Brookfield to Build Asia’s Largest GCC in Mumbai with $1B Investment

Global alternative asset manager Brookfield Asset Management has announced a USD 1 billion investment to develop Asia’s largest Global Capability Centre (GCC) in Powai, Mumbai. This flagship project is set to reshape the region’s commercial landscape and significantly bolster job creation and investment appeal.

A Strategic Investment for Growth

The proposed GCC campus will span 2 million square feet on a six-acre site in Powai, making it the largest facility of its kind in Asia. Scheduled for completion by 2029, the facility will house the operations of a major multinational bank under a 20-year lease, marking it as one of the most ambitious long-term corporate commitments in the region.

Maharashtra Chief Minister Devendra Fadnavis highlighted the strategic importance of the project, noting that the investment reflects growing global confidence in the state’s business ecosystem. The development is also aligned with Maharashtra’s recently introduced GCC Policy 2025–30, aimed at attracting high-value operations and positioning the state as India’s premier destination for global service centers.

Jobs and Economic Impact

The Powai GCC is expected to be a major employment engine for the region. While earlier estimates suggested a creation of more than 30,000 jobs, state officials and industry voices point to a combined impact of up to 45,000 direct and indirect opportunities, spanning technology, finance, operations, and support functions.

Industry analysts say the project’s scale and long-term lease underscore a broader trend of multinational companies expanding their global service operations in India—driven by the country’s deep talent pool and robust economic fundamentals.

Why Powai?

Powai’s appeal lies in its connectivity, established infrastructure, and access to high-quality talent, making it a favored location for global firms seeking to expand capability centres. These factors, combined with Maharashtra’s policy incentives, have helped position the state as a preferred hub over competing regions.

Brookfield’s deputy chief investment officer for Asia Pacific and the Middle East, Ankur Gupta, reaffirmed the company’s commitment to the region following the announcement a sentiment echoed during high-level discussions in Mumbai earlier this week.

Broader Significance for India

This development comes at a time when India is rapidly emerging as a global hub for capability centres, with companies increasingly looking to leverage the country’s skilled workforce for critical business operations. The Powai GCC not only enhances Mumbai’s stature in this landscape but also signals the state’s readiness to compete on an international stage.