Brookfield's $1 Billion Investment in Mumbai: A Game Changer for GCCs

Brookfield's Major Investment in Mumbai's Global Capability Centre

Brookfield Asset Management has announced an impressive investment of $1 billion to develop Asia’s largest Global Capability Centre (GCC) in Mumbai’s Powai area. This ambitious project will span 2 million square feet and is projected to support a multinational bank with a long-term lease of 20 years. The initiative is expected to generate over 30,000 jobs by 2029, further solidifying Mumbai’s position as a premier GCC hub.

Project Overview

Brookfield’s infrastructure division will spearhead the development across 6 acres, aiming to deliver 2 million square feet of Grade-A workspace. The campus has already secured a 20-year lease from a leading multinational bank, indicating strong global confidence in India’s GCC potential. The project is built under an agreement involving the Mumbai Metropolitan Region Development Authority (MMRDA) and a Brookfield-led consortium with partner B. S. Sharma. It will adhere to market-leading sustainability standards, committing to sourcing 100% green power.

Significance for Mumbai

Once operational, this development will stand as Asia’s largest single GCC project, enhancing Mumbai’s attractiveness as a hub for high-value services and deep talent pools. The investment illustrates the confidence that global corporations have in Maharashtra’s conducive business environment.

Maharashtra Government's Vision

Maharashtra Chief Minister Devendra Fadnavis has welcomed this major investment, emphasizing the state’s dedication to cultivating talent, improving infrastructure, and implementing business-friendly policies. In 2025, the state launched a dedicated GCC Policy, valid until 2029–30, aiming for the establishment of 400 new GCCs, generating over 400,000 high-skilled jobs, and attracting ₹50,600 crore in incremental investments. Incentives included land allotment support, capital subsidies, and operational reimbursements. Brookfield’s investment aligns with this strategic vision, reinforcing Maharashtra’s ambition to attract large-scale, innovation-driven global enterprises.

Why Mumbai Was Chosen for This Investment?

Mumbai has rapidly established itself as a strategic GCC center, especially in the Banking, Financial Services, and Insurance (BFSI) sectors. According to Savills India, from 2020 to 2024, Mumbai accounted for 8% of GCC office leasing, while Pune contributed another 14%, together representing 22% of the national GCC market absorption. Despite Bengaluru having a larger BFSI talent pool, Mumbai led the country in BFSI GCC leasing, showcasing its competitive edge.

Strengthening Maharashtra's Position

This campus development not only enhances job creation in fields such as data science, financial services, cloud engineering, cybersecurity, and emerging technologies but also elevates the state’s visibility as a global hub for enterprise transformation. It strengthens Mumbai’s competitive position against other cities like Bengaluru, Hyderabad, and Pune, setting the stage for dynamic growth in the region.

Frequently Asked Questions (FAQs)

Q1. What is the purpose of Brookfield's $1 billion investment in Mumbai?
Answer: The investment aims to develop Asia's largest Global Capability Centre, creating over 30,000 jobs and enhancing Mumbai's status as a leading GCC hub.

Q2. How long is the lease secured by the multinational bank in Mumbai?
Answer: The lease secured by the multinational bank is for a long-term period of 20 years, indicating strong confidence in the project.

Q3. What sustainability measures are included in the project?
Answer: The project commits to sourcing 100% green power and adhering to market-leading sustainability standards throughout its development.

Q4. How does the Maharashtra government support GCC development?
Answer: The Maharashtra government offers incentives such as land allotment support, capital subsidies, and operational reimbursements under its GCC policy.

Q5. What sectors will benefit from job creation in this project?
Answer: Job creation will primarily benefit sectors like data science, financial services, cloud engineering, and cybersecurity, promoting high-skilled employment opportunities.

UPSC Practice MCQs

Question 1: What is the total investment made by Brookfield Asset Management in Mumbai's GCC development?
A) $500 million
B) $1 billion
C) $1.5 billion
D) $2 billion
Correct Answer: B

Question 2: How many jobs is the GCC project expected to create by 2029?
A) 10,000
B) 20,000
C) 30,000
D) 40,000
Correct Answer: C

Question 3: Which city is hosting Asia's largest Global Capability Centre as per Brookfield's investment?
A) Bengaluru
B) Hyderabad
C) Mumbai
D) Pune
Correct Answer: C

Question 4: What is the duration of the lease secured by the multinational bank for the Mumbai GCC?
A) 10 years
B) 15 years
C) 20 years
D) 25 years
Correct Answer: C

Question 5: Which sector is predominantly targeted for job creation in the GCC project?
A) Manufacturing
B) Healthcare
C) BFSI
D) Agriculture
Correct Answer: C