Talks with Brookfield in final stages; eyeing $1 bn GCC investment, 45,000 job opportunities: Maharashtra CM Fadnavis

New York-headquartered Toronto-based Brookfield asset management company (AMC) is in "final stages" of negotiations with the Maharashtra government over setting up a $1 billion global capability centre (GCC) in Mumbai, the largest in Asia, chief minister Devendra Fadnavis told media on the sidelines of the Microsoft AI tour event in the maximum city.

“We have been in talks with Brookfield to set up Asia’s largest GCC in Mumbai. This will be built across 2 million square feet area that will create 15,000 direct and 30,000 indirect jobs. This is a very positive move towards our efforts to make Maharashtra the GCC Capital. We will be soon signing the MoU (Memorandum of Understanding) with them,” Fadnavis said.

“In the logistics space, we are having positive negotiations with FedEx to set up a GCC in the Navi Mumbai airport cluster,” he added.

This is not the first major investment by Brookfield AMC in India. The company has total assets under management (AUM) of approximately $30 billion out of which over $25 billion is focused on infrastructure and real estate including the East-West gas pipeline, which is India's largest privately-owned cross-country pipeline. The company expects its India portfolio to more than triple to $100 billion in the next five years, said Connor Teskey, president, Brookfield AMC, in May this year.

In January 2025, Brookfield AMC had signed a $12 billion memorandum of understanding (MoU) with the Mumbai metropolitan region development authority (MMRDA) at the World Economic Forum in Davos. The investment, spanning over 5-7 years, focuses on developing metro projects, roads, bridges, urban infrastructure, real estate, transit-oriented development, land value capture opportunities, and sustainable blue and green infrastructure.

The $1 billion dollar GCC facility is expected to built in Mumbai's Powai region spanning across 2 million square feet area. The Maharashtra government in September this year, released its GCC policy aiming to provide financial support and operational ease to attract GCC investments. The state government is aiming to add 400 new GCCs in Maharashtra by 2030, which will create almost 400,000 high-skilled jobs.

"The incentives and facilities offered to the proposed GCC units under the Maharashtra Global Capability Centre Policy-2025 are expected to generate an investment of ₹50,600 crore and approximately 4 lakh highly skilled jobs in the state," the state government said during the launch of Maharashtra GCC policy 2025.