Multiple Indian state governments are leveraging dedicated Global Capability Centre (GCC) policies to generate over 1.1 million jobs and establish more than 1,300 new GCCs by 2031, according to a market report by CBRE South Asia Pvt. Ltd. titled “The Policy Advantage: Powering India’s GCC Growth.” The coordinated effort across key states to attract institutional investment and accelerate economic growth through targeted regulatory frameworks.
State Targets and Job Goals
States including Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh, and Andhra Pradesh have rolled out specialized GCC frameworks. Tamil Nadu has introduced unique employee incentives, while Telangana and Delhi have implemented broader regulatory systems to nurture local GCC ecosystems. Kerala is among regions advancing draft GCC proposals. The combined national goal spans over 1,380 new GCCs and roughly 1.18 million jobs between 2029 and 2031.
Karnataka leads with a target of 3.5 lakh additional jobs and 500 new GCCs by 2029. Maharashtra aims for 4 lakh jobs across 200 centers by 2030. Rajasthan plans over 200 GCCs and 1.5 lakh jobs by 2029, while Gujarat targets 250-plus centers and 50,000-plus jobs by 2030. Haryana projects over 100 centers and 30,000-plus jobs by 2031, and Madhya Pradesh targets 50-plus units and 37,000 jobs by 2029. Kerala’s draft framework seeks 80 GCCs and 1.6 lakh jobs by 2030.
Real Estate Impact and Market Trends
The policy push coincides with robust corporate real estate demand. GCCs leased over 123 million square feet of office space across India’s top nine cities from 2022 through H1 2026, with the sector’s share of total national commercial office leasing rising from 29% in 2022 to 43% in H1 2026.
Technology firms accounted for 23% of total leasing, followed by Banking, Financial Services and Insurance (BFSI) at 22%, and Engineering & Manufacturing at 16%.
Bengaluru dominates GCC leasing with over 51 million square feet from 2022 to H1 2026, representing 42% of India’s total. Hyderabad ranks second with 24 million square feet (20%), followed by Chennai, Delhi-NCR, and Pune, each with over 13 million square feet (10-11% each). Mumbai captured 4% with 5 million square feet, becoming the primary destination for BFSI occupiers.