Vimal Nadar, National Director & Head of Research, Colliers India
GCCs in India are in the midst of a transformative phase with increasing focus on innovation-led, domain-specialized, and digitally integrated solutions catering to complex global business requirements. In line with various other state-specific GCC policies, the Maharashtra GCC Policy also provides an impetus to expansion of global enterprises in the state by offering capital subsidies, tax exemptions, grants, additional FSI, fast-track approvals etc.
The Maharashtra GCC Policy, in particular, is likely to expedite office space uptake beyond traditional hubs of Mumbai and Pune, into Tier II & III cities such as Nashik, Nagpur & Chhatrapati Sambhajinagar. Consequently, GCC leasing in the state can potentially increase from around 15 million sq.ft. in the last 5 years to 20-25 million sq.ft. in the next 5 years. Moreover, specialized GCC clusters can help broaden diversification beyond the traditional domains of Technology, Financial Services, and Automotive, extending into emerging sectors such as Defense, Aerospace, Life Sciences, and Renewable Energy.