India has emerged as the cradle of global R&D and innovation, especially in the tech segment, given its long standing and established credentials as an outsourcing/offshoring hub. The evolution of the Global Capability Centre ecosystem has played a significant role in India’s capability enhancement and global recognition as an innovation hub. The initial drivers that established this system were access to the large talent pool and affordable costs - for both talent and real estate. Even the work being offshored was more tactical - payroll, HR, back-office operations, and sales support.

As the services sector has evolved and India has emerged at the forefront of tech-driven innovation, GCCs have moved up the value chain as well. With strategic R&D and business innovation related workstreams taking centre stage, more and more global firms have looked at tapping into the country for driving the next stage of their business growth. Now, India is globally recognized as a leader in delivering operational excellence and product innovation across all conceivable service domains spread across the technology, engineering, finance and consulting sectors. The associated growth in the spread of GCCs, with global firms making a beeline for Indian shores, is also a contributory factor to the resilience in office markets.
 

In this report, we look at the evolution of GCCs, from contact centres to centres of excellence, and their spatial spread. Industry and continent shares of GCCs tell us which segments and geographies are driving the GCC growth in India. Pre-commitments and active space demand is giving us a window into the future, which continues to look robust. We hope this report serves as a guide for landlords/ developers, investors and GCCs – both existing and those planning to expand in India, to derive actionable insights from the perspective of real estate planning.