Indian states target 1.18 million GCC jobs and 1,380 centres by 2031
Synopsis
India's GCC story has quietly become one of the biggest commercial real estate plays of the decade. States are no longer waiting for the Centre — Karnataka, Maharashtra, UP, and eight others have already formalised dedicated GCC policies, and the numbers back the urgency: 123 million sq. ft. leased in under four years, a leasing share that nearly doubled to 43%, and a collective target of 1.18 million jobs by 2031.
Key Takeaways
Indian states collectively target 1.18 million jobs and 1,380 new GCCs by 2031 , according to a CBRE South Asia report.
GCCs leased over 123 million sq. ft. of office space across India's top nine cities between 2022 and H1 2026 .
GCC share of total office leasing rose from 29% in 2022 to 43% in H1 2026.
Karnataka , Maharashtra , Haryana , UP , Gujarat , Rajasthan , Madhya Pradesh , and Andhra Pradesh have implemented dedicated GCC policies.
Technology ( 23% ), BFSI ( 22% ), and engineering and manufacturing ( 16% ) together drove over 60% of GCC leasing activity.
Indian states are collectively aiming to create nearly 1.18 million jobs and establish approximately 1,380 new Global Capability Centres (GCCs) by 2031, propelled by a wave of dedicated state-level GCC policies, according to a report released on 14 August 2026 by CBRE South Asia. The findings underscore a structural shift in how Indian states are competing for high-value services investment.
Scale of GCC Expansion
GCCs have collectively leased over 123 million sq. ft. of office space across India's top nine cities between 2022 and the first half of 2026. Their share of total office leasing has surged from roughly 29% in 2022 to approximately 43% in H1 2026 — a near-15-percentage-point jump in under four years, signalling that GCCs have moved from a niche segment to the dominant force in Indian commercial real estate.
Which States Are Leading the Push
States including Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh, and Andhra Pradesh have already implemented dedicated GCC policies aimed at attracting investment and accelerating sector growth. Telangana, Delhi, and Tamil Nadu have adopted frameworks or incentives to encourage GCC development, while Kerala is among those that have proposed draft GCC policies. Several other states are actively exploring policy frameworks for the sector.
Sector-Wise Leasing Breakdown
Technology firms led GCC leasing activity at 23%, followed by BFSI (banking, financial services, and insurance) at 22%, and engineering and manufacturing at 16%. Together, these three verticals accounted for more than 60% of all GCC leasing between 2022 and H1 2026.
What Industry Leaders Said
Anshuman Magazine, Chairman and CEO — India, South-East Asia, Middle East and Africa, CBRE, described the pace of policy formalisation as 'unprecedented in India's commercial real estate landscape.' He noted that GCCs are 'no longer a peripheral component of India's services economy but a central pillar that states are actively competing to host, through targeted incentives, faster approvals and long-term infrastructure commitments.'
Ram Chandnani, Managing Director, Leasing Services, India, CBRE, said state policy frameworks are 'increasingly translating into real, on-the-ground real estate demand.' He added that as more states introduce dedicated capex support, payroll incentives, and faster regulatory clearances, leasing activity is responding directly. Chandnani forecast that states competing on execution speed and infrastructure readiness — rather than incentives alone — will strengthen GCC leasing across both established and emerging markets in India.
What Comes Next
With several states still in the policy-drafting stage, the competitive landscape for GCC attraction is expected to intensify through 2027 and beyond. The trajectory suggests India's office market will remain structurally anchored to GCC demand well into the next decade, with emerging cities increasingly vying for a share alongside established hubs like Bengaluru and Hyderabad.
Point of View
But the risk of incentive commoditisation is equally real. When every state offers capex support and payroll subsidies, differentiation collapses to infrastructure quality and regulatory speed — exactly what CBRE's own executives are flagging. The 1.18 million jobs target is ambitious, but it is a projection built on current policy momentum, not a guaranteed outcome. The states that will actually win GCC mandates are those that can demonstrate single-window clearances and grade-A infrastructure at scale — not just a policy document. The leasing surge is also concentrated: technology, BFSI, and engineering account for over 60% of activity, meaning the jobs pipeline is narrower than the headline figure implies.
NationPress
14 Aug 2026
Frequently Asked Questions
What are Global Capability Centres (GCCs) and why are Indian states competing for them?
Global Capability Centres are offshore units set up by multinational corporations to handle high-value functions such as technology, finance, analytics, and engineering. Indian states are competing to host them because they generate skilled employment, drive commercial real estate demand, and attract sustained foreign investment — making them a priority for economic growth strategies.
How many GCC jobs and centres are Indian states targeting by 2031?
Indian states are collectively targeting approximately 1.18 million new jobs and around 1,380 new GCCs by 2031, according to a CBRE South Asia report released on 14 August 2026. These targets are driven by dedicated state-level GCC policies introduced across more than eight states.
Which states have dedicated GCC policies in place?
Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh, and Andhra Pradesh have implemented dedicated GCC policies. Telangana, Delhi, and Tamil Nadu have adopted supportive frameworks or incentives, while Kerala is among states that have proposed draft GCC policies.
How much office space have GCCs leased in India, and which sectors lead?
GCCs leased over 123 million sq. ft. of office space across India's top nine cities between 2022 and H1 2026. Technology (23%), BFSI (22%), and engineering and manufacturing (16%) together accounted for more than 60% of that leasing activity.
How has GCCs' share of India's office leasing market changed?
GCCs' share of total office leasing in India rose from approximately 29% in 2022 to around 43% in H1 2026 — a near-15-percentage-point increase in under four years, reflecting their growing centrality to India's commercial real estate market.
