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India’s rising economic influence in the last two to three years has boosted the confidence of GCCs and attracted them to key markets in the country including Bengaluru, Mumbai, Hyderabad, Pune and Chennai. Interestingly, unlike the pre-Covid period (when most of these GCCs were largely eyeing the IT/ITeS and BFSI sectors), their focus is now shifting on other sectors including engineering and manufacturing.
This is due to various factors including the growing prominence of India as a global economic hub, the government’s incessant focus on ‘Make in India’ initiative and other policies, overall improved infrastructure and boosted connectivity via airports, railways etc.”
Union Budget 2025-26 further strengthened the government’s commitment to attracting the GCCs in India by announcing the introduction of a national guidance framework to help states attract and promote GCCs, strengthening India’s position as a global business hub. Given India’s rising economic influence, this move is expected to fuel office space demand beyond the major metros to Tier 2 and Tier 3 cities as well.
