TN emerges as GCC magnet, AstraZeneca leads the charge

Earlier this month, British-Swedish pharmaceutical (pharma) major AstraZeneca announced the expansion of its global capability centre (GCC) in Chennai, marking it as the company's largest such centre worldwide.

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This development underscores Tamil Nadu's emergence as India's latest hotspot for GCCs, with over 50,000 jobs created by more than 40 global companies in the past three years, intensifying competition in the region.

AstraZeneca joins Pfizer and Roche, who have also established their centres in the state. Global giants such as World Bank Group (the largest outside its headquarters), Standard Chartered, Hitachi Energy, Renault Nissan, Caterpillar, Nokia, and Ford have chosen Chennai for their largest centres globally.

Recent investments since 2021 include Adidas, Mizuho, UPS, Harman, Hitachi Energy, Deloitte USI, AT&T, and ZoomInfo.

"Tamil Nadu has become a preferred destination for global pharma leaders like Pfizer, Roche, and AstraZeneca to establish their GCCs and innovation hubs. This achievement is a testament to our government's targeted efforts to attract high-quality jobs," said Tamil Nadu Industries Minister TRB Rajaa.

The surge in GCCs and technological activities is visible in Chennai's record office space absorption and supply figures.