Bengaluru Leads the Way in Global Capability Centres Leasing in India
Bengaluru's talent pool, technology ecosystem, and startup landscape make it a hub for Global Capability Centres
BengaluruGlobal Capability CentresIndiaOffice LeasingTechnologyReal Estate PuneAug 05, 2024
Bengaluru's dominance in the GCC leasing market can be attributed to its robust talent pool, mature technology ecosystem, and thriving startup landscape. These factors have made the city an attractive destination for GCCs looking to set up shop in India.
The report highlights that Hyderabad accounted for the second highest leasing activity by GCCs, with a 21% share. Chennai and Pune followed closely, with 14% and 12% shares, respectively. The growth of GCCs in India has been driven by a skilled workforce, cost efficiency, and a conducive business climate.
The future looks promising for GCCs in India, with the life sciences, automobiles, and aerospace sectors expected to expand their presence in the country. With a strategic roadmap for 2024 GCC development, India is poised to spearhead the next wave of globalization.
Historically, technology and BFSI corporates have been the primary GCC office occupiers in India. However, there is a shift towards niche firms, including hedge funds and private equity firms, expanding their presence in India. Life sciences and engineering and manufacturing GCCs are also exhibiting an increasing appetite for expansion in the country.
Regional trends suggest that Bengaluru's lead amongst the six cities is due to its dominant talent pool, mature technology ecosystem, and thriving start-up landscape. While technology and BFSI sectors remain the primary demand drivers, retail, aerospace, semiconductor, and life sciences companies are establishing niche GCCs.
Karnataka's upcoming GCC policy is expected to catalyze GCC setups and job creation in Bengaluru.
Frequently Asked Questions
What is the leading city in India for Global Capability Centres leasing?
Bengaluru
What are the factors that contribute to Bengaluru's dominance in the GCC leasing market?
Robust talent pool, mature technology ecosystem, and thriving startup landscape
Which sectors are expected to expand their presence in India in the future?
Life sciences, automobiles, and aerospace
What is the expected outcome of Karnataka's upcoming GCC policy?
Catalyzing GCC setups and job creation in Bengaluru
What is the share of GCC leasing activity in Bengaluru between 2022 and H1 2024?
40%
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