U.S. financial services firm Charles Schwab plans to expand the workforce at its newly opened India-based global capability centre to about 2,000 employees by the end of 2027, according to a state government statement.
The centre in the southern city of Hyderabad, inaugurated on Wednesday, will provide technology development, engineering and operational support for the firm's U.S. businesses.
Charles Schwab plans to bring some technology work currently handled by contractors in India in-house at this centre, according to the government statement.
India has emerged as the world's largest global capability centre hub, with more than 2,100 centers employing about 2.36 million people and generating nearly $100 billion in revenue, according to a 2026 report by Nasscom-Zinnov.
Financial firms including JPMorgan Chase, Wells Fargo, Barclays and American Express account for a fourth of the country's overall GCC workforce.
"Telangana currently hosts more than 475 global capability centres and expects to add another 100 over the next year," the state's Information Technology Minister Sridhar Babu told Reuters on Wednesday.
