While Bengaluru leads in talent and technology, Mumbai recorded the highest office leasing by BFSI GCCs, according to Savillis India’s latest report, Global Capability Centres: Enabling India’s Strategic Advantage.
This reflects the strength of the financial services ecosystem in India’s commercial capital.
Savills noted that Mumbai benefits from a well-established network spanning primary, secondary and tertiary financial services, making it a natural choice for BFSI-focused global centres.
Interestingly, Mumbai witnessed the highest office leasing by BFSI GCCs, even though Bengaluru leads in talent in the segment.
Bengaluru has emerged as the undisputed leader in India’s GCC real estate landscape, accounting for 42.8 million sq. ft. of office leasing between 2020 and 2024, or 38% of the national total, according to the report.
The city anchors the country’s top three GCC markets, along with Hyderabad and Pune.
Together, the three regions drove nearly 70% of India’s total GCC absorption of 112 million sq. ft. during the period, growing at a 12% CAGR, the report said.
Savills attributes Bengaluru’s dominance to its deep technology ecosystem and talent pipeline, supported by over 2.2 million STEM graduates annually.
The city continues to lead in IT-BPM GCCs, commanding 77% of leasing among the top three cities. In engineering and manufacturing, Bengaluru, Pune and Chennai together account for 78% of demand.
Looking ahead, India’s GCC office demand is projected to reach 180 million sq. ft. between 2025 and 2030 under a realistic 8.2% CAGR.
Emerging sectors such as automotive, life sciences and semiconductors are expected to further boost demand, particularly in technology-led cities.
“Green infrastructure, hybrid work models and strategic location choices will characterise the next wave of GCC expansion,” said Arvind Nandan, MD, research and consulting, Savills India.
“In India, GCC real estate is no longer just treated as a cost, but as an investment to help businesses attract talent and innovate.”
Echoing this shift, Naveen Nandwani, MD, commercial advisory & transactions, Savills India, said, “ The shift toward high-value technology, digital and innovation functions is driving the demand for future-ready workspaces.”
India currently hosts around 1,800 GCCs employing 1.9 million professionals, a number expected to rise to 2,200 GCCs and 2.8 million employees by 2030.
Core sectors such as software & IT services, BFSI, engineering & manufacturing, pharma, retail and consumer services continue to dominate, while newer clusters are gaining traction.
GCC roles in India also command a premium, with salaries 12–20% higher than those in traditional IT services, driven by demand for skills in AI/ML, data engineering, cybersecurity, intelligent automation, and cloud platforms.
Savills expects leasing momentum to remain strong, with GCCs likely to absorb around 30 million sq. ft. annually between 2025 and 2030.
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