GCC Boom Finds a Home in Co-working Spaces

Global Capability Centres (GCCs) are driving a huge shift in India's office market, turning co-working spaces from startup hubs into launchpads for multinational expansion

- By ROHIT CHINTAPALI

ON A WEEKDAY MORNING IN Bengaluru's bustling Old Airport Road corridor, a nondescript glass façade hides a new growth story in India. Inside IndiQube's Platinum Green-certified campus, rows of employees power the operations of Enphase, a US-based energy technology company. Four years ago, the company entered India, leasing a 67,000 sq. ft. space. Today, it has more than doubled to 1,43,000 sq. ft. and all of it within the walls of a co-working operator.

This is not an isolated case. Across India, co-working companies once synonymous with startups and beanbags are turning into launchpads for global giants. The country's Global Capability Centres (GCCs), offshore hubs for multinational companies, are now driving the next chapter of India's office space story.

"As GCCs scale aggressively, they require speed-to-market, operational scalability, and the agility to support unpredictable headcount growth. Flexible office environments, particularly co-working spaces, provide an ideal solution by offering swing spaces that bridge the gap until permanent office setups such as managed offices are ready," explains Alok Aggarwal, Chief Executive Officer, Brookfield Properties in India.

"This model reduces upfront capital investments, accelerates business operations, and enhances employee experience. By catering to these critical needs, flexible workspaces have become a fundamental enabler of the GCC growth trajectory in India,” he adds.

A Market in Transition

According to data from research firm UnearthInsight, India is home to around 1,700+ GCCs in FY25, a number projected to exceed 2,200 by FY30. The talent pool, already at 2 million employees, will swell to 3 million in the next five years. With GCCs adding between 80,000 and 1,20,000 seats annually, the potential windfall for flexible workspace providers could be between $170 million and $254 million in fresh revenue each year.