HCLTech has signed a new seven-year agreement with US insurer Guardian Life Insurance Company of America to acquire the insurer's India global capability centre (GCC) for $10.5 million in an all-cash transaction expected to close on August 1. As part of the deal, HCLTech will acquire 100% of Guardian India Operations, bringing nearly 2,000 employees into the company. The team will operate as a dedicated strategic business unit supporting Guardian's technology, engineering and operations functions across its insurance, retirement, wealth management and employee benefits businesses. According to HCLTech's regulatory filing, Guardian India generated revenue of ₹578.8 crore in FY26, up from ₹483.2 crore a year earlier. The acquisition reflects a growing trend among IT services firms to deepen strategic client relationships by acquiring captive GCCs while securing long-term AI and digital transformation contracts.
HCLTech officially launched its Global Technology Centre in GIFT City, Gujarat on Friday, July 17, marking a significant expansion of its AI capabilities. According to Business Standard, the centre has started operations with an initial workforce of around 100 employees, the majority of them recruited from Gujarat. The centre, which HCLTech calls its Global Technology Office, is spread across 32,000 square feet covering two floors in a commercial complex in GIFT IFSC and was inaugurated by Gujarat Deputy Chief Minister Harsh Sanghavi. Rahul Singh, Chief Operating Officer – Corporate Functions, HCLTech, stated that "We are happy to say that some of our very important financial services clients will be serviced from here. We will engage in IT development for them." The facility has a capacity of 500 seats across two floors and has already begun delivering technology services to banking and financial services clients, with the company planning to expand hiring over time based on customer demand.
As reported by Business Standard, HCLTech signed memoranda of understanding with the Indian Institute of Technology, Gandhinagar, and Gujarat Technological University (GTU) to advance industry-academia collaboration. The partnerships will