Walmart has doubled down on its investment in India’s technology landscape by signing a lease for nearly 465,000 square feet of office space in Chennai, marking its second Global Capability Centre (GCC) in the country after Bengaluru. The move underscores the retail giant’s intent to anchor itself more firmly within India’s vibrant and growing digital ecosystem.
According to a report by Economic Times, WM Global Technology Services India Pvt Ltd has secured the premises at International Tech Park Chennai (ITPC), leasing five floors from Radial IT Park Pvt Ltd. The lease, effective from January 1, 2025, spans 60 months at a monthly rental of ₹70 per square foot — amounting to ₹3.26 crore per month, with an escalation clause of 4% annually. Walmart has also provided a six-month rental deposit, totalling ₹19.55 crore.
Chennai’s Rising Tech Clout
Experts say Walmart’s decision to establish its presence in Chennai validates the city’s emergence as a GCC powerhouse. The city’s IT corridor is increasingly seen as a hub for innovation, offering access to a rich talent pool, advanced infrastructure, and a cost-effective business environment.
Also read: India’s GCC Sector to Hit $105 Billion by 2030
The Chennai GCC will accommodate approximately 4,500 employees and support critical technology functions across Walmart’s global retail operations. The centre is expected to focus on cutting-edge domains such as data engineering, AI, cloud, and cybersecurity.
India as a Global Innovation Hub
Walmart’s growing footprint in India reflects a broader trend where global multinationals are shifting from traditional outsourcing to leveraging Indian GCCs as strategic centres of innovation. With major investments in both Bengaluru and now Chennai, Walmart is aligning its India operations not just with cost-saving goals but as a core driver of innovation and growth.
According to CBRE’s latest projections, GCCs will account for about 40% of total office space absorption across top Indian cities in 2025. This shift is propelled by companies investing in multi-functional centres, consolidating tech operations, and accelerating digital transformation.
India’s position as a global technology engine continues to strengthen — and Walmart’s expanding presence is a clear indicator of this rising momentum.
Reported by Economic Times.
