Mumbai’s skyline is set for a transformation as Global Capability Centers (GCCs) emerge as the powerhouse behind India’s office real estate boom. A comprehensive new report reveals that in the country’s top seven cities, GCCs could account for up to 50% of total office leasing demand in the coming years, with US firms leading the charge.
Since 2020, American companies have dominated GCC leasing activities, capturing nearly 70% of the market share. In contrast, firms from the European Union and the UK have held a more modest 8-10%. This trend underscores the magnetic pull of India’s skilled workforce and cost advantages for global giants looking to offshore operations.
Projections paint an even brighter picture: annual demand for Grade A office space from GCCs is expected to hit 35-40 million square feet, representing 40-50% of overall office absorption. This surge is fueled by ongoing trade agreements and tariff normalizations between India, the US, EU, and UK, particularly boosting sectors like technology, BFSI, engineering, manufacturing, and consulting.
Arpit Mehrotra, Managing Director of Office Services at Colliers India, highlights a shift on the horizon. ‘While US-driven tech GCCs remain steady, we’re anticipating growth from EU and UK companies, especially in engineering, manufacturing, BFSI, and consulting,’ he noted.
Historical data backs this optimism. From 2020 to now, GCCs have leased about 117 million square feet out of a total 310 million square feet demanded nationwide— a solid 38% share. Demand has doubled from 16 million square feet in 2020 to nearly 30 million in 2025.
Vimal Nader, National Director and Head of Research at Colliers India, emphasizes GCCs’ pivotal role. ‘They will continue sustaining office space demand, supporting tenant base growth and diversification. Reduced global trade tensions and fresh bilateral deals will accelerate this momentum,’ he said.
The availability of talent and cost arbitrage will further propel GCC expansions, positioning India’s office market for sustained vibrancy amid evolving global dynamics.