News Wire
GCCs to drive up to 50% of India office demand; US to dominate while UK & EU to gain share- says Colliers India
- US firms account for close to 70% of GCC leasing activity since 2020, followed by EU and UK companies at an 8-10% share each
- Ongoing trade agreements & deals likely to boost long-term office space demand across Technology, BFSI, Engineering & Manufacturing & Consulting sectors
- Annual Grade A office space uptake by GCCs can potentially reach 35-40 msf over the course of next few years
- Overall GCCs can drive up to 50% of India’s office space demand across the top 7 markets
BENGALURU, India, Feb. 20, 2026 /PRNewswire/ — India remains one of the fastest-growing major economies, with the IMF recently revising its GDP growth projections for 2026 upwards by 20 bps – from 6.1% to 6.3% (Jan 2026 World Economic Outlook update vs Oct 2025 update). A forecasted growth rate of 6.5% in 2027 also draws comfort from strength of domestic demand across economic sectors and recent positive developments with respect to multiple bilateral trade agreements. Free Trade Agreements (FTAs), Comprehensive Economic and Trade Agreement (CETA) and trade deals between India and the US, EU, the UK & France are in various stages of engagement and this is likely to enhance India’s long term export competitiveness and simultaneously reduce entry barriers, incentivizing global firms to expand their India operations across key sectors such as Technology, Banking & Financial Services (BFS), Engineering & Manufacturing, Consulting, etc. As global firms and capability centers from these countries increase their India footprint over the course of next few years, we envisage traction in real estate demand, particularly in Grade A offices and warehouses.
Trade agreements to fuel long-term demand across major office markets
Recent tariff rationalization and sector-specific trade facilitation measures under the anvil of ongoing bilateral engagements with the US, EU and the UK are expected to expand the market for global firms in India. In addition to enhancing the position of India as a competitive manufacturing destination in the APAC region, elimination of barriers in the service industry can potentially further attract GCCs into the country. Capability centers in India are increasingly likely to become integral centers of research, product development, engineering, advanced analytics, artificial intelligence, machine learning, and cloud computing.
Recent trade agreements & deal features: Select high impact sectors from a GCC demand (in India) perspective
|
Key sectors and segments |
Key features of Trade agreement/deal |
|||
|
Sector |
Segment |
India-US |
India-EU |
India-UK |
|
Technology |
Technology products & services |
Easing of licensing restrictions for Information Communication Technology goods |
– |
– |
|
BFSI |
Financial services |
Address discriminatory practices and barriers in digital trade |
Privileged access to financial service market in India |
– |
|
Engineering & Manufacturing |
Engineering & manufacturing goods |
Broad agreement to eliminate or reduce tariffs on all U.S. industrial goods |
Tariff reduction from 44% to 0% (electrical equipment and machinery) and 22% to 0% (iron & steel) |
– |
|
Automobiles |
Combination of quota and duty reduction mechanisms for luxury segment players |
Tariff reduction from 110% to 10%, with a quota of 250,000 vehicles per year |
Automotive tariff reduction from over 100% to as low as 10% through a tariff rate quota system |
|
|
Aircraft and components |
Intent of overall USD 500 Bn purchase including aircraft & its components by India over 5 years |
Tariff reduction from 11% to 0% for aircraft and spacecraft products |
– |
|
|
Chemicals & Pharmaceuticals |
Address long-standing barriers in medical devices |
Tariff reduction from 22% to 0% (chemicals) and 11% to 0% (pharmaceuticals) |
– |
|
|
Consulting |
Professional & Environmental services |
– |
Privileged access in India |
Provisions to promote trade in legal and environmental goods & services |
|
Source: Publicly available trade agreement & deal related documents, Industry, Colliers |
||||
“Recent trade agreements with the US, EU and UK can potentially boost foreign investments in country and amplify real estate demand across economic sectors including GCCs in India. This is likely to complement the regulatory push and ongoing policy tailwinds, boosting the annual demand for Grade A office space in India. We anticipate 35-40 million sq.ft. of annual GCC leasing, accounting for 40-50% of the overall office space demand over the course of next few years. While technology-based GCC demand from US firms can stabilize, we anticipate increasing traction from companies of EU and UK origin, especially within the engineering & manufacturing, BFSI and consulting domains,” says Arpit Mehrotra, Managing Director, Office Services, Colliers India.
