Leasing by Global Capability Centres in India increases by 17%
Between 2020-2022 period, Global Capability Centres accounted for 38–43% of the total leasing, housing over 1580 operating Global Capability Centres with a talent pool of 1.66 million as of 2022.
Leasing by Global Capability Centres increased by around 17% Year on year in Fiscal year 2023-24 compared to Fiscal year 2022-23, touching 22.5 million sq ft in Fiscal year 2023-24 as compared to 19.2 million sq ft in Fiscal year 2022-23. This growth was primarily driven by key sectors such as engineering and manufacturing, BFSI and technology sectors, a report by CBRE has said.
Global Capability Centres are captive centres that handle operations (back-office functions, support functions, and contact centres) and IT support to enhance productivity. Some large companies use Global Capability Centres as a centre of excellence as well.
Bengaluru tops the list of Global Capability Centres’ leasing in India with a share of 60% followed by Hyderabad at 26% and Delhi at 9%, a CBRE report has said, adding Mumbai contributed 4% share and Pune 1%.
In January-March 2024, Global Capability Centres leased around 29% of the total office space leased in India. Notably, the total leasing in the GCC segment stood at 4.2 million sq ft in January to March 2024. Among these Global Capability Centres, engineering and manufacturing companies accounted for over a quarter of the space, with automobile firms following closely behind.
Global Capability Centres have become an important catalyst for change in the Indian office sector. With 1.3 million talent as of 2019, the sector saw a 30–35% share of total office leasing in India in 2017-2019 period with over 1250 operational Global Capability Centres
Between 2020-2022 period, Global Capability Centres accounted for 38–43% of the total leasing, housing over 1580 operating Global Capability Centres with a talent pool of 1.66 million as of 2022.
The report noted that this number may go up during the 2023-2025 period. The Global Capability Centres will account for 35–40% of the total office leasing. Moreover, India has been a leader in the growth of Global Capability Centres, expected to host over 1,900 Global Capability Centres by 2025 with a professional talent pool that exceeds 2 million.
