Blitz Bureau
NEW DELHI: Indian states aim to create nearly 1.18 million jobs and establish roughly 1,380 new Global Capability Centres (GCCs) by 2031, driven largely by dedicated state GCC policies, a report said on August 14.
The report from CBRE South Asia said GCCs have leased over 123 million sq. ft. of office space across India’s top nine cities between 2022 and the first six months (H1) of 2026.
States including Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh and Andhra Pradesh have implemented dedicated GCC policies to attract investment and accelerate sector growth.
Telangana, Delhi and Tamil Nadu have adopted frameworks or incentives to encourage GCC development, the report added.
Several other states are also exploring policy frameworks for the sector, with Kerala among those that have proposed draft GCC policies.
GCCs’ share of total office leasing rose from about 29 per cent in 2022 to around 43 per cent in H1 2026.
Sector-wise, technology, BFSI and engineering & manufacturing together accounted for more than 60 per cent of leasing activity, at 23 per cent, 22 per cent and 16 per cent respectively.
“The speed at which state governments have moved to formalise dedicated GCC policies is unprecedented in India’s commercial real estate landscape,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE.
