Hyderabad, May 5 (RAHNUMA): In a landmark endorsement of Hyderabad’s ascent as a global enterprise capital, the BASF, one of the world’s largest chemical companies, on Tuesday signed a Letter of Intent (LOI) with the Telangana government to establish a Global Service Hub and a Global Digital Hub in Hyderabad. The hubs are slated to begin operations in the second quarter of 2026.
The LOI was exchanged between Sarvesh Singh, CEO, Telangana Lifesciences, and Tobias Dratt, President, Global Business Services at BASF, in the presence of Minister for IT and Industries Duddilla Sridhar Babu.
Speaking at the occasion, Sridhar Babu underscored Hyderabad’s emergence as one of India’s most dynamic and fast-growing destinations for Global Capability Centres (GCCs) and signalled that the government’s ambitions reach far beyond what has already been achieved.
“Today, Hyderabad stands among the fastest-growing GCC hubs in the country, surpassing most major cities and adding over 75 GCCs in the past year alone,” said Sridhar Babu.
“We are now setting our sights even higher, with a target of over 100 new GCCs and more than 1 lakh jobs this year,” he said.
The Minister outlined a bold vision for Hyderabad’s next phase of growth- one that moves decisively from incubation to innovation.
“As we evolve from an incubation destination into a leading innovation and engineering capital, this growth is being anchored by forward-looking initiatives that will define the next decade,” he added.
BASF’s arrival and its commitment to building a 3,000-strong workforce in Hyderabad is a direct validation of this vision, Sridhar Babu said.
Founded over 160 years ago, BASF operates across more than 200 countries, runs 234 manufacturing facilities worldwide, and employs over 1,08,000 people globally with annual revenues of approximately $60 billion (₹5 lakh crore). Its decision to anchor critical global operations in Hyderabad following a rigorous competitive evaluation across multiple geographies is a powerful signal of the city’s maturity as an enterprise destination.
The twin hubs (GCCs), to be operated under BASF Global Business Services Private Limited, will support BASF’s worldwide operations across finance, human resources, supply chain, regulatory services, and in-house consulting.
Once fully operational, the two hubs are expected to collectively employ 3,000 skilled professionals in a phased manner.
