GCCs may rise from 1,700 to 2,500 by 2030 : ICRA

Rating agency ICRA has estimated that the number of Global Capability Centers (GCCs) in India wiil increase to more than 2,500 in the next five years, creating huge demand for office space.

- Press Trust of India

In 2024-25 fiscal, GCCs leased a record 24 million sq ft of Grade A office space across the top six cities, with their share in total leasing rebounding to 37% from a low of 27% in FY23, the rating agency said in a statement.

ICRA projected that GCCs would take on lease 50-55 million square feet of Grade A office space during FY26 and FY27, potentially contributing 38-40% to the total office space demand in the top six marketsBengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune.