MUMBAI: New York-based alternative asset manager Brookfield is lining up investments worth over $1 billion (around Rs 9,000 crore) to set up a global capability centre (GCC) in Mumbai, raising its bets on India. The GCC, which will be Asia’s largest, is being developed through an agreement between Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield along with its partner (B S Sharma), the company said in a statement on Friday. The six-acre project, which will come up in Powai, is scheduled to be completed by 2029 and is estimated to create more than 30,000 jobs. The development will house the largest GCC for a marquee multinational bank spanning a 20-year term, Brookfield said.
GCCs are essentially offshore units of multinational corporations (MNCs) — they are strategically set up in regions which have efficient cost structures and a vast talent pool allowing companies to build specialised capabilities around AI and R&D. India which houses over 1.9 million professionals with expertise in AI, engineering and product spaces is fast emerging as one of the world’s GCC hotspots, said analysts at Zinnov. Between early 2024 and late 2025, nearly 110 new GCCs came up in India. While US-based companies still lead the pack, firms from the UK, Germany, Japan and Denmark have also broadened their presence in India over the last couple of years, a trend driven more by India’s capabilities. MNCs ranging from Samsung, Microsoft, JP Morgan Chase and Bosch have poured several dollars to build GCCs in India. Expansion of GCCs has emerged as one of the key growth drivers for India’s commercial office real estate sector in recent years, ratings agency ICRA said.Brookfield is one of the largest office owners and operates in India with nearly 55 million square feet across seven cities in India. Earlier this year, Brookfield had signed a memorandum of understanding with MMRDA to bring in $12 billion of investments into the Mumbai metropolitan region. In June 2025, it acquired a 2.1 acre parcel in Mumbai’s BKC to create a high-quality mixed-use property. Brookfield owns over $4 billion of real estate projects in Mumbai.“The new GCC policy we announced earlier this year, builds on this momentum and is designed to attract large-scale, high-value operations that generate skilled employment and long-term economic growth,” Maharashtra CM Devendra Fadnavis said. India’s GCCs — about 92% are currently based in six cities including Mumbai, NCR, Bengaluru and Hyderabad.
