Brookfield’s $1 Billion Investment in Maharashtra GCC Project to Create 45,000 Jobs
Maharashtra Chief Minister Devendra Fadnavis announced on December 12 that global asset manager Brookfield will invest over $1 billion (approximately ₹9,000 crore) to build a large Global Capability Centre (GCC) in the state. The project, which will be located in Powai, Mumbai, is expected to create 45,000 jobs.
Speaking at an event in Mumbai, Fadnavis stated that discussions with Brookfield have progressed significantly, and a formal agreement will be signed soon. 'It will be more than $1 billion. One single project will create 45,000 jobs,' he emphasized.
According to a statement from Brookfield, the development is being undertaken in partnership with BS Sharma and through an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA). The GCC project will be built on a six-acre site in Powai, with plans to construct 20 lakh square feet of lettable space by 2029.
Brookfield confirmed that the proposed facility will be the largest of its kind in Asia. The company has already signed a 20-year lease with a multinational bank, and the centre’s energy needs will be met entirely through renewable power. This commitment to sustainability aligns with the company's broader goals in India.
Brookfield has been present in India for 15 years and currently manages about $30 billion in the country across real estate, infrastructure, renewables, and private equity. In May, the company outlined plans to scale its India assets under management to $100 billion over the next five years, with a pledge to invest $12 billion in the Mumbai metropolitan region.
The Powai location is particularly attractive due to its strong connectivity, social infrastructure, and deep talent pool, making it one of Mumbai’s most sought-after business districts. Fadnavis also highlighted the state’s efforts to expand GCC activity, with a dedicated policy introduced earlier this year aiming to create 400,000 new jobs, primarily in Mumbai and Pune.
A senior official confirmed that Fadnavis met with Brookfield’s Ankur Gupta to discuss the project, which will be located in suburban Powai. GCCs serve as offshore hubs for multinational corporations, supporting global operations across various functions, while developers like Brookfield provide the necessary real estate infrastructure for such centers.
This significant investment by Brookfield underscores the growing importance of India as a hub for global business operations and highlights the state of Maharashtra’s commitment to fostering economic growth and job creation.
