Hyderabad has 500+ GCCs, banks are now building for their next phase of growth

Hyderabad is home to more than 515 global capability centres (GCCs) as of Q1 2026, employing over 300,000 professionals, according to a FICCI–ANAROCK report.

The city added more than 70 GCCs in FY25, the highest among major Indian cities, taking its share of India's GCC base to around 20%. The growth is also pushing these centres beyond traditional shared-services work into technology, engineering, analytics, finance, research and other strategic functions.

That expansion is now creating a larger opportunity for banks. IndusInd Bank on Monday launched a dedicated GCC Banking vertical, bringing corporate and employee banking under a single relationship for the sector.

Banking for a more complex GCC ecosystem

IndusInd has brought together five capabilities under the new vertical — digital banking, employee banking, commercial card solutions, capital account and FEMA solutions, and foreign-currency accounts through its International Banking Unit at GIFT City.

The bank said the proposition is aimed at giving GCCs a more integrated banking setup covering their corporate, employee and cross-border requirements.

India's GCC ecosystem has grown 32% since FY2021 to 2,117 centres, according to IndusInd. Niraj Shah, country head – Corporate Banking at the bank, said the sector has changed significantly from its earlier model.

“India’s GCC ecosystem has evolved beyond traditional shared-services operations, with centres increasingly taking on technology, engineering, analytics, finance, research and other strategic functions for global organisations,” Shah said.

“As the sector continues to grow in scale and strategic importance, its banking requirements are also becoming more nuanced,” he added.

The FICCI–ANAROCK report points to a similar shift in Hyderabad. Anuj Puri, chairman, ANAROCK, said the city's GCC opportunity lies not just in attracting more centres but in moving towards “higher value functions such as research, engineering, analytics, digital operations and corporate decision making.”

Hyderabad's GCC footprint is expanding

The diversification of GCC activity is visible across sectors. Hyderabad's ecosystem now spans BFSI, pharma and life sciences, semiconductors, aerospace and defence, automotive and engineering, consumer and retail, healthcare, and media and sports technology, the report said.

The physical footprint is expanding alongside it. GCC office leasing in Hyderabad increased from 1.9 million sq ft in 2021 to 4.5 million sq ft in 2025, while GCC leasing stood at 3.05 million sq ft in H1 2026. The city has around 125 million sq ft of Grade-A office stock, according to the report.

For banks, the significance is that these centres are increasingly becoming integrated parts of global businesses rather than simply low-cost back offices. That creates requirements around employee banking, commercial cards, foreign currency and regulatory and cross-border banking support.

IndusInd's new proposition includes capital-account and FEMA solutions as well as foreign-currency accounts through its GIFT City unit, allowing GCCs to access these capabilities alongside its broader banking services.

The GCC pipeline is still growing

The opportunity is also unlikely to be limited to the existing 515-plus centres. FICCI–ANAROCK expects 50–70 additional GCCs to be established in Hyderabad within a year across technology, engineering, BFSI, life sciences, consulting and digital operations.

Over the next three to five years, the report estimates 8–12 million sq ft of incremental office demand, while GCC expansion and the growth of technology-led and higher-value corporate functions could generate more than 75,000 high-skilled jobs