Mizuho Financial Group, Japan’s third-largest financial services company, has inaugurated its largest Global Business Center (GCC) in Chennai, Tamil Nadu, focusing on its IT and banking operations. This centre, called Mizuho Global Services (MGS), currently employs around 250 staff members and plans to expand to 1,000 employees by 2025.

Dr TRB Rajaa, Minister for Industries, Investment Promotion and Commerce, Government of Tamil Nadu, took to his LinkedIn profile and thanked Mizuho for placing their faith in Tamil Nadu. “A 145-year-old Japanese institution and one of Japan’s three mega-banks expanding its presence in Chennai into what will be its largest GCC globally is a testament to Chennai’s position as one of the most sought-after GCC destinations in India,” he added.

Informing that Chennai hosts 15% of India’s BFSI GCCs, Dr Rajaa said, “The tailor-made GCC policies, launched as part of our R&D policy in 2022, under the guidance of the Honourable Chief Minister of Tamil Nadu Thiru. MK Stalin avargal, continue to pay rich dividends.”

The GCC’s primary areas of operation include high-end IT and IT-enabled services like Robotic Process Automation (RPA), Artificial Intelligence (AI), systems development, cybersecurity, and general banking operations.

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Chennai was chosen for Mizuho’s Global Business Center because it has a strong talent pool in banking and IT, good infrastructure, and is considered a safe city. The ongoing expansion of the Chennai Metro also provides better connectivity, making it a preferred location for global companies in the BFSI sectors. The new centre in Chennai is expected to boost the local economy by creating more jobs and encouraging innovation and collaboration within the BFSI industry in India.

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