Costco Wholesale Corp., the U.S. retail giant, is set to establish its first technology center in Hyderabad, India, as confirmed by two sources familiar with the plans, according to Reuters.
The new Global Capability Center (GCC) will focus on technology and research operations, working closely with global teams. Initially, the center will create 1,000 jobs, with plans for future expansion, sources indicated.
Once primarily seen as low-cost outsourcing sites, GCCs have evolved significantly over the years. They now play a vital role in supporting their parent companies across various functions, including daily operations, finance, and research and development.
India is already a hub for numerous top global brands with GCC operations, including JPMorgan Chase, Walmart, and Target based in Bengaluru, while Hyderabad is home to McDonald’s, Heineken, and Vanguard Group.
According to a recent report by Nasscom and consulting firm Zinnov, the market size for India’s GCCs is projected to grow to between $99 billion and $105 billion by 2030, up from $64.6 billion in fiscal 2024.
