GCC – Real Estate Forum

India’s GCC count set to surpass 2,400 by 2030 as commercial real estate hits record highs

Press Release — Thu, 11 Jun 2026 11:44:16 +0000

India’s Global Capability Centres are poised to exceed 2,400 by 2030, employing more than 2.8 million professionals, as the country’s commercial real estate sector records its strongest performance despite global economic headwinds, according to a new industry report.

The findings, published in the FICCI-ANAROCK report “Workplaces 2025: India Commercial Real Estate Reimagined,” reveal that GCCs now account for more than 40 per cent of total gross office leasing across India’s top seven cities, cementing their position as structural anchors of the country’s property market.

As of end-2024, India housed over 1,700 GCCs employing more than 1.9 million professionals. The sector’s market size has more than doubled from USD 30 billion in 2019 to approximately USD 64 billion in 2024, with projections indicating growth to USD 105–110 billion by 2030 at a compound annual growth rate of 10 per cent.

The expansion is being driven by sustained demand from IT-ITeS, banking and financial services, healthcare and life sciences, and engineering research and development sectors, alongside India’s cost efficiency and deep talent pools.

Raj Menda, Chairman of the FICCI Committee on Urban Development and Real Estate and Chairman of the Supervisory Board, RMZ Corporation, said: “India’s commercial real estate sector is at a pivotal inflection point. Record office demand underscores a decisive shift toward high-quality, flexible, and technology-led assets. Global Capability Centres have emerged as a structural anchor of this growth, fundamentally reshaping office demand and accelerating the development of premium, future-ready workplaces across both established and emerging cities.”

Bengaluru continues to dominate India’s GCC landscape, hosting more than 875 centres—representing 29 per cent of the national total. The city captured over one-third of India’s GCC leasing in 2025, followed by Pune at 15 per cent, with Delhi-NCR and Hyderabad each accounting for 14 per cent.

Notably, GCC operations are expanding beyond established metros into Tier 2 cities. Jaipur, Kochi, Indore, Surat, and Coimbatore are emerging as the next wave of GCC destinations, reflecting broader geographical diversification of India’s knowledge economy.

Office leasing across the top seven cities reached approximately 80.5 million square feet in 2025, with GCCs accounting for 32.5 million square feet. Grade A office stock in these markets touched nearly 800 million square feet, led by Bengaluru and the National Capital Region, which together comprise nearly half of total supply.

The report also highlights the structural transformation underway in India’s Real Estate Investment Trust segment. With five listed REITs commanding a market capitalisation of nearly USD 18 billion, the sector has democratised property investment for retail participants. However, REITs currently represent just 20 per cent of institutional real estate—significantly below mature markets such as the United States, Singapore, and Japan.

Of approximately 520 million square feet of REIT-worthy office stock, only 165 million square feet is presently listed, indicating substantial headroom for institutionalisation. The report projects REIT penetration could rise to 25–30 per cent by 2030, driven by diversification into data centres, logistics parks, and retail assets.

Menda added: “Sustaining this momentum will require consistent policy support, long-term institutional capital, and continued collaboration between industry and government.”

Foreign direct investment inflows rose to a provisional USD 81.04 billion in FY 2024-25, marking a 14 per cent increase from the previous year and underscoring India’s continued appeal as a preferred investment destination.

With favourable government policies, proactive state-level GCC frameworks, and office demand increasingly diversified across co-working, BFSI, consultancy, and manufacturing sectors, the outlook for India’s commercial real estate market remains decidedly positive.

eBay launches GCC at Embassy Tech Village, Bengaluru; delivered by Awfis

Press Release — Thu, 11 Jun 2026 11:44:15 +0000

Global commerce giant eBay, which enabled $75 billion in gross merchandise volume in 2024, has inaugurated its new Global Capability Centre (GCC) in Bengaluru. Located at Embassy Tech Village on the Outer Ring Road, the 65,000 sq ft facility will serve as a technology and innovation hub, housing functions across AI/ML, engineering, applied research, product development, data analytics and more. The centre is expected to host over 300 engineers and will play a critical role in scaling AI-driven customer experiences and accelerating product innovation across eBay’s 190 global markets.

Highlighting India’s vibrant e-commerce ecosystem and unmatched technology talent, Mazen Rawashdeh, SVP & Chief Technology Officer of eBay, said Bengaluru was a natural choice for expansion. “By investing in India, we are strengthening our ability to serve 134 million active buyers worldwide while positioning ourselves for long-term growth in emerging regions,” he noted. With 2.4 billion product listings and 10 million unique sellers already leveraging generative AI features, eBay said its Bengaluru teams will have global visibility and impact as the company advances its AI-first commerce strategy.

eBay’s foray into Bengaluru was facilitated by Awfis Space Solutions Limited, one of India’s India’s largest flexible workspace provider and the country’s first publicly listed workspace solutions platform. Awfis’ mandate included designing, building and managing the new office for eBay, which will serve as a strategic hub, supporting a diverse set of functions and accelerating eBay’s AI-first commerce strategy.

