US retail giant Costco to open first technology centre in India

 

 

US retail giant Costco is set to open its first technology centre in India. The project will be implemented in Hyderabad. The company officials have also said that this will provide employment to 1000 people. The Global Capacity Centre, which will handle technology and research activities and work with global teams, will initially employ 1000 people, but will be expanded later, company sources said.

Once low-cost outsourcing centres for global firms, Global Capacity Centres have evolved in the last few years. Now, GCCs help global firms in multiple functions including day-to-day operations, finance and research. They run Global Capacity Centres (GCCs) from India, which is one of the major hubs of some of the world's leading companies. Companies like JPMorgan Chase (JPM.N) are among them. Walmart (WMT.N) and Target (TGT.N) are opening new centers