In a major development, US retailer COSTCO will open its first technology centre in India in Hyderabad, reported Reuters.
Citing sources, Reuters reported that COSTCO will initially employ 1000 people. The Global Capability Centre (GCC) will work alongside global teams and handle research and tech operations.
GCCs once served the purpose of low-cost outsourcing hubs for global companies. They now support parent organisations in daily operations, finance, research and development.
It must be mentioned that companies such as JPMorgan Chase, Walmart, Target, McDonald’s, Heineken and Vanguard Group have their Global Capability Centres in India.
The market size of India’s GCCs stands at $64.6 billion in fiscal year 2024.