The centre – while driving advancements in AI, research and innovation – will play a pivotal role in eBay’s continued growth in India. Its location at Embassy Tech Village – the city’s largest operational office park – offers robust connectivity between the international airport and the city centre, and access to vibrant commercial and social infrastructure.

Commenting on the development, Amit Ramani, Chairman & Managing Director of Awfis Space Solutions Limited, said: “This mandate is a strong validation of Awfis’ ability to deliver future-ready, high-quality workspace solutions that align with the strategic needs of GCCs and large enterprises. Our collaboration with eBay underscores our position as the partner of choice for leading international clients, including those in the GCC region, who seek scalable, innovation-driven work environments. We are proud to play a role in enabling eBay’s global innovation journey through this new centre in Bengaluru.”

As of June 2025, Awfis has 39 operational centres in Bengaluru, strategically located, offering state-of-the-art amenities and experiences curated to make the workplace experience efficient and productive. The Group has also recently helped launch 2 Elite centres at Manyata Tech Park and Prestige Venus, offering ~ 80,000 sq ft. super built-up in the city. The mandate was facilitated by Zinnov, a leading global consulting firm known for helping enterprises build, scale, and transform their global capability centres (GCCs).

With this milestone, Awfis reinforces its position as India’s leading end-to-end workspace solutions provider, going far beyond offering just space. As of 30^th June 2025, with 230+ centres, more than 1.5 lakh seats across 18 cities, and a diverse portfolio of workspace formats, mobility solutions, and allied services, Awfis delivers a unified, customer-centric ecosystem designed to meet every business need. By creating vibrant, tech-enabled environments that foster productivity, collaboration, and innovation, Awfis continues to set new industry benchmarks and redefine the future of work.

Japanese companies are turning to India for GCCs: Here’s Why!

IMAGES Retail Bureau — Thu, 11 Jun 2026 11:44:14 +0000

Japanese companies are increasingly looking to India as a strategic hub for establishing Global Capability Centers (GCCs). Traditionally conservative in offshoring, these firms are now compelled by global competition, digital transformation, and talent shortages at home to explore new frontiers. India, with its proven track record as the world’s leading GCC destination, offers the right mix of scale, skill, and cost efficiency.

The most critical driver is access to talent. Japan is grappling with an ageing workforce and limited availability of digital skills, while India produces a vast pool of engineers and IT professionals annually. This talent base is not just large but also highly skilled in emerging technologies like AI, data analytics, cloud computing, and cybersecurity—capabilities Japanese companies urgently need to accelerate digital transformation.

India produces ~1.5 million STEM graduates every year; Japanese firms rate “access to India’s skilled talent pool” very highly (4.8/5 in a recent survey).
Japan is facing a severe labour shortage and population aging: as of 2025, ~30% of Japan’s population is over 65; projections estimate workforce shrinkage of ~11 million by 2040.

Cost competitiveness is another factor. Setting up a GCC in India allows Japanese firms to optimize operational expenses while gaining access to high-quality innovation. Moreover, India’s mature ecosystem of service providers, technology parks, and regulatory support makes it easier to establish and scale centers quickly.

Companies report potential operational cost savings of up to 40% by shifting GCC functions or scale to India.
Japanese labour and real estate costs are several times higher than equivalent costs in Indian cities, making India particularly attractive for functions that do not require local presence or local market exposure.

Japanese corporates are also realizing that GCCs are no longer just back offices—they are innovation engines. Many are using India-based GCCs to drive R&D, product development, and global operations, positioning them closer to key growth markets in Asia and beyond. The presence of multinational GCCs in India further reassures Japanese firms that they can replicate proven models successfully.

Japanese firms are lagging in certain digital technologies and facing rising pressure to modernize. GCCs are now being used not only for cost or support-functions but increasingly for R&D, AI/ML projects, automation, and advanced analytics.
Example: Dai-ichi Life’s new GCC in Hyderabad (in partnership with Capgemini) will focus on AI, data analytics, cybersecurity to accelerate its global digital transformation.

Finally, cultural adaptability and the growing India–Japan economic partnership make the move more attractive. With strong government-to-government ties, trade agreements, and joint initiatives in technology and infrastructure, India is emerging as a trusted partner.

India’s GCC ecosystem is mature: good infrastructure, multiple preferred hubs (Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR), regulatory support, and policies favoring innovation and R&D.
Bilateral trade and investment ties between India and Japan are strengthening; Japan is a major source of FDI in India.

Japanese firms are no longer viewing India merely as a cost arbitrage location; instead, they are treating GCCs in India as strategic innovation hubs. The combination of an abundant tech talent pool, favorable cost differentials, governmental support, and pressing domestic constraints in Japan (aging, labour shortages, rising costs) create a strong case.

As India continues to strengthen its infrastructure, policy framework, and ecosystem, more Japanese multinationals are expected to deepen investment, move upstream in value (towards R&D/engineering), and measure GCCs by performance and innovation metrics, not just cost savings.