India GCC leasing now focusing on larger spaces as demand surges: Vestian report – The Economic Times

With India quick turning into a hotspot for world functionality centres (GCC), lease offers are actually focusing extra on bigger areas, based on a latest report by industrial actual property planner Vestian. Even because the leased area elevated, the variety of GCC lease transactions fell by 4% to 305, suggesting a shift towards bigger workplace areas, the report famous. This was additionally seen in a rise in giant transactions—which refers to areas spanning 1 lakh sq. toes or extra—which rose 44% from 15.8 million sq. toes in FY24 to 22.8 million sq. toes in FY25.

Leasing workplace areas for world functionality centres (GCCs) rose by 24% within the fiscal ending March 2025, reaching 31.8 million sq. toes throughout seven main Indian cities, based on the Vestian report.

GCC models dealing with IT, finance, engineering and different providers have led to a rise in workplace demand accounting for 42% of complete office space absorption in India, in comparison with 41% final yr.

Moreover, Fortune 500 GCCs leased 13.5 million sq. toes of workplace area, accounting for 43% of the full leased space by such multinational places of work in FY25. This area elevated by 25% over the earlier yr, reinforcing India’s place as the popular vacation spot for world enterprises establishing GCCs.

ET reported on Tuesday that the federal government is engaged on a framework to broaden the presence of worldwide functionality centres (GCC) past the highest cities and is specializing in industry-academia tie-ups to create industry-ready expertise.

The ministry has arrange an industry-led panel to assist enhance the expansion of GCCs in India. The panel has representatives from Nasscom, Zinnov, ANSR, KPMG and Make investments India amongst others.

This got here after the price range announcement for a framework to advertise GCCs in rising cities, to stipulate measures for enhancing availability of expertise and infrastructure, constructing bylaw reforms and mechanisms for collaboration with {industry}.