GCCs account for ~40% of the Grade A office demand across top 7 cities
India’s office market has scaled up significantly in recent years with consecutive demand peaks in the post-pandemic era. This scaling up has been powered by GCCs, which have moved beyond cost-arbitrage centers and transitioned into innovation-driven globally integrated knowledge & research hubs. Of the 310 million sq ft. of cumulative office space demand since 2020, GCCs have accounted for around 117 million sq ft of office space, representing 38% of the overall leasing activity in India. In fact, the steady growth in GCC demand is evident from the increase in space uptake from around 16 million sq ft in 2020 to close to 30 million sq ft in 2025. Simultaneously, their share in India’s overall leasing activity has increased from sub 30% levels few years ago to over 40% in 2025, further adding credentials to the ongoing transformation of GCCs. Notably, GCCs headquartered in the US, EU and UK continue to drive this transformation – contributing nearly one-third of the overall office space demand in India since 2020.
Trends in Grade A gross absorption and GCC leasing
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
2020–2025 |
|
|
Total Grade A office leasing (msf) (A) |
30.3 |
33.0 |
50.3 |
58.2 |
67.2 |
71.5 |
310.5 |
|
GCC leasing (msf) (B) |
16.3 |
13.2 |
14.7 |
18.2 |
25.7 |
29.2 |
117.3 |
|
Overall GCC share (%) (C=B/A) |
54 % |
40 % |
29 % |
31 % |
38 % |
41 % |
38 % |
|
Leasing by US based GCCs (msf) (D) |
11.5 |
10.3 |
10.6 |
12.0 |
17.4 |
20.7 |
82.5 |
|
Leasing by EU based GCCs (msf) (E) |
3.1 |
1.2 |
2.1 |
3.5 |
1.8 |
0.0 |
11.7 |
|
Leasing by UK based GCCs (msf) (F) |
0.4 |
0.4 |
1.3 |
0.8 |
2.9 |
3.2 |
9.0 |
|
Total Grade A office leasing by US, EU and UK based |
15.0 |
11.9 |
14.0 |
16.3 |
22.1 |
23.9 |
103.2 |
|
Share of US, EU & UK in GCC leasing (%) (H=G/B) |
91 % |
89 % |
95 % |
90 % |
86 % |
82 % |
88 % |
|
Share of US, EU & UK based GCCs in |
50 % |
36 % |
28 % |
28 % |
33 % |
33 % |
33 % |
|
Source: Colliers |
|||||||
Distinct demand patterns across US, EU & UK based firms to accentuate occupier diversification
Interestingly, ongoing trends reveal distinct India expansion strategies of GCCs across the US, UK and EU. Demand from US headquartered GCCs continue to be dominated by Technology firms (47% share in US based GCC leasing), alongside a notable presence of BFSI companies (21% share). EU-origin companies are predominantly anchored in Engineering & Manufacturing sector, which accounts for ~60% of their GCC demand in India. Tariff concessions and secured market access in the India-EU trade agreement can indirectly boost office space demand from such firms in India. Meanwhile, UK-origin GCC demand patterns show a diversified occupier profile led by BFSI firms (29% share) and Consulting players (23% share).
Sector-wise GCC demand break-up (2020–2025)
|
US |
EU |
UK |
Others |
Overall GCCs |
|
|
Cumulative leasing (msf) |
82.5 |
11.7 |
8.9 |
14.2 |
117.3 |
|
Share in GCC leasing (%) |
|||||
|
Technology |
47 % |
14 % |
18 % |
30 % |
39 % |
|
BFSI |
21 % |
6 % |
29 % |
20 % |
20 % |
|
Engineering & Manufacturing |
11 % |
59 % |
3 % |
28 % |
17 % |
|
Healthcare |
6 % |
10 % |
6 % |
11 % |
7 % |
|
Consulting |
5 % |
2 % |
23 % |
4 % |
6 % |
|
Others |
10 % |
9 % |
21 % |
7 % |
11 % |
|
Source: Colliers |
|||||
In fact, GCC leasing is increasingly becoming broad-based, with global companies across sectors expanding their operations in India. Moreover, leasing volumes by BFSI, engineering & manufacturing, and healthcare GCCs have been on the upswing in recent years. While US GCCs have driven space uptake, accounting for nearly 70% of the total GCC demand since 2020, their share is expected to moderate over the next few years. Simultaneously, driven by the trade agreements, EU & UK based GCCs are expected to gain traction in the near-mid term.
