India now hosts 2,117 Global Capability Centres, operating across 3,728 units and employing about 2.36 million professionals, according to the NASSCOM and Zinnov India GCC Landscape Report for FY2026. Together, these centres produced an estimated $98.4 billion in revenue last year. That scale explains why flexible workspace has become the fastest-moving part of the office market. For many foreign firms, the first step into the country begins with something far smaller than a campus, often a Virtual Office in Ahmedabad or a similar low-commitment base that establishes a registered presence before a single desk is leased.
The reason is practical. Before a multinational can hire staff, sign contracts, or open a bank account, it needs a legal footing. A new Company Registration in Ahmedabad, as in any Indian city, requires a registered office address, and a virtual office supplies exactly that without the burden of a full lease. This is why the entry route and the workspace decision now run in parallel. The paperwork and the property choice have effectively become one conversation.
The GCC Growth Curve
The pace matters more than the headline figure. GCC office take-up has more than doubled since early 2022, rising from roughly 0.9 million square meters to 1.9 million square meters, per Savills. Almost all of this expansion is deliberate rather than experimental:
- 96% of GCCs set up after FY2021 launched with product or portfolio mandates from day one, instead of starting as basic support units.
- NASSCOM projects the ecosystem will reach 4,300 to 4,400 centers and a workforce of 2.5 to 2.8 million by 2030.
Why GCCs Start in Flexible Space?
Flexible workspace made up 18% of leasing across India’s six largest markets in H1 2026, up from 16% a year earlier, making it the fastest-growing occupier segment, Savills reports. For a new arrival, the value lies in control rather than in reducing cost:
- Space can expand or contract as headcount changes.
- Teams can move in within weeks rather than waiting for a full office to be built out.
- The company avoids a long lease before it understands how large the Indian operation will become.
Delhi NCR and Mumbai as Flexible Workspace Strongholds
Delhi NCR recorded the sharpest change in H1 2026. Flex operators became the single largest occupier group in the region, with their leasing climbing from about 56,000 square meters to roughly 150,000 square meters, and their share of take-up rising from 10% to 26%.
Mumbai followed a similar path, where flex demand and steady GCC activity both fed a broad occupier base. Bengaluru still leads on overall share at 23%, yet the northern and western markets are where the recent acceleration is most visible.
Beyond these established markets, emerging hubs are starting to draw early interest. Ahmedabad is one of them, helped by the GIFT City financial zone nearby and by Gujarat’s push to attract capability centres. For firms testing this ground, the pattern begins even smaller, with a registered address and a virtual office in Ahmedabad before any physical space is signed.
The Wider Pull on Demand
The impact extends well beyond the workspace operator. Every new Global Capability Centre generates demand across a supporting network of firms, including:
- Compliance, payroll, and company secretarial providers who manage registration and statutory filings.
- Recruitment agencies and training vendors serving the hiring push.
- Technology and facilities startups that supply the centres themselves.
A significant number of these firms also establish themselves through flexible or virtual arrangements in their early stages, which reinforces the demand further.
Outlook for 2027
The direction appears steady. As foreign firms continue to establish Indian subsidiaries, the sequence of registering first, taking flexible space next, and committing to permanent premises later is likely to hold. Flexible workspace will remain the standard entry route, while virtual offices stay the quiet opening move in the process. On current momentum, the figure of 2,117 will look modest well before the decade ends.
