Kolkata's Global Capability Centre Leasing Skyrockets 239% in 2025
Kolkata has witnessed an extraordinary surge in global capability centre (GCC) leasing activity, with gross leasing volume (GLV) jumping 239% year-on-year to reach 0.5 million square feet (5 lakh sqft) in 2025, according to the latest office market data from global real estate consultant Cushman & Wakefield. This remarkable growth comes from a base of just 0.1 million square feet (1.5 lakh sqft) in 2024, signaling a dramatic shift in corporate interest toward the eastern metropolis.
GCCs Capture 30% of Kolkata's Office Market
The numbers reveal that GCCs accounted for a substantial 30% of Kolkata's total office leasing volume in 2025, which stood at 1.7 million square feet (17 lakh sqft). This represents a sharp increase from just 9% in the previous year, highlighting the growing significance of global capability centres in the city's commercial real estate landscape.
While the absolute scale of GCC activity in Kolkata remains modest compared to traditional hubs, the year-on-year surge demonstrates improving market depth, talent-led demand, and increasing traction among global enterprises looking beyond established locations.
Major Deals and Sectoral Breakdown
Sources close to the developments confirmed that some of the significant GCC deals in Kolkata during 2025 included prominent names such as Wipro, KPMG, BDO, Standard Chartered, Accenture, Capgemini, Tata Steel, and Linde.
From a sectoral perspective, IT-BPM-led GCC demand dominated Kolkata's market, accounting for 59% of all GCC leasing activity in 2025. This was followed by telecom and media at 21%, professional services at 13%, and engineering and manufacturing at 7%.
National Context and Kolkata's Competitive Advantages
This impressive growth in Kolkata occurred against a strong national backdrop, with GCCs continuing to drive India's office market in 2025. Nationwide, GCCs recorded a leasing high of 29.3 million square feet, accounting for 33% of total GLV across the country.
The study emphasized that Kolkata's momentum was supported by the city's strong talent pool across IT, consulting, and accounting sectors. This has prompted companies to locate operations closer to skilled workforce clusters, taking advantage of improving cost-to-value dynamics.
Industry Leaders Weigh In on Kolkata's GCC Potential
Santanu Ghosh, executive director and head (east) tenant representation at Cushman & Wakefield, commented, "Kolkata is seeing a steady pick-up in GCC activity, driven primarily by its domain-specific talent base and improving cost-to-value dynamics. The increase in leasing reflects growing comfort among global occupiers, particularly professional services and IT-led firms, in establishing and scaling operations in the city."
Merlin Group MD Saket Mohta noted that while Bengaluru continues to lead in GCC leasing across India, with Pune emerging strongly, Kolkata possesses immense potential in the coming years. "We are coming up with the World Trade Center, the first World Trade Center in Bengal," he added, highlighting infrastructure developments that could further boost the city's appeal.
Primarc Group director Siddharth Pansari observed that numerous consultants and agencies are building capabilities in Kolkata to service different parts of the world. "Some local companies are also setting up GCCs for their global operations, and multinational corporations are looking at establishing GCCs here for their Southeast Asia operations," he explained.
Future Outlook and Infrastructure Needs
According to the study, a total of seven GCCs were leased in Kolkata during 2025, with an average deal size of approximately 72,626 square feet. This indicates a gradual shift toward more scalable and long-term occupier commitments in the city.
Ravindra Chanaria, chairman of Infinity Group and a pioneer in Sector V real estate, projected that at least 150 GCCs would come to India over the next five years. "We need big space and policy support to attract them," he emphasized, pointing to the infrastructure requirements necessary to sustain this growth trajectory.
The data clearly demonstrates that Kolkata is emerging as a viable alternative for global capability centres, offering competitive advantages in talent availability and operational costs while benefiting from India's broader GCC expansion.