“GCCs will continue to anchor India’s office space demand, supporting the ongoing scale-up and diversification of occupier base. With global trade frictions relatively moderating, supported by recent developments pertaining to bilateral agreements between India and its leading trade partners, we envisage positive sentiments to translate into traction across key demand drivers of Indian office market. Although GCC leasing will continue to be driven by technology sector, the demand is likely to become broad-based, with BFSI and engineering & manufacturing firms expected to contribute 40–50% of the space uptake in 2026,” says Vimal Nadar, National Director & Head of Research, Colliers India.
Overall nuanced demand patterns underscore the Indian GCC ecosystem alignment with high-value, domain-intensive functions rather than transactional back-office operations. Additionally skilled talent availability and cost arbitrage will continue to fuel expansion of capability centers in India.
About Colliers
Colliers (NASDAQ: CIGI) (TSX: CIGI) is a leading global diversified professional services company, specializing in commercial real estate services, engineering consultancy and investment management. With operations in 70 countries, our 22,000 enterprising professionals provide exceptional service and expert advice to clients. For nearly 30 years, our experienced leadership – with substantial inside ownership – has consistently delivered approximately 20% compound annual investment returns for shareholders. With annual revenues exceeding $4.5 billion and $99 billion of assets under management, Colliers maximizes the potential of property, infrastructure and real assets to accelerate the success of our clients, investors and people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Media Contact:
Sukanya Dasgupta
National Director, Marketing & Communications | India
Sukanya.dasgupta@colliers.com
+91 9811867682
Photo: https://oyefilmy.com/wp-content/uploads/2026/02/gccs-to-drive-up-to-50-of-india-office-demand-us-to-dominate-while-uk-eu-to-gain-share-says-colliers-india-1.jpg
Logo: https://mma.prnewswire.com/media/2667399/5814825/Colliers_Logo.jpg
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/gccs-to-drive-up-to-50-of-india-office-demand-us-to-dominate-while-uk–eu-to-gain-share–says-colliers-india-302692566.html
News Wire
Reliance Digital Introduces High-Performance iQOO 15R to its Nationwide Store Network
MUMBAI, India, March 11, 2026 /PRNewswire/ — Reliance Digital announces the offline retail availability of iQOO, the high-performance smartphone brand built for today’s youth and tech-forward consumers. Following strong traction in online channels, iQOO is now extending its presence into physical retail, allowing customers to experience and purchase its devices first-hand at Reliance Digital stores across India.
Known for pushing the boundaries of speed, and power, the iQOO 15R is powered by the Snapdragon 8 Gen 5, delivering exceptional speed, responsiveness, and sustained performance throughout the day. It packs iQOO’s biggest battery yet in an ultra-slim 7.90mm design, making it India’s slimmest smartphone with a 7600 mAh battery.
The device features a 6.5K IceCore VC Cooling Chamber for stable performance and runs on OriginOS 6.0 based on Android 16 out of the box, supported by 4 years of software updates and 6 years of security updates. It is also equipped with a Sony LYT-700V OIS camera, a 1.5K 144Hz AMOLED EyeCare display, and IP68 & IP69 dust and water resistance, making it a dependable daily partner for professionals on the go.
The brand’s offline expansion marks an important step in deepening consumer engagement by offering hands-on access to its devices, enabling customers to explore iQOO’s powerful performance, advanced display technology, and flagship-grade camera capabilities in a real-world retail environment.
The availability of iQOO at Reliance Digital brings together two brands driven by innovation and consumer experience. While iQOO continues to build its reputation as a performance-led smartphone brand, Reliance Digital strengthens its portfolio by offering customers access to cutting-edge technology brands through its extensive nationwide retail network.
