India's GCC Boom: A New Chapter Beyond Major Cities

India aims to add 1.18 million new jobs and nearly 1,380 GCCs by 2029-31, expanding beyond established hubs into tier-II and tier-III cities. The CBRE report highlights the role of state policies, geographic diversification, and evolving GCC functions in the sector's growth.

India is set to witness significant expansion in its Global Capability Centres (GCCs) sector, targeting the creation of 1.18 million new jobs and 1,380 new GCCs by the end of the decade, a report by CBRE indicates. The report suggests that this growth will not be limited to traditional hubs, but will extend into tier-II and tier-III cities.

Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa at CBRE, noted the unprecedented speed at which state governments have developed dedicated policies for GCCs. Currently, most GCC operations are concentrated in Bengaluru, Hyderabad, Chennai, Delhi-NCR, and Pune, but geographic diversification is becoming a key factor for sustainable growth.

The report also highlights that while 94% of India's GCC workforce is in tier-I cities, there's a shift due to supportive central and state policies and infrastructure development. This shift is leading to increased demand for large-format office spaces and fostering innovation in areas like AI, data, and product development.