Charles Schwab to scale India centre workforce to 2,000 by 2027

According to a state government statement cited by Business Recorder, Charles Schwab intends to increase the staff at its recently launched Indian capability centre to around 2,000 people by late 2027. The Hyderabad facility, opened on Wednesday, will handle tech development, engineering and operations work for its American businesses.

Schwab also intends to move part of the tech work now carried out by Indian contractors into the facility. A 2026 Nasscom-Zinnov report cited by Business Recorder puts India's count above 2,100 such centres, with roughly 2.36 million employees and close to $100 billion in revenue.

Financial groups such as JPMorgan Chase, Wells Fargo, Barclays and American Express together represent roughly a quarter of India's GCC headcount. Speaking to Reuters on Wednesday, Telangana's IT minister Sridhar Babu said the state has over 475 such centres and anticipates 100 additional ones within a year.