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Maharashtra Chief Minister Shri Devendra Fadnavis has announced that global asset manager Brookfield plans to invest over USD 1 billion to develop a large global capability centre (GCC) in the state. The proposed 2 million sq ft facility, likely to come up in Mumbai's Powai area, could become the largest GCC in Asia. The project is expected to create over 15,000 direct jobs and support nearly 30,000 indirect jobs. The investment aligns with Maharashtra's GCC policy aimed at large-scale job creation and Brookfield's plan to significantly expand its India-focused assets across real estate, infrastructure, renewable energy, and private equity.
Maharashtra Chief Minister Shri Devendra Fadnavis recently announced that asset manager Brookfield is gearing up to invest more than USD 1 billion to set up a global capability centre (GCC) in the state. He explained that discussions with senior Brookfield executives resulted in a plan to create a 2 million sq ft GCC facility, which he indicated could become the largest of its kind in Asia, and potentially worldwide. Advertisement
Fadnavis noted that the upcoming hub is expected to create over 15,000 direct jobs while supporting an additional 30,000 jobs indirectly. Speaking to reporters on the sidelines of an event in Mumbai, he said the investment linked to this single project would lead to employment generation for around 45,000 individuals. He added that a formal agreement between the state government and Brookfield would be finalised in due course.
Brookfield Asset Management had outlined in May that it aimed to increase its India assets under management to USD 100 billion within five years, up from the current level of about USD 30 billion spread across infrastructure, real estate, renewable energy, and private equity.
Fadnavis highlighted that the state's GCC policy, introduced earlier this year to create four lakh new jobs, is focused on expanding such centres in the Mumbai and Pune regions. A senior official mentioned that the Chief Minister met Ankur Gupta from Brookfield, and the proposed facility is planned for the Powai area.
Global capability centres act as offshore units for multinational companies to support international operations across various functions, and entities such as Brookfield typically develop the real estate spaces that are leased to these firms.
Source - PTI
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