India’s GCC Sector Sparks Real Estate Boom, Adds 1.7 Million Jobs Since FY20
New Delhi, May 25, 2026: Global capability centres (GCCs) have transformed from basic backend support operations into the primary engine driving India’s commercial real estate market. Across the National Capital Region (NCR), Bengaluru, Hyderabad, and Pune, these centers are heavily influencing workplace design, commercial leasing, and local residential absorption.
According to data from Bengaluru-based consultancy Wizmatic, multinational IT, ITeS, and ER&D operations in India have added nearly 1.7 million jobs since FY20, bringing total employment to roughly 4.2 million. Wizmatic estimates exports from these centers reached nearly $153 billion in FY25 and projects a rise to $164 billion in FY26. Consequently, a recent CBRE India market assessment noted that GCC occupiers continued to account for a substantial share of Grade A office leasing across India’s top cities during 2025, with increasing traction visible in NCR and emerging peripheral business districts.
This scale of expansion has fundamentally altered long-term demand projections for office stock. Multinational firms are increasingly viewing India as a hub for high-value strategic functions rather than just a low-cost outsourcing destination.
“There is clearly a structural shift underway in how multinational firms are using India. Earlier expansion cycles were largely execution-oriented and heavily cost-driven. Today many GCCs are handling product ownership, analytics, compliance and strategic technology functions. Once operations move up the value chain, the occupier’s commitment to physical infrastructure also becomes deeper. Developers are therefore planning more flexible and amenity-rich office environments because tenant expectations are evolving rapidly,” said Kapil Chugh, VP Sales, Rise Infraventures Limited.
This deeper commitment has turned GCCs into highly coveted, stable tenants. Their footprint is rapidly spilling over into emerging, infrastructure-ready peripheral business districts as traditional tech corridors saturate.
“The GCC-led expansion across NCR is gradually bringing newer cities like Faridabad into sharper focus. With infrastructure upgrades such as the Delhi-Mumbai Expressway, FNG corridor and metro connectivity improving accessibility, Faridabad is emerging as a strong prospective destination for MNCs, IT/ITeS firms and organised businesses looking beyond saturated office markets for better value and long-term scalability. While the city currently houses smaller divisions and backend operations of several established companies alongside traditional businesses, the evolving infrastructure and improving urban ecosystem are steadily strengthening its appeal as a future-ready corporate and commercial hub. This shift is already visible in the growing demand for organised commercial developments and premium residential projects,” said Uddhav Poddar, CMD, Bhumika Group.
Knight Frank India, in a recent office market update, also observed that occupier interest from global firms is spreading into newer business districts where infrastructure quality and connectivity have improved over the last five years. This shift is giving rise to highly integrated mixed-use hubs that combine work, retail, and living spaces.
“At the commercial level, the impact is becoming increasingly visible in long-term office space demand. Companies operating within GCC ecosystems are showing stronger preference for organised regions where office, retail and residential infrastructure function together. This shift reflects a stronger focus on long-term operational planning, employee convenience, and ecosystem-driven growth. As a result, established business corridors with organised urban infrastructure are witnessing heightened demand and stronger occupier confidence,” said Sanchit Bhutani, Managing Director, Group 108.
Ultimately, real estate experts note that this cycle is distinct from previous technology booms because it relies on long-duration operational commitments rather than short-term outsourcing contracts. The trend is forcing a complete re-evaluation of how Indian cities are built and monetized.
“What developers are witnessing now is not merely another leasing cycle. GCC expansion is gradually influencing how urban business districts are being designed and monetised. Occupiers are seeking continuity, ecosystem depth and future scalability rather than isolated office assets. That has implications not only for commercial development but also for residential planning, retail integration and city-level infrastructure priorities,” said Mohit Batra, Regional Director, Realistic Realtors, says.