Through engaging in-store experiences, knowledgeable staff, and immersive product demonstrations, Reliance Digital aims to help consumers better understand iQOO’s performance-first DNA. This move further reinforces Reliance Digital’s commitment to staying ahead of evolving consumer preferences and serving as a preferred destination for discovering new-age technology.
With this expansion, Reliance Digital continues to play a key role in shaping India’s consumer electronics landscape by bringing future-ready brands closer to customers, while enabling smartphone brands like iQOO to build stronger connections with a growing, performance-driven audience.
The all new iQOO 15R is now available at Reliance Digital stores nationwide.
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/reliance-digital-introduces-high-performance-iqoo-15r-to-its-nationwide-store-network-302711079.html
News Wire
Kotak Alts announces winner of the inaugural Katalyst Awards
Ms Himani Choudhary named Katalyst for the year – India’s Best Financial Content Creator; wins Rs. 25 Lakhs
MUMBAI, India, March 10, 2026 /PRNewswire/ — Kotak Katalyst Awards, a national initiative instituted to recognise excellence and responsibility in financial content creation has announced the winner of its first Katalyst edition. Kotak Alternate Asset Managers Limited (“Kotak Alts”) today announced Himani Choudhary as the winner. The winner was awarded a prize of INR 25 Lakhs, positioning Katalyst among the most meaningful recognitions for financial content creators in India.
Srini Sriniwasan, Managing Director, Kotak Alts, said, “The Kotak Alts Katalyst Awards were instituted to recognize content creators who are contributing meaningfully to financial literacy in India. As investor participation deepens, audiences are seeking clarity, context, and credibility. The response from creators was overwhelming and points to the new generation of financial educators. As the inaugural winner Ms. Himani Chaudhary, exemplifies the standard of financial communication that Katalyst seeks to encourage.”
The first edition of the Kotak Alts Katalyst Awards received over six hundred entries from across 19 states and in 8 languages, reflecting the growing role of digital creators in shaping financial awareness. Conceived in response to increasing clutter and misinformation in the financial ecosystem, Katalyst is designed to recognize creators who place accuracy, transparency, and investor interest at the core of their work.
The winning content, ‘Personal Finance & Major Finance Updates’ by Himani Choudhary, was recognised for its clarity, originality, and credibility. The jury noted the content’s ability to explain complex financial concepts in a clear and measured manner, supported by strong research and a consistent focus on investor education over virality.
To ensure a robust and transparent evaluation process, the awards framework was designed and audited by EY. The top thirty entries were assessed by an academic jury.
The top 10 finalists were subsequently evaluated by a grand jury comprising Kunal Shah, Founder and CEO of CRED; Radhika Gupta, Managing Director and CEO of Edelweiss Mutual Fund; and Alpesh Shah, Managing Director and Senior Partner at Boston Consulting Group, and chaired by Ananth Narayan, former Whole–Time Member of SEBI with extensive capital markets and regulatory experience.
The Katalyst Awards recognise financial content creators who priorities financial literacy, substance, and long–term investor interest. Through this initiative, Kotak Alts aims to encourage responsible financial communication and support the development of informed and confident investors across India.
About Kotak Alternate Asset Managers Ltd: Kotak Alternate Asset Managers Limited (‘Kotak Alts’), a part of Kotak Mahindra Group (‘Kotak’), focuses on Alternate Asset Management and Investment Advisory businesses. Kotak Alts was set up in early 2005 and has raised, managed, and advised over USD 22 billion across different asset classes, including Private Equity, Real Estate, Infrastructure, Special Situations, Private Credit, and Investment Advisory. The asset management business and investment advisory vertical are managed by independent specialist teams. For more information, visit https://www.kotakalternateasset.com/
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/kotak-alts-announces-winner-of-the-inaugural-katalyst-awards-302709187.html
News Wire
Paperpal for Life Sciences Establishes HIPAA Readiness, Strengthening Enterprise Adoption of AI in Regulated Medical and Scientific Writing Workflows
MUMBAI, India, March 10, 2026 /PRNewswire/ — Paperpal for Life Sciences, an enterprise-grade Artificial Intelligence (AI) platform by Cactus Communications, purpose-built for Medical Affairs and Life Sciences organizations, announced the completion of an assessment evaluating its operational and technical safeguards to support Health Insurance Portability and Accountability Act (HIPAA) requirements. This milestone reinforces Paperpal’s commitment to meeting the rigorous standards of security, data protection, and regulatory readiness required for regulated scientific workflows.
