17% year-on-year increase in GCC leasing in India, reaching 22.5 million sq ft in FY 2023-24.
Leasing by Global Capability Centres (GCCs) in India increased by 17% year-on-year in FY 2023-24, reaching 22.5 million square feet, up from 19.2 million square feet in FY 2022-23. The growth, recorded from April 2023 to March 2024, was driven by the engineering and manufacturing, banking, financial services, and insurance sectors. In the first quarter of 2024 alone, GCCs accounted for 29% of the total office space leased in India.
May 27, 2024
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