Maharashtra's GCC Policy to Boost Commercial Realty and Job Creation
Maharashtra’s new Global Capability Centre (GCC) policy is set to stimulate office markets in Mumbai and Pune, creating 400,000 jobs by 2030. The policy offers fiscal incentives, infrastructure support, and skill development initiatives to attract multinational corporations.
Gcc PolicyCommercial Real EstateJob CreationMumbaiPuneReal Estate MumbaiOct 05, 2025
According to government data, India currently hosts over 1,600 GCCs, employing more than 1.7 million professionals. A substantial share of these GCCs is located in Mumbai and Pune, which together account for over 250 million sq ft of office stock out of India’s total nearly 900 million sq ft.
Multinationals are increasingly viewing India as a strategic hub rather than just a cost centre. Maharashtra’s proactive policy is expected to translate into higher office absorption across Mumbai, Pune, and emerging corridors like Thane, Navi Mumbai, and Nagpur. The focused push will not only attract new entrants but also drive large-scale expansions by existing players seeking to move up the value chain, said Alok Aggarwal, MD & CEO of Brookfield India Real Estate Trust. This is expected to create sustained demand for premium, tech-enabled office spaces, further deepening the institutionalisation of the commercial real estate market.
The new policy aims to attract more multinationals to set up GCCs through fiscal incentives, single-window clearances, and infrastructure support, while promoting skill development in partnership with academia and industry. Talent availability remains the biggest draw for GCCs. By integrating industry needs with academic curricula, Maharashtra can attract higher-end centres in product engineering, research, and digital transformation. The shift toward high-value GCCs is expected to translate into demand for large, high-quality office spaces in prime business districts and well-connected suburban corridors, driving fresh absorption and sustained rental growth, according to Abhay Chandak, Vice President of NAREDCO Maharashtra.
GCCs have emerged as a key driver of office space demand across India, accounting for nearly 40% of total annual leasing. In the first nine months of 2025 alone, GCC-led transactions have crossed 50 million sq ft, an 8% increase from the previous year, underscoring their growing role in shaping the commercial real estate market.
The policy is likely to drive office space demand in the MMR, Pune, and tier-2 cities like Nagpur and Nashik. Pune, which already has a strong base of technology and R&D centres, is expected to be a key beneficiary. Mumbai, with its financial services strength, could see GCCs focusing on banking, capital markets, and fintech-related operations.
The state government has targeted the creation of around 400,000 jobs by 2030 through the GCC policy. It plans to roll out structured training and reskilling programmes focused on areas such as artificial intelligence, cybersecurity, data engineering, and design to align with GCC workforce requirements.
Frequently Asked Questions
What is the Global Capability Centre (GCC) policy?
The GCC policy is a government initiative aimed at attracting multinational corporations to set up captive centres in India. It offers fiscal incentives, infrastructure support, and skill development programs to facilitate this.
How many jobs is the GCC policy expected to create by 2030?
The GCC policy is expected to create around 400,000 jobs by 2030 in Maharashtra.
Which cities are expected to benefit the most from the GCC policy?
Mumbai, Pune, Thane, Navi Mumbai, and Nagpur are expected to benefit the most from the GCC policy.
What sectors are expected to drive the demand for office spaces under the GCC policy?
The banking, financial services, technology, and engineering sectors are expected to drive the demand for office spaces under the GCC policy.
What kind of skill development initiatives are part of the GCC policy?
The GCC policy includes structured training and reskilling programmes focused on areas such as artificial intelligence, cybersecurity, data engineering, and design to align with GCC workforce requirements.
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