Growing AI use in medical affairs writing and publication workflows is intensifying scrutiny on data privacy, governance, and regulatory accountability. To support these evolving needs, Paperpal for Life Sciences has undertaken an assessment of its systems and processes to evaluate readiness to support HIPAA compliance, where applicable, and now proudly offers the option to execute a Business Associate Agreement (BAA) for Protected Health Information (PHI) and Personally Identifiable Information (PII). This offering gives customers the confidence that PHI or PII, if received, is handled securely and responsibly, in line with regulatory expectations and enterprise risk management practices.
Paperpal for Life Sciences provides AI writing, literature search, source-grounded summarization with citation support, and critical publication checks, powering medical affairs content creation under stringent data privacy and governance controls. The platform accelerates research-to-publication timelines by upto 25%, supporting faster dissemination of clinical evidence and earlier commercialization of new drugs and therapies.
Nishchay Shah, Group CTO and EVP, Products and AI at Cactus Communications, said, “As AI becomes foundational to regulated scientific and medical workflows, compliance and trust are no longer optional. Paperpal for Life Sciences’ HIPAA readiness measures reflect our secure-by-design approach to AI, strong data governance framework, and alignment with real-world enterprise and regulatory requirements. This milestone enables organizations to adopt AI at scale with confidence that their data, processes, and compliance obligations are protected .”
Elvira Dsouza, President, Cactus Life Sciences, added, “Medical Affairs and Life Sciences teams operate in highly regulated environments where scientific rigor, data privacy, and compliance are non-negotiable. HIPAA readiness positions Paperpal for Life Sciences as a trusted AI partner, one that enables organizations to accelerate evidence generation and scientific communication without compromising regulatory integrity .”
With this announcement, Paperpal for Life Sciences reinforces its position as a purpose-built, enterprise-ready AI platform for medical affairs content generation that supports innovation while meeting the highest standards of privacy, ethics, and regulatory compliance.
Media Contact:
Nidhi Amin
nidhi.amin@cactusglobal.com
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/paperpal-for-life-sciences-establishes-hipaa-readiness-strengthening-enterprise-adoption-of-ai-in-regulated-medical-and-scientific-writing-workflows-302708082.html
India Emerging as Stable Investment Anchor in Turbulent Global Economy, Say Investors at IGF Mumbai 2026
Reliance Digital Introduces High-Performance iQOO 15R to its Nationwide Store Network
Reliance Digital Introduces High-Performance iQOO 15R to its Nationwide Store Network
-
Buzz2 months agoGLOBAL PAY – A New Era in Oman’s Digital Payments Solution
-
Buzz1 month agoCASA BACARDÍ unveils its first Tropical Edition in Goa, celebrating music, culture and collective expression
-
Buzz2 months agoOTM 2026 Set to Bring the Global Travel Industry to Mumbai as India’s Outbound Market Accelerates
-
Buzz1 month agoNew report from Standard Chartered highlights optimistic corporate outlook on India’s energy transition
-
Buzz3 weeks ago70% of Indian Firms Say Cross-Border Trade Has Become Harder to Navigate
-
Buzz1 month ago‘Made in India – The story of Desh Bandhu Gupta, Lupin and Indian Pharma’ Book Launched in Mumbai
-
News Wire1 month agoShriram Life Insurance launches Zaroorat Jaisi, Policy Vaisi: A Fully AI-Created Ad Film Campaign featuring Rahul Dravid
-
Buzz1 month agoTHE LEELA CONCLUDES THE FOURTH SEASON OF #POLOINTHEPINKCITY WITH A CELEBRATION OF THE ROYAL SPORT, CULTURE AND REFINED LUXURY
You must be logged in to post a comment Login