The 25-year-old high jumper, who claimed bronze at the London 2012 Olympics, will skipper a 17-strong British team set to face Germany, Russia, the USA and a Commonwealth Select outfit.
Grabarz is the only member of the squad to have won a medal London 2012 however 11 others competed at the Games including Yamile Aldama, Holly Bleasdale and Andrew Osagie.
Dwain Chambers, who has a fine indoor record having won world gold, silver and bronze and European gold and silver over the past five years, has also been selected to run in Glasgow.
However Grabarz revealed how he first believed it was bad news UKA head coach Peter Eriksson, Charles van Commenee's replacement in the role, was delivering before offering him the captaincy.
"It's an honour to captain your country," said Grabarz, who also won European outdoor gold as well as equaling Steve Smith's British outdoor record of 2.37m in 2012.
"When I first got call from Peter, it was a bit of a shock, I thought I'd done something wrong. But as soon as he told me, I was over the moon. Hopefully I can inspire everyone to run and jump to some good performances.
"I think with good team spirit combined with a relaxed approach, we'll see some good performances out there in Glasgow this weekend."
Britain's track and field athletes won six medals at London 2012, including four golds, however it was below van Commenee's target of eight prompting him to leave.
And Eriksson, who was the head coach of Britain's Paralympic track and field team at London 2012, wants Britain to lay down a marker for the year by succeeding in Glasgow.
"It's a great way to start the indoor season and I'm really excited about seeing British athletes competing on the track again after the winter break," said Eriksson.
"After such a successful 2012 it's really important that we keep the momentum going as we head for the World Championships in Moscow this summer and the international format in Glasgow means that we're able to come together as a team and continue to progress."
© Sportsbeat 2013