REITs) sector is experiencing a period of structural change, propelled by diversification and increased institutional involvement. The expansion into asset classes such as data centres, logistics parks, and retail malls reflects the evolving preferences of investors and occupiers, broadening the market's scope and potential impact on the country's real estate landscape.

Although residential REITs face regulatory and market complexities that may slow their development, gradual progress is anticipated as conditions adapt. The report indicated that such diversification will shape the future trajectory of the REIT market in India.

Since the first REIT listing in 2019, India has quickly attained a market capitalisation of nearly $18 billion, supported by only five listed REITs. This rapid growth is seen as significant given the relatively late entry compared to global peers.