India's GCC sector adds 1.7 million jobs amid rising office space demand
New Delhi, May 25
Multinational IT, ITeS and ER&D operations in India have added nearly 1.7 million jobs to the country's job market since FY20, taking total sectoral employment to around 4.2 million, a report said on Monday.
The report from Bengaluru-based consultancy Wizmatic said exports from the centres could rise to around $164 billion in FY26 from $153 million in FY25.
Global capability centres (GCCs) are driving a growing share of commercial leasing across NCR, Bengaluru, Hyderabad and Pune, altering workplace design preferences and influencing residential absorption in several micro‑markets.
In several office corridors, especially in NCR and Bengaluru, GCC occupiers are now being viewed as more stable long-term tenants than conventional outsourcing firms.
"The GCC‑led expansion across NCR is gradually bringing newer cities like Faridabad into sharper focus. With infrastructure upgrades such as the Delhi-Mumbai Motorway, FNG corridor and metro connectivity improving accessibility, Faridabad is emerging as a strong prospective destination for MNCs, IT/ITeS firms and organised businesses," said Uddhav Poddar, CMD, Bhumika Group.
"At the commercial level, the impact is becoming increasingly visible in long-term office space demand," said Sanchit Bhutani, Managing Director, Group 108.
Companies operating within GCC ecosystems are showing a stronger preference for organised regions where office, retail and residential infrastructure function together, Bhutani said.
The report noted that GCCs are increasingly handling product ownership, analytics, compliance and strategic technology functions, deepening occupiers' commitment to physical infrastructure as operations move up the value chain.
"Occupiers are seeking continuity, ecosystem depth and future scalability rather than isolated office assets. It has implications not only for commercial development but also for residential planning, retail integration and city-level infrastructure priorities," said Mohit Batra, Regional Director, Realistic Realtors.
The report added that irrespective of AI impacting the headcount of Indian employees, the physical footprint of country's GCC economy is still expanding faster than expected.
— IANS
Reader Comments
As a software engineer in Bengaluru, I can confirm this trend. GCCs like JP Morgan and Goldman Sachs are hiring aggressively and offering much better stability than typical IT firms. The office space demand is insane though - rent in Whitefield has jumped 40% in two years! 😅
Good for the economy, but I'm worried about AI's impact. The report itself says AI might affect headcount. We need to upskill our workforce in AI, machine learning and cloud computing to stay relevant. The government should invest more in training programs.
Interesting to see Faridabad mentioned. I've been looking at commercial real estate there - the Delhi-Mumbai Motorway and metro connectivity are game changers. It could become a major hub, though infrastructure still needs work. The potential is huge.
This is fantastic for India's positioning in the global tech ecosystem. But one concern: why are we still talking about $153 million vs $164 billion? The report mentions FY26 export jump from $153 million to $164 billion? That seems like a mistake. Please clarify. Otherwise, great progress! 👍
I work at a GCC in Hyderabad and can attest to the shift towards high-value work. We're now handling global compliance and strategic product development, not just support. The physical infrastructure upgrades are real - our office now has state-of-the-art labs and collaboration spaces. This is the future of India's IT sector.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.