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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
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Harper Collins Publishers India is Delighted to Announce the Recent Publication of ‘People We Love’ by Preeti Shenoy
NEW DELHI, June 19, 2026 /PRNewswire/ — HarperCollins Publishers India is delighted to share the recent publication of People We Love by bestselling author Preeti Shenoy. At once tender and sharp, this collection of stories offers intimate, truthful and relatable portraits of the people we cherish, the ones we lose, and the people we become.
ABOUT THE BOOK
The people we love never truly leave our story…
In these tender yet piercing stories, Preeti Shenoy returns to some of her most beloved characters to reveal who they were before they appeared in her bestselling novels It’s All in the Planets and The One You Cannot Have.
Aniket, a coder, carries the weight of a longing for Trisha that he cannot bring himself to act on. Nidhi abandons her corporate life to teach pottery, only to discover that clay is far more forgiving than the people she loves. A quiz competition sparks an unlikely romance between Aman and Shruti, one that must withstand parental disapproval and class divides. And Anjali, a journalist, is so busy chasing stories that she almost misses the one unfolding in her own life.
Set against the pulse of contemporary India, People We Love explores the tug-of-war between duty and desire, family and freedom, who we are and who we dare to be. Intimate and deeply felt, these are stories about love that stays, leaves and almost slips away … love that quietly and irrevocably shapes the people we become.
Preeti Shenoy, author, says, “People We Love is a collection of three long stories, prequels to my bestsellers It’s All in the Planets and The One You Cannot Have. If you have read those books, you already know how these characters’ stories unfold. But what you don’t know yet is where it all began, the loves they carried, the choices they made, and the people they were before life shaped them into who you met on those pages. Writing these prequels felt like returning to a home I hadn’t realised I missed, and discovering rooms I had never been in before.”
Rashmi Menon, Associate Publisher – HarperCollins India, adds, “Preeti Shenoy has an extraordinary gift for finding the heartbeat of ordinary lives. People We Love is a warm, wise and deeply humane collection of short stories that reunites readers with favourite characters from her bestselling novels It’s All in the Planets and The One You Cannot Have, weaving them into fresh, deeply satisfying narratives. These characters feel like people you know, and their journeys will move, comfort and surprise you. This uplifting, thought–provoking collection reminds us why we turn to stories in the first place. We couldn’t be more excited to share it with our readers.”
ABOUT THE AUTHOR
Preeti Shenoy is among the highest-selling authors in India. She was featured on the Forbes longlist of the most influential celebrities in India. Her books include When Love Came Calling, Wake Up Life, Is Calling, Life Is What You Make It, The Rule Breakers, A Hundred Little Flames, It’s All in the Planets, Why We Love the Way We Do, The Secret Wish List, The One You Cannot Have and many others. Her work has been translated into many Indian languages. Preeti is also a motivational speaker, an avid fitness enthusiast, and an artist specializing in portraiture and illustrated journalling. Preeti lives in Bengaluru, Karnataka.
ABOUT HARPERCOLLINS PUBLISHERS INDIA
At HarperCollins Publishers India, we believe in telling the best stories and ensuring they reach the widest readership. We publish around 250 new books every year across 10 imprints, adding to a diverse catalogue of more than 3,000 titles in print and digital formats, with an array of genres and voices that ensure there is a book for every reader. Our authors have won some of the most prestigious literary awards, and we are proud to publish many acclaimed writers, alongside new and emerging voices shaping contemporary literature. We are also the publishers of The White Tiger by Aravind Adiga, winner of the Booker Prize 2008, and Girl in White Cotton by Avni Doshi, shortlisted for the Booker Prize in 2020, and HarperCollins India itself has been awarded “Publisher of the Year” several times. In addition, we represent some of the finest global publishers such as Harvard University Press, Lonely Planet, Oneworld, Nosy Crow, Usborne, and National Geographic Children, bringing Indian readers access to world-class books and ideas. We are also proud to be certified as a Great Place to Work for two consecutive years, a recognition of our culture, people, and values that make HarperCollins India a truly inspiring workplace.
PRESS CONTACT:
Nandini Tripathi, Manager – Marketing (Commercial)
Email: nandini.tripathi@harpercollins.co.in | Mobile: +91 9718928839
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Fulfilling PM Modi’s Dream of Atmanirbhar Bharat: India’s AI Writing Startup Kreativespace Incubated at IIT Kharagpur
- Kreativespace, an Indian AI-powered writing platform founded by Vinet Kakadea, has been incubated at IIT Kharagpur and recognized by SVNIT University, Ministry of Education under Bodhan AI Conclave also through the NVIDIA Inception Program, AWS Startup Program, and DPIIT under Startup India.
