Brookfield Invests $1 Billion in GCC Project in Mumbai
New York-based alternative asset manager Brookfield is set to invest over $1 billion (approximately Rs 9,000 crore) in establishing a global capability center (GCC) in Mumbai, marking a significant commitment to India’s growing market. This ambitious project, which will be the largest GCC in Asia, is being developed in collaboration with the Mumbai Metropolitan Region Development Authority (MMRDA). The center, located in Powai, is expected to be completed by 2029 and will create more than 30,000 jobs, further solidifying India’s position as a hub for multinational corporations.
Details of the Global Capability Center
The new GCC will span six acres in Powai and is designed to accommodate the largest GCC for a prominent multinational bank, with a commitment extending over 20 years. Brookfield’s investment reflects a broader trend of multinational corporations establishing offshore units in regions with favorable cost structures and access to a skilled workforce. Analysts from Zinnov highlight that India is rapidly becoming a hotspot for GCCs, boasting over 1.9 million professionals skilled in artificial intelligence, engineering, and product development. This influx of talent is attracting companies looking to enhance their research and development capabilities.
The GCC sector in India has seen remarkable growth, with nearly 110 new centers established between early 2024 and late 2025. While US-based firms continue to lead the charge, companies from the UK, Germany, Japan, and Denmark have also increased their investments in India, driven by the country’s robust capabilities. Major players such as Samsung, Microsoft, JP Morgan Chase, and Bosch have invested heavily in building GCCs, contributing to the expansion of India’s commercial office real estate sector.
Brookfield’s Commitment to India
Brookfield is one of the largest office space owners in India, managing approximately 55 million square feet across seven cities. Earlier this year, the company signed a memorandum of understanding with MMRDA, pledging to invest $12 billion in the Mumbai metropolitan region. This commitment underscores Brookfield’s long-term strategy in India, which includes the recent acquisition of a 2.1-acre parcel in Mumbai’s Bandra Kurla Complex (BKC) for a high-quality mixed-use development.
The company’s extensive portfolio in Mumbai exceeds $4 billion, showcasing its significant stake in the region’s real estate market. The establishment of the new GCC is expected to further enhance Brookfield’s presence and influence in India, aligning with the government’s efforts to attract high-value operations that generate skilled employment and foster economic growth.
Impact on Employment and Economic Growth
The development of the GCC is anticipated to have a substantial impact on employment in the region. With the creation of over 30,000 jobs, the center will contribute to the local economy and provide opportunities for skilled professionals in various fields. Maharashtra Chief Minister Devendra Fadnavis emphasized that the new GCC policy, introduced earlier this year, aims to build on the momentum of attracting large-scale operations that generate long-term economic benefits.
Currently, about 92% of India’s GCCs are concentrated in six major cities, including Mumbai, the National Capital Region (NCR), Bengaluru, and Hyderabad. This concentration highlights the strategic importance of these urban centers in the global business landscape. As more multinational corporations establish their presence in India, the country is poised to become a leading destination for GCCs, driving innovation and economic development in the years to come.
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