American banking major J.P. Morgan is set to deepen its India presence with plans to establish Asia’s largest Global Capability Center (GCC) in Powai, Mumbai. The proposed 2 million sq ft campus, slated for completion by 2029, will be able to accommodate up to 30,000 employees, reinforcing India’s role as a core hub in the bank’s global operations.

The move builds on J.P. Morgan’s aggressive real estate expansion across Mumbai, Bengaluru and Hyderabad, where it has emerged as one of the most active occupiers in the BFSI segment, according to a report by New India Abroad.

Over the past two years, J.P. Morgan has leased nearly 1 million square feet across Mumbai, Bengaluru and Hyderabad, ranking it among the most active space absorbers in India’s banking, financial services and insurance sector.

J.P. Morgan’s footprint in India is already substantial. In 2018, the bank leased about 1.6 million square feet at Embassy Tech Village in Bengaluru. It has also taken around 0.94 million square feet in Hyderabad’s Knowledge City and an additional 0.5 million square feet from Salarpuria Sattva.

More recently, the bank leased a 176,000-square-foot facility in Hyderabad under a nine-year agreement valued at more than ₹250 crore annually.

With offices in Bengaluru, Hyderabad, Mumbai and the National Capital Region, J.P. Morgan employs about 55,000 people in India. The expansion underscores India’s growing dominance as a global GCC hub, driven by deep talent pools and large-scale commercial real estate capacity.

The 2 million-square-foot facility, scheduled for completion by 2029, will be capable of housing up to 30,000 employees. The project signals J.P. Morgan’s intent to make India a nerve center of its global operations.

The expansion follows the bank’s rapid real estate growth in the country. Over the past two years, J.P. Morgan has leased nearly 1 million square feet across Mumbai, Bengaluru and Hyderabad, ranking it among the most active space absorbers in India’s banking, financial services and insurance sector.

J.P. Morgan’s footprint in India is already substantial. In 2018, the bank leased about 1.6 million square feet at Embassy Tech Village in Bengaluru. It has also taken around 0.94 million square feet in Hyderabad’s Knowledge City and an additional 0.5 million square feet from Salarpuria Sattva.

More recently, the bank leased a 176,000-square-foot facility in Hyderabad under a nine-year agreement valued at more than ₹250 crore annually.

With offices in Bengaluru, Hyderabad, Mumbai and the National Capital Region, J.P. Morgan employs about 55,000 people in India. The expansion underscores India’s growing dominance as a global GCC hub, driven by deep talent pools and large-scale commercial real estate capacity.