India’s Global Capability Centres (GCCs) have registered an impressive 30.8% year-on-year growth in office space leasing during January–June 2025 (H1 2025), according to a new report from JLL
During this period, GCC leasing activity reached 13.85 million square feet—surpassing previous annual H1 records. The surge underscores India’s sustained role as the world’s premier destination for multinational corporations seeking to establish and expand their global capability centres
GCCs Power India’s Office Market Growth
According to the JLL report, GCCs led India’s office market in H1 2025, leasing more space than in any previous calendar year for the same period. This continues the strong momentum seen in 2024, when GCCs were the country’s largest occupier group by activity levels.
Sectors such as BFSI (Banking, Financial Services & Insurance) and Manufacturing were standout performers, collectively accounting for 55.6% of the GCC leasing volumes
Bengaluru retained its status as the primary gateway city for GCCs, representing over 41% of total demand in H1 2025.
Sectors such as BFSI (Banking, Financial Services & Insurance) and Manufacturing were standout performers, collectively accounting for 55.6% of the GCC leasing volumes
Bengaluru retained its status as the primary gateway city for GCCs, representing over 41% of total demand in H1 2025.
Sector-Wise Office Leasing Highlights
- Technology led overall leasing volumes with a 30.3% share in H1.
- Flex space providers followed with 17%, while BFSI secured 16.2% and Manufacturing held 15%.
- In Q2 2025 alone, Technology remained the largest contributor with 30.8% of leasing.
- Consulting firms were a major growth driver, recording their highest quarterly space take-up during Q2 2025
Overall, India Office Market Performance
Despite global economic headwinds, India’s office market maintained robust momentum. Gross leasing activity reached 39.45 million sq ft in H1 2025, marking a 17.6% year-on-year increase
“This exceptional performance, driven by global occupiers who account for 61.5% of quarterly transactions, puts the market on trajectory to surpass an unprecedented 80 million square ft annually,” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
India’s top seven office markets consistently delivered around 21 million sq ft of leasing per quarter over the past year, reinforcing the country’s position as a mission-critical destination in multinational corporations’ global strategies.
“This exceptional performance, driven by global occupiers who account for 61.5% of quarterly transactions, puts the market on trajectory to surpass an unprecedented 80 million square ft annually,” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
India’s top seven office markets consistently delivered around 21 million sq ft of leasing per quarter over the past year, reinforcing the country’s position as a mission-critical destination in multinational corporations’ global strategies.
Net Absorption Hits Record High
Notably, net absorption in H1 2025 also hit a new high of 23.9 million sq ft, the highest ever recorded in any H1 comparison. This growth reflects a demand driven by headcount expansion and footprint growth among occupiers.
India’s office sector has bucked global trends of workspace contraction, supported by GCC expansion, a revival in technology sector demand, and strong interest from BFSI and manufacturing sectors.
India’s office sector has bucked global trends of workspace contraction, supported by GCC expansion, a revival in technology sector demand, and strong interest from BFSI and manufacturing sectors.
Why India Remains a Top Choice for GCCs
India’s advantages include:
- Cost competitiveness
- Deep pool of skilled talent
- Improved infrastructure
- Supportive government policies
- Ease of doing business
These factors ensure that India will continue to be at the forefront of global capability centre growth in the years ahead
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