India to host 2,400+ GCCs, 2.8Mn jobs by 2030: FICCI–ANAROCK report
MUMBAI, INDIA — India is poised to cement its position as a global hub for multinational back-end and innovation operations, with more than 2,400 Global Capability Centers (GCCs) expected to operate in the country by 2030, employing over 2.8 million professionals, according to a joint report released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and property consultancy ANAROCK.
The report, titled Workplaces 2025: India Commercial Real Estate Reimagined, was presented at the third edition of the FICCI Commercial Real Estate Conclave in Bengaluru. It highlights how GCCs are expanding their influence over Indian employment patterns and the commercial real estate sector.
The report showed that India had more than 1,700 operating GCCs, which employed 1.9 million workers by the end of 2024, while the market reached a valuation of US$64 billion.
GCC market valuation to hit $110Bn driven by tech demand
“Over the years, India’s GCC landscape has expanded rapidly, with its market size rising from $30 billion in 2019 to around $64 billion in 2024,” said Anuj Puri, Chairman, ANAROCK Group, in a report from The Hindu Businessline.
The report projects further acceleration. “The Indian GCC market is projected to reach $105–110 billion by 2030, growing at a compound annual growth rate (CAGR) of 10 per cent,” Puri said, citing India’s cost efficiency, skilled workforce, and ability to attract global talent.
The report states that multiple sectors are currently driving the market demand, which include information technology (IT), IT-enabled services, banking, financial services, healthcare, life sciences, engineering research and development.
India’s commercial real estate trends: GCCs dominate leasing
The current workforce at GCCs functions as the primary force that drives their operations in the Indian commercial real estate market. The report showed that GCCs leased more than 40% of all office space in seven major Indian cities in 2025. The total leased space for the year reached 80.5 million sq. ft. while GCCs claimed more than 32.5 million sq. ft. of that total.
Bengaluru maintained its market leadership position by operating more than 875 centers, which accounted for 29% of the national total and delivered more than one-third of total GCC leasing activity in 2025.
While Pune, Delhi, and Hyderabad achieved substantial market shares and expansion now extends to Tier-2 cities, which include Jaipur, Indore, Kochi, Surat, and Coimbatore.
“India’s office real estate market is no longer a cost line to be managed. Today, it is a strategic lever shaping where global capital is deployed and where high-value jobs are created,” said Raj Menda, Chairman of the FICCI Committee on Urban Development and Real Estate.
The findings signal a deeper shift in global outsourcing strategies. As corporations move beyond traditional back-office functions toward high-value digital, R&D, and analytics work, India’s GCC ecosystem is evolving into a strategic extension of global enterprises, reinforcing the country’s role not just as an outsourcing destination but as a core driver of multinational growth.
