India’s office market is poised for a major transformation, with Global Capability Centers (GCCs) expected to drive 40–50% of Grade A office demand across the country’s top seven markets in the coming years, according to Colliers India.
US firms have dominated GCC leasing activity since 2020, accounting for nearly 70% of demand, while EU and UK companies together contribute 16–20%. With ongoing trade agreements and tariff rationalization measures between India and the US, EU, and UK, Colliers anticipates a surge in foreign investments that will amplify real estate demand across technology, BFSI, engineering, manufacturing, and consulting sectors.
Annual Grade A office space uptake by GCCs could reach 35–40 million sq ft, reflecting their evolution from cost-arbitrage centers into globally integrated hubs for research, product development, advanced analytics, AI, and cloud computing.
Arpit Mehrotra, Managing Director, Office Services, Colliers India, noted: “Recent trade agreements can potentially boost foreign investments and amplify real estate demand across economic sectors including GCCs in India. We anticipate 35–40 million sq ft of annual GCC leasing, accounting for 40–50% of overall office demand.”
India’s office market has scaled up significantly post-pandemic, with GCCs contributing around 117 million sq ft of office space since 2020, representing nearly 38% of overall leasing activity. Their share has risen from under 30% a few years ago to over 40% in 2025, underscoring their role as anchors of India’s office demand.
Vimal Nadar, National Director & Head of Research, Colliers India, added: “Although GCC leasing will continue to be driven by technology, demand is likely to become broad-based, with BFSI and engineering & manufacturing firms expected to contribute 40–50% of space uptake in 2026.”
Colliers concludes that GCCs, supported by trade agreements and policy tailwinds, will remain central to India’s office market growth, cementing the country’s position as a global hub for innovation-driven capability centers.