- The platform unifies 8 AI-powered writing tools, along with AI Humanizer and Message AI feature being the latest addition into a single ecosystem, so you can generate and refine content all in one place.
- The company reports more than 50,000+ signed-up users, 75,000+ anonymous users, and roughly 100,000 monthly website visitors, positioning itself as the only Indian company operating at scale in the global AI writing market.
SURAT, India, June 19, 2026 /PRNewswire/ — Kreativespace, an AI-powered writing platform, is building out its position as the only homegrown alternative in a market long dominated by international tools such as Grammarly and QuillBot. Founded by Vinet Kakadea and incubated at IIT Kharagpur, the company has aligned its growth with the broader push behind Prime Minister Narendra Modi’s Atmanirbhar Bharat (Self-Reliant India) initiative, which encourages indigenous technology development capable of competing on a global scale.
As AI adoption accelerates across India’s education, research, and enterprise sectors, Kreativespace is among a small group of Indian startups building writing technology designed to compete directly with established international platforms.
Kreativespace’s progress has been recognized by several institutions central to India’s startup and technology ecosystem. The company has been incubated at IIT Kharagpur, selected under SSIP 2.0 through SVNIT University, and chosen by the Ministry of Education to present its work at the Bodhan AI Conclave. It has also been accepted into the NVIDIA Inception Program and the AWS Startup Program, and holds DPIIT recognition under the Startup India initiative.
Where many writing-tool users rely on separate subscriptions for content generation to refinement for grammar correction, paraphrasing, plagiarism checking, citation generation, and editing, Kreativespace brings these functions into a single platform as a super-app for AI writing tools. The company says its approach centers on affordability and accessibility alongside performance, aiming to make advanced AI writing assistance available to a wider range of users regardless of geography or budget.
The idea for Kreativespace took shape while founder Vinet Kakadea was studying at New York University and Marymount University in the United States, where he experienced firsthand how students, researchers, and professionals often need multiple paid subscriptions to cover writing-related tasks. That fragmented experience led him to build a super-app offering each of these capabilities together, at a more accessible price point.
Kreativespace combines 8 AI-powered writing tools with AI Humanizer and Message AI feature being the latest addition, allowing users to generate, rewrite, refine, and humanize content without moving between separate platforms. The product is available via web platform, mobile apps on the App Store and Google Play, browser extensions for Chrome, Mozilla, and Edge, and a Google Docs add-on.
Vinet Kakadea, Founder of Kreativespace, said, “Kreativespace’s vision is to digitalize the entire Indian education ecosystem to support PM Modi’s Atmanirbhar Bharat scheme.”
About Kreativespace
Kreativespace with the Motto of Making Writing Accessible for Everyone: Kreativespace is an AI-powered writing platform built to make AI writing tools accessible, affordable, and effective for students, researchers, educators, professionals, content creators, startups, and enterprises. Founded by Vinet Kakadea, the company is incubated at IIT Kharagpur and has been recognized by AWS Startup Program, the NVIDIA Inception Program, and DPIIT under Startup India. For more information, visit kreativespace.com.
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Santokbaa Humanitarian Award 2026 Marks 20 Years of Compassion and Service
SURAT, India, June 18, 2026 /PRNewswire/ — The Santokbaa Humanitarian Award 2026, instituted by Shree Ramkrishna Knowledge Foundation (SRKKF), the philanthropic arm of Shree Ramkrishna Exports (SRK), marked 20 years of honouring individuals who have made a lasting difference through compassion, service and leadership. The awards were presented recently in Surat.
This year’s Santokbaa Humanitarian Award was conferred on Padma Shri Dr. Gullapalli N. Rao, renowned Indian ophthalmologist and Founder-Chair of the LV Prasad Eye Institute, and Padma Shri Smt. Reema Nanavaty, development worker and Director of the Self-Employed Women’s Association (SEWA). Their work has touched millions of lives through healthcare, empowerment and community development.
In a significant addition this year, SRKKF introduced the Social Entrepreneur Award to recognise leaders who combine business excellence with measurable social impact. The inaugural award was presented to Shri Srikanth Bolla, Founder of Bollant Industries, a sustainable manufacturing company known for disability-inclusive employment and environmentally responsible practices.
