India Becomes Strategic Hub For GCCs in Asia-Pacific: Report

Mumbai: India accounted for 47 per cent of all Asia-Pacific (APAC) office leasing volumes in 2024 -- up from 36 per cent in 2015 -- underlining the country’s strategic relevance amid trade shifts, supply chain diversification and macroeconomic headwinds, a report showed on Friday.

India’s office transaction volumes reached a record 6.68 million square meter (7.19 million square feet) in 2024, led by robust demand from Global Capability Centres (GCCs), multinational occupiers, and third-party IT service providers, according to a Knight Frank report. The report positions India as a long-term, stable hub for occupiers seeking cost efficiencies, talent depth, and infrastructure readiness, particularly in cities such as Bengaluru, Hyderabad, Pune, and Delhi-NCR.

“India’s share of Asia-Pacific’s office leasing volumes rising to 47 per cent is a testament to the country’s robust fundamentals and growing appeal as a strategic hub for global corporations,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India. “As global corporates seek operational resilience amid ongoing trade realignments, India’s real estate sector stands well-positioned to play a pivotal role in the regional growth narrative,” he added.