Brookfield Asset Management has announced a major investment of $1 billion to develop Asia’s largest Global Capability Centre (GCC) in Mumbai’s Powai. The project will cover 2 million square feet also support a multinational bank for a long-term 20-year period. It will expected to create over 30,000 jobs by 2029. This development strengthens Mumbai’s position as a leading GCC hub and reflects the confidence global companies have in Maharashtra’s business environment ecosystem.
Project Overview
- Brookfield’s infrastructure arm will develop the project across 6 acres, delivering 2 million sq ft of Grade-A workspace.
- The campus has already secured a 20-year lease from a leading multinational bank, underscoring strong global confidence in India’s GCC capabilities.
- Built under an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a Brookfield-led venture with partner B. S. Sharma, the project will follow market-leading sustainability norms, committing to 100% green power sourcing.
- Once operational, it will be Asia’s largest single GCC development, enhancing Mumbai’s appeal as a deep-talent, high-value services destination.
Maharashtra Government Vision
Maharashtra Chief Minister Devendra Fadnavis welcomed the investment, highlighting the state’s focus on talent, infrastructure, and business-friendly policies. In 2025, the state introduced a dedicated GCC Policy (valid till 2029–30), targeting,
- 400 new GCCs
- Over 400,000 high-skilled jobs
- ₹50,600 crore in incremental investment
Incentives under the policy include land allotment support, capital subsidies, and operational reimbursements. Brookfield’s decision aligns with this strategy, reinforcing Maharashtra’s ambition to attract large-scale, innovation-driven global operations.
Why Mumbai Chosen?
- Mumbai has rapidly evolved as a strategic GCC centre, particularly for the BFSI (Banking, Financial Services, and Insurance) sector.
- According to Savills India, from 2020–2024, Mumbai accounted for 8% of GCC office leasing, with Pune adding another 14%, together contributing 22% of national GCC absorption.
- Mumbai led the country in BFSI GCC leasing, despite Bengaluru having a larger BFSI talent pool.
What Its Strengthens
For Maharashtra, the campus strengthens,
- Job creation in data science, financial services, cloud engineering, cybersecurity, and emerging technologies
- The state’s visibility as a global hub for enterprise transformation
- Mumbai’s competitive edge against Bengaluru, Hyderabad, and Pune
Key Takeaways
- Brookfield to invest $1 billion in Powai to develop Asia’s largest GCC.
- 2 million sq ft campus across 6 acres, leased to a multinational bank for 20 years.
- Project to create over 30,000 jobs and complete by 2029.
- Maharashtra’s GCC Policy 2029-30 targets 400 GCCs and 400,000 high-skilled jobs.
- Brookfield aims to expand India investments to $100 billion within 5 years.
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