Canada’s CIBC, FMCG giant Nestle to open GCCs in Hyderabad

Hyderabad: FMCG giant Nestlé and Canadian Imperial Bank of Commerce (CIBC), one of Canada’s top five banks, are setting up their global capability centres (GCCs) in Hyderabad, adding fresh momentum to the city’s fast-expanding roster of multinational technology hubs, govt sources told TOI.

This, even as US-based aerospace and advanced engineering firm SARGAD is also all set to establish a global innovation centre in the city.

CIBC is expected to launch its Hyderabad GCC in July with a capacity to accommodate over 2,000 techies, translating an investment commitment made during the Telangana Rising Global Summit 2025 into an on-ground operation, the sources said.

The centre is expected to strengthen CIBC’s global technology and financial services capabilities and generate skilled roles in banking technology, analytics and related functions, while deepening Hyderabad’s fintech ecosystem.

CIBC’s entry comes even as a long list of financial services companies already house GCCs in Hyderabad, including JP Morgan Chase, Goldman Sachs, UBS, Vanguard, Wells Fargo, Deutsche Börse, HSBC, US Bancorp, Barclays, American Express and Zurich Insurance.

Sources said the move is also being viewed as a signal that could encourage more banking, financial services and insurance (BFSI) firms to choose Hyderabad for similar centres.

LPL Financial, a Fortune 500 financial services company from the US, recently opened a large GCC in the city, which has seen an acceleration in broader GCC growth in recent years, with the city now hosting nearly 450 GCCs and outpacing Bengaluru in attracting such centres, according to industry reports.

According to the Nasscom-Zinnov GCC Landscape Report 2026, 50% of all top financial services companies that set up their GCCs in India in 2025 chose Hyderabad.

Beyond BFSI, Nestlé’s planned GCC — expected to be launched in the coming months — is projected to strengthen Hyderabad’s FMCG and food processing ecosystem, supporting innovation and supply chain development while creating new employment opportunities, govt sources said.

SARGAD’s global innovation centre, on the other hand, will boost Hyderabad’s profile as an aerospace and advanced engineering hub. Its representatives met chief minister A Revanth Reddy during the World Economic Forum 2026 in Davos.