Maharashtra CM Fadnavis hails 45,000 jobs and green energy hub as state eyes GCC dominance.
In a major boost to Maharashtra’s ambition to become India’s GCC capital, global asset manager Brookfield has committed over $1 billion to develop Asia’s largest Global Capability Centre (GCC) in Powai, Mumbai. The 2 million square foot facility on a six-acre plot will house a marquee multinational bank’s operations under a 20-year lease, creating thousands of high-skilled jobs by 2029. Maharashtra Chief Minister Devendra Fadnavis highlighted this as a key step forward after his recent meeting with Brookfield’s Ankur Gupta.
Project Highlights
The Powai GCC stands out as a game-changer for India’s commercial real estate and tech services sector. Spanning 2 million sq. ft. of leasable space, the campus will be powered entirely by green energy sources, aligning with global sustainability goals. Developed through a partnership between Brookfield, local partner B.S. Sharma, and the Mumbai Metropolitan Region Development Authority (MMRDA), the project is set for completion in 2029. This build-to-suit tower for the unnamed multinational bank underscores Mumbai’s rising status as a preferred hub for large-scale GCCs, following Brookfield’s similar project in Pune earlier this year.
What makes this facility truly massive is its scale—billed as Asia’s largest GCC project. It builds on Brookfield’s deep roots in India, where the firm already manages over $12 billion in real estate assets and plans to triple investments to $100 billion in five years. The investment, roughly ₹9,000 crore, reflects confidence in Maharashtra’s talent pool, infrastructure, and business-friendly policies.
Massive Job Creation Impact
One of the biggest wins from this project is employment. Chief Minister Fadnavis noted it will generate over 45,000 jobs, including 15,000 direct roles in tech, finance, and support functions, plus 30,000 indirect opportunities in ancillary sectors. Other reports peg the figure at more than 30,000 jobs, emphasizing high-skilled positions that will draw talent from across India.
For Maharashtra, this means a surge in economic activity in Powai, a suburb already known for IT hubs like those of tech giants. These jobs will span software development, data analytics, banking operations, and more, fueling local economies through spending on housing, education, and services. It’s a clear signal to other multinationals: Maharashtra is open for business and ready to host world-class operations.
Leadership Meeting Sparks Momentum
The announcement gained steam after CM Fadnavis met Ankur Gupta, Brookfield’s Deputy Chief Investment Officer and Head of Asia Pacific and Middle East Real Estate, in Mumbai. Gupta praised Maharashtra’s leadership in the GCC space, stating the project validates the state’s position for large corporates and aligns with Brookfield’s focus on sustainable, high-quality workplaces. Fadnavis echoed this, calling it a testament to the state’s supportive ecosystem.
This face-to-face discussion at Mumbai’s Jio Convention Centre in Bandra Kurla Complex (BKC) sealed commitments for the Powai site, previously finalized with MMRDA. Brookfield’s growing footprint—now over $4 billion in Mumbai real estate alone—shows long-term faith in the region.
Maharashtra’s GCC Push
Maharashtra is aggressively positioning itself as India’s top GCC destination. The state launched a new GCC Policy earlier in 2025, valid till 2029-30, aiming for 400 new GCCs, 400,000 jobs, and ₹50,600 crore in investments. Incentives like land support, capital subsidies, and reimbursements are drawing firms in droves.
With over 200 GCCs already operational, Maharashtra leads nationally, thanks to its skilled workforce from IITs, IIMs, and tech institutes. Projects like this Powai GCC fit perfectly, enhancing Mumbai’s role as the financial capital while spilling benefits to Nagpur, Pune, and beyond—regions close to HappenRecently’s focus areas. The policy’s success is evident: Brookfield’s move follows recent MoUs and land deals, including a $12 billion commitment for Mumbai.
Broader Economic Ripple Effects
Beyond jobs, the $1 billion infusion will stimulate real estate, construction, and supply chains. Powai’s transformation into a premium office node could attract more banks and tech firms, boosting property values and urban infrastructure. For startups and SMEs in Maharashtra’s ecosystem, this means partnership opportunities in services, IT support, and innovation hubs nearby.
Brookfield’s track record in India—spanning offices, hotels, data centers, and renewables—adds credibility. The firm’s recent BKC land acquisition for mixed-use development shows a holistic approach to urban growth. As India’s GCC market booms, expected to hit $100 billion by 2030, Maharashtra’s strategy positions it at the forefront.
This Brookfield GCC isn’t just a building; it’s a catalyst for Maharashtra’s next growth chapter. With CM Fadnavis steering the vision and global players like Brookfield investing big, the state is set to redefine India’s global services map. Stay tuned to HappenRecently for updates on business, startups, and regional developments.
