Multiple Indian state governments are aiming to generate over 1.1 million jobs and set up more than 1,300 new Global Capability Centres (GCCs) by 2031, driven by dedicated GCC policies. States including Karnataka, Maharashtra, Haryana, Uttar Pradesh, Gujarat, Rajasthan, Madhya Pradesh, and Andhra Pradesh have rolled out targeted GCC frameworks to attract institutional investment and speed up growth.
Tamil Nadu has introduced specialized employee incentives, while Telangana and Delhi have implemented broader regulatory frameworks to nurture local GCC ecosystems. Several other regions, including Kerala, are formulating similar guidelines, with draft GCC proposals already in the works.
Corporate Real Estate Demand
From 2022 to the first half of 2026, Global Capability Centres (GCCs) collectively secured more than 123 million square feet of office space in India’s top nine cities. Their share of the country’s total commercial office leasing grew steadily, rising from around 29% in 2022 to nearly 43% by the first half of 2026.
This growth highlights the increasing use of GCCs by various industries. Technology companies led with 23% of total leasing, followed by Banking, Financial Services, and Insurance (BFSI) at 22%, and Engineering & Manufacturing at 16%. Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, Middle East & Africa, noted that state governments have moved swiftly to establish dedicated GCC policies.
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State-Level Targets and Policies
These policies set individual state goals that collectively aim for over 1,380 new GCCs and approximately 1.18 million new jobs between 2029 and 2031. Karnataka aims to create 3.5 lakh jobs and around 500 new GCCs by 2029, while Maharashtra targets 4 lakh jobs across about 200 centers by 2030.
Rajasthan aims for over 200 GCCs and 1.5 lakh jobs by 2029, Gujarat targets 250-plus centres and 50,000-plus jobs by 2030, while Kerala’s draft framework targets about 80 GCCs and 1.6 lakh jobs by 2030. Furthermore, Haryana projects over 100 centres and 30,000-plus jobs by 2031, and Madhya Pradesh targets 50-plus units and 37,000 jobs by 2029.
As more states offer capital expenditure support, payroll incentives, and faster regulatory approvals, real estate demand could see growth. Ram Chandnani, Managing Director of Leasing Services at CBRE India, stressed the connection between regulatory support and office space uptake, noting that state policies are increasingly driving tangible real estate demand.
GCC office space absorption remains focused on six major cities, with Bengaluru leading by securing over 51 million square feet of leasing from 2022 to the first half of 2026. Hyderabad followed with over 24 million square feet, while Chennai, Delhi-NCR, and Pune each recorded more than 13 million square feet.