Telangana’s efforts to position Hyderabad as a global investment and innovation hub received a significant boost with leading Canadian banking institution Canadian Imperial Bank of Commerce announcing plans to establish a Global Capability Centre (GCC) in the city.The proposed GCC, expected to commence operations in July, is among the major investment commitments made during the Telangana Rising Global Summit 2025 that are now taking shape. Industry sources said the centre will strengthen CIBC’s global technology and financial services operations and is expected to generate more than 2,000 skilled jobs in banking technology, analytics and related domains.The CIBC will join a growing list of major Banking, Financial Services and Insurance (BFSI) firms that have established GCCs in the city, including JP Morgan Chase, UBS, WellsFargo, HSBC, American Express and Barclays among others.Officials believe CIBC’s entry could encourage more global BFSI companies to choose Hyderabad for their India operations. Recently, IPL, a Fortune 500 financial services company, also established a major GCC in the city.According to the Nasscom-Zinnov GCC Landscape Report 2026, Hyderabad has emerged as one of India’s fastest-growing GCC destinations, with nearly 450 centres currently operating in the city. The report noted that half of all leading financial services companies that established GCCs in India during 2025 selected Hyderabad as their preferred location.Meanwhile, global food and beverage major Nestle has also chosen Hyderabad for setting up its GCC. The centre, expected to be operational in the coming months, is likely to strengthen the city’s fast-moving consumer goods (FMCG) and food processing ecosystem while creating employment opportunities and supporting innovation and supply chain development.A US-based aerospace and advanced engineering company Sargad is establishing a Global Innovation Centre in Hyderabad. Company representatives had met Chief Minister A. Revanth Reddy during the World Economic Forum 2026 in Davos.The proposed innovation centre is expected to further enhance Hyderabad’s standing as a key aerospace and defence hub, complementing the city’s rapidly expanding ecosystem in advanced manufacturing, engineering and technology sectors, officials said. Published - May 31, 2026 08:07 pm IST