US Retailer-Costco to Open 1st GCC in India, Employ 1000 People
In a significant development in the Indian business landscape, US-based retailer Costco is set to open its first Global Capability Centre (GCC) in India. The GCC will be located in Hyderabad and is expected to initially employ around 1000 people, with potential future expansion. This move marks a major milestone for the company, which has already established a strong presence in the global market.
Costco’s GCC will handle technology and research functions, catering to the company’s global operations. This decision is a testament to India’s growing reputation as a hub for IT and business process outsourcing (BPO) services. The country’s skilled workforce, favorable business environment, and competitive costs have made it an attractive destination for multinational companies looking to set up their GCCs.
The news was reported by Reuters, citing sources familiar with the matter. According to the report, the GCC is expected to be operational by 2025, with the company planning to hire 1000 people initially. This number may increase in the future as the centre expands its operations.
Costco is not the only company to have established a GCC in India. Several other multinational corporations have already set up their GCCs in the country, including JPMorgan Chase, Walmart, Target, McDonald’s, and Heineken. These companies have chosen Bengaluru and Hyderabad as their destinations, citing the cities’ talent pool, infrastructure, and business-friendly environment.
The GCC at Hyderabad will be Costco’s first in the country, and it will be a significant addition to the company’s global operations. The centre will be responsible for handling various functions, including technology development, research, and innovation. The GCC will also provide support to Costco’s global operations, including its e-commerce platform, supply chain management, and customer service.
India’s IT and BPO industry has been growing rapidly over the past few decades, driven by the country’s large pool of skilled professionals and the increasing demand for outsourcing services. The country has emerged as a popular destination for companies looking to set up their GCCs, with many multinational corporations establishing operations in the country.
Costco’s decision to set up its GCC in India is a significant development, not only for the company but also for the Indian economy. The centre is expected to create a large number of jobs, both directly and indirectly, and will contribute to the growth of the Indian IT and BPO industry. The move will also provide a boost to the local economy, as the centre will source services and supplies from local businesses.
In conclusion, Costco’s decision to set up its first Global Capability Centre in India is a significant milestone in the company’s global expansion plans. The GCC will be a major addition to the company’s operations, providing support to its global business and creating a large number of jobs in the process. The centre will also contribute to the growth of the Indian IT and BPO industry, and will provide a boost to the local economy.
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