Bengaluru has solidified its position as the preferred destination for Global Capability Centers (GCCs) in India, accounting for a commanding 40% share of office space leased between 2022 and the first half of 2024. A recent report underscores the city’s unparalleled appeal to multinational corporations seeking to establish or expand their operations in the country.
Several factors contribute to Bengaluru’s dominance. The city boasts a vast and skilled talent pool, particularly in the technology and IT sectors, which is essential for GCCs to thrive. Additionally, Bengaluru’s robust startup ecosystem fosters innovation and collaboration, making it an attractive location for companies looking to tap into emerging trends. The city’s well-developed infrastructure, including its connectivity to other major cities and international destinations, further enhances its appeal.
Hyderabad follows closely behind Bengaluru, capturing a 21% share of GCC leasing activity. Other key markets such as Chennai, Pune, Delhi-NCR, and Mumbai also witnessed significant growth during this period. Combined, these six cities accounted for approximately 53 million square feet of office space leased by GCCs.
This surge in demand for office space highlights India’s emergence as a global technology powerhouse. As multinational corporations continue to invest in their India operations, the demand for prime office space in key cities is expected to remain robust.
