Global alternative asset management and investment firm Brookfield, along with FedEx Corporation, plans to set up Asia’s largest Global Capability Centres (GCCs) in Mumbai, Maharashtra Chief Minister Devendra Fadnavis announced on Friday.
GCCs are offshore units that support the global operations of companies by handling functions such as information technology, finance, and research and development, enabling them to leverage global talent while reducing costs.
Fadnavis confirmed that Brookfield has finalized a six-acre plot in Powai for its GCC project.
“The Brookfield GCC will create a total of 45,000 job opportunities, including 15,000 direct and 30,000 indirect employment opportunities. It will involve an investment of more than one billion dollars. Our endeavour is to make Maharashtra the GCC capital. Soon, the state government will sign a memorandum of understanding (MoU) with the company,” Fadnavis said after meeting Brookfield Asset Management’s Managing Partner, Ankur Gupta, at the Jio Convention Centre in the Bandra Kurla Complex.
Brookfield has signed a 20-year lease with a multinational bank to set up the Powai facility. “It is expected to be completed by 2029 and will attract investments of over one billion dollars. The project is being developed through an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a Brookfield-led venture,” according to a Brookfield statement.
Fadnavis also stated that FedEx Corporation plans to base its GCC and other operations in Mumbai and Navi Mumbai. “FedEx is a major name in the logistics sector. Today, I met Vishal Talwar, Executive Vice-President, FedEx Corporation; Sri Lakshmi Tadepalli, Vice-President, FedEx Corporation; and Kami Viswanathan, President, Middle East, Indian Subcontinent and Africa (MEISA) region, FedEx. We discussed setting up a GCC and various operations in the vicinity of airports in Mumbai and Navi Mumbai. Our discussions concluded on a positive note,” Fadnavis said.
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