India has solidified its position as a premier hub for global innovation, with Global Capability Centers (GCCs) occupying nearly 50% of the country’s high-quality office space. Between Q1 2023 and Q2 2024, 124 new companies, predominantly from the U.S., established GCCs in India, focusing on R&D and greenfield projects, according to Cushman & Wakefield.
Industry leaders cite India’s cost-efficient, skilled workforce as a key attraction. Sriram Khattar from DLF Rental Business emphasized that India’s abundant, affordable talent pool and Grade A++ office infrastructure make it a prime destination for multinational firms.
Alok Aggarwal of Brookfield Properties noted India’s transformation from a back-office role to a strategic innovation center, with over 15 million square feet of Brookfield’s portfolio dedicated to GCCs. Anshul Jain from Cushman & Wakefield highlighted India’s role in helping global firms achieve strategic goals through innovation and R&D.
Smaller firms are also contributing significantly, with 44% of new GCCs belonging to companies earning under USD 1 billion. Between Q1 2023 and Q2 2024, GCCs leased 28.8 million square feet, indicating sustained growth in India’s commercial real estate sector.
