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Experts said the need for collaborating with the startups is going to be imperative as they can infuse fantastic innovation into the organisations

Naina Lal Kidwai, chairperson of Rothschild & Co, who is also on the board of directors of Biocon and UPL, said one of the big factors fuelling this change is ESG reporting. Companies, especially the larger ones, are seeking ratings from global firms like Moodys where one of the questions being asked is around diversity and inclusion. Indian companies also need to disclose Business Responsibility and Sustainability reporting besides adhering to integrated reporting where ESG etc, is being integrated into annual reports.

Managing costs is tricky for companies because the 'pay-as-you-go' model can get expensive with high usage, while minimum payment models need a huge upfront commitment

Around 60 percent of the total GCC leasing share in January-March 2024 was in Bengaluru followed by Hyderabad (26 percent) and Delhi NCR (9 percent). Mumbai and Pune contributed 4 percent and 1 percent each.

Get latest articles and stories on Business at LatestLY. According to the press release, this growth, recorded from April 2023 to March 2024, was largely driven by the Engineering and Manufacturing (E&M), Banking, Financial Services and Insurance (BFSI), and technology sectors. Business News | Leasing by GCC in India Surge Approx. 17 Pc YoY, Recording 22.5 Mn. Sq. Ft. in FY 2023-24.