The event was graced by Chief Guest Shri Harivansh Narayan Singh, Hon’ble Deputy Chairman of the Rajya Sabha and Guests of Honour Shri Harsh Sanghavi, Hon’ble Deputy Chief Minister of Gujarat; along with several other distinguished personalities.
Established in 2006 by Shri Govind Dholakia, Founder & Chairman Emeritus of Shree Ramkrishna Exports Pvt. Ltd. and SRKKF, the award reflects the legacy of compassion and selfless values embodied by his mother, Santokbaa. Over the past two decades, it has become a platform to honour individuals whose lives and work continue to inspire society.
The awardees are selected through a rigorous and transparent process led by an independent jury comprising leaders from diverse fields. The 2026 jury included Shri Govindan Rangarajan, Director, Indian Institute of Science (IISc), Bengaluru; Shri A.S. Kiran Kumar, Former Chairman, ISRO; Admiral R. Hari Kumar (Retd.), Former Chief of the Indian Navy; Shri Rishabh Shroff, Partner, Cyril Amarchand Mangaldas; and Shri Shreyans Dholakia, Entrepreneur and Brand Custodian, SRK.
Addressing the gathering, Chief Guest Shri Harivansh Narayan Singh said that the SRK Foundation is carrying forward Santokbaa’s legacy to the next generation by celebrating service, sacrifice and compassion over wealth or fame. He added that the family’s effort to connect this legacy with social entrepreneurship reflects the values of nation-building.
Shri Harsh Sanghavi said the Santokbaa Award reminds us that true achievement lies not only in personal success, but in bringing light and happiness to others. Shri Govind Dholakia said his mother Santokbaa spent her life guided by truth, love and compassion, and that her values continue to inspire the family’s work. He added that the award’s 20-year journey is a tribute to changemakers whose efforts have strengthened communities across the country.
Speaking on the honour, Dr. Gullapalli N. Rao said it was a privilege to receive the recognition on behalf of all those working to expand access to quality eye care. He said restoring sight restores dignity and opportunity, and praised SRK’s world-class operational systems. Smt. Reema Nanavaty said the award belonged to the millions of women whose resilience and entrepreneurial spirit continue to inspire SEWA’s mission. She noted that when women are empowered, they become agents of change for their families and communities. Shri Srikanth Bolla said his journey has shown that limitations often exist more in perception than reality, and that the award is a reminder that with the right support, every individual can contribute meaningfully to society.
Over the past 20 years, the Santokbaa Humanitarian Award has honoured 20 of India’s most distinguished humanitarian and social leaders, including Shri Ratan Tata, His Holiness the 14th Dalai Lama, Dr. Sudha Murty, Dr. Cyrus Poonawalla, Shri Shiv Nadar, Dr. Abhay Bang and Dr. Rani Bang, Dr. Verghese Kurien, Shri Kailash Satyarthi and Shri A.S. Kiran Kumar. With the introduction of the Social Entrepreneurship Award in 2026, the milestone celebration reaffirmed the importance of empathy, service and purposeful leadership in building a better future.
About Santokbaa Humanitarian Award:
Over the past 20 years, the Santokbaa Humanitarian Award has honoured 19 of India’s most distinguished humanitarian and social leaders, including Shri Ratan Tata, His Holiness the 14th Dalai Lama, Dr. Sudha Murty, Dr. Cyrus Poonawalla, Shri Shiv Nadar, Dr. Abhay Bang and Dr. Rani Bang, Dr. Verghese Kurien, Shri Kailash Satyarthi and Shri A.S. Kiran Kumar, among other eminent personalities. In 2026, SRKKF also instituted the Santokbaa Social Entrepreneurship Award, with Shri Srikanth Bolla becoming its inaugural recipient.
As the Santokbaa Humanitarian Award completed a remarkable 20-year journey, the milestone celebration reaffirmed the enduring importance of empathy, service and purposeful leadership in shaping a better future. The journey endures, contributing to nation-building through compassion, innovation and service to humanity.
For more information, visit: https://srk.foundation/honours
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Harper Collins Publishers India is Delighted to Announce the Recent Publication of ‘People We Love’ by Preeti Shenoy
Harper Collins Publishers India is Delighted to Announce the Recent Publication of ‘People We Love’ by Preeti Shenoy
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