Charles Schwab bets big on India, to scale Hyderabad workforce to 2,000 by 2027


US financial services firm Charles Schwab is expanding its Hyderabad global capability centre as it brings more technology work in-house and deepens its India operations.

US financial services firm Charles Schwab plans to expand the workforce at its newly opened global capability centre in Hyderabad to about 2,000 employees by the end of 2027, according to a statement from the Telangana government.

The centre, inaugurated on Wednesday, will provide technology development, engineering and operational support for Charles Schwab’s businesses in the US.

The company also plans to bring some technology work currently handled by contractors in India in-house at the Hyderabad centre, the government statement said.

India has emerged as the world’s largest global capability centre hub, with more than 2,100 centres employing about 2.36 million people and generating nearly $100 billion in revenue, according to a 2026 report by Nasscom-Zinnov.

Global financial firms have been among the major contributors to India’s GCC growth. Companies including JPMorgan Chase, Wells Fargo, Barclays and American Express account for about a quarter of the country’s overall GCC workforce.

Telangana is also emerging as a major hub for global capability centres. The state currently hosts more than 475 GCCs and expects to add another 100 over the next year, Telangana Information Technology Minister Sridhar Babu told Reuters.

Charles Schwab’s expansion adds to the growing presence of global financial services companies in India’s technology and operations ecosystem, as firms increasingly use GCCs to support engineering, technology and business functions.

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