BFSI Surges Ahead In India’s GCC Growth Story
India’s Global Capability Centers (GCCs) witnessed a major shift in leasing dynamics in Q2 2025, with the Banking, Financial Services, and Insurance (BFSI) sector emerging as the top contributor. For the first time, BFSI outpaced the technology sector, grabbing a record 44% share of leasing activity—its highest-ever quarterly tally—according to data from commercial real estate consultancy CBRE. In comparison, technology captured only 17%. This rise from a modest 8% share in 2022 signals a structural shift in India’s GCC ecosystem. Driving this leap are global banks (48%) and financial services firms (49%) rapidly expanding in Indian metros. These firms increasingly leverage India’s skilled workforce, cost efficiencies, and policy support amid an industry-wide digitisation wave. GCCs—also called Global In-house Centres or Captive Centres—continue to evolve from cost-saving units into strategic hubs. Their rise underlines India’s growing importance in the global business transformation landscape.
India housed over 1,700 GCCs in 2023-24, with this number expected to surpass 2,200 by 2030. These centres have evolved to become vital innovation engines. In FY24, GCCs generated export revenues of $64.6 billion—a 40% jump from $46 billion in FY23. CBRE’s Magazine further added, “The convergence of India’s young and skilled IT workforce, inherent cost-effectiveness, and a supportive policy environment, coupled with the rapid digitisation of the banking and financial sectors, positions India as an attractive and strategic destination for these global corporations.” With BFSI leading this change, GCCs are set to enter a new era of broad-based, value-driven expansion.
(With Inputs)
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Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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