Hyderabad emerges GCC hub, surpasses major Indian cities
Surpassing major metropolitan cities such as Mumbai, Delhi, Ahmadabad, Pune and Chennai, Hyderabad emerged as the second-most preferred destination after Bengaluru for setting up these centres in the third quarter of 2023.
Hyderabad: Hyderabad has solidified its position as a burgeoning hub for Global Capability Centres (GCCs), establishing four new centres across various sectors, according to the latest ‘India GCC Trends’ quarterly analysis report released by Nasscom.
Surpassing major metropolitan cities such as Mumbai, Delhi, Ahmadabad, Pune and Chennai, Hyderabad emerged as the second-most preferred destination after Bengaluru for setting up these centres in the third quarter of 2023. Bengaluru led the pack with seven new GCCs established during the same period, the report stated.
The report delved into the specifics of the four new GCCs in Hyderabad, emphasising their vertical focus areas. In the electrical and electronics sector, one centre in Hyderabad is concentrating on advanced battery modelling and utilising machine learning for product development.
Another GCC in the retail sector is focusing on engineering design, strategic sourcing, supply chain management and IT infrastructure. Additionally, a centre dedicated to telecom and networking is focusing on next-generation hardware, software, and space-related technologies. Lastly, a GCC in the pharmaceutical sector is primarily engaged in research and production of Oligonucleotides.
Furthermore, the expansion of the established GCCs in India during Q3CY2023 saw Hyderabad and Bengaluru leading with three additional centres each. Among the notable new GCCs established in Hyderabad during the quarter are AST SpaceMobile (telecommunications), Enovix and Insud Pharma (pharmaceuticals), and Northern Tool Equipment (retail).
The headcounts for these newly established centres vary, with AST SpaceMobile, Enovix and Insud Pharma employing fewer than 50 individuals each. However, Northern Tool Equipment has a headcount exceeding 65 and plans to expand its workforce to 200 in the next two years.
Furthermore, the report revealed that the establishment of 21 new GCCs in India during Q3CY2023 marked a substantial upsurge compared to the previous quarter, which saw only nine GCCs being established.
