State GCC Policies Aim to Create 1.18 Million Jobs and Establish Over 1,300 Centers by 2029-31, According to CBRE
India’s state-level policies targeting Global Capability Centres (GCCs) are set to create approximately 1.18 million new jobs and establish nearly 1,380 GCCs by the fiscal years 2029-31. According to a recent report by CBRE, this initiative indicates a significant shift in India’s commercial real estate landscape, with a notable demand for office space, exemplified by GCCs leasing over 123 million square feet across the country’s top nine cities from 2022 to the first half of 2026. The formalisation of dedicated GCC policies by various state governments has accelerated, leading to geographic diversification into tier-II and tier-III cities, with the potential to reshape the operational framework of these centres.
For the average citizen, this growth in GCCs means increased employment opportunities and potentially better local economies in previously underserved areas. As more GCCs expand into tier-II and tier-III cities, these regions will not only witness job creation but also an influx of investments in infrastructure and services. Market participants, particularly in the real estate and service sectors, are likely to benefit from enhanced business activities and demand for commercial space. Furthermore, the thrust on higher-value occupations in research and development, artificial intelligence, and cybersecurity could also foster skill development programs catering to local talent.
Looking ahead, the government’s focus will likely shift towards enhancing execution capabilities, improving infrastructure, and ensuring a robust talent pipeline in emerging cities. Policy frameworks will need to evolve from merely offering incentives to fostering faster implementation and creating large-format office assets that can accommodate growing GCC needs. Additionally, as the centre’s operations expand beyond traditional support roles into more diversified functions, there may be a corresponding increase in workforce demand, necessitating a focus on training and upskilling initiatives within these emerging sectors.
Source: The Hindu
(Expert Note: This report was independently prepared by the Wealthova Economy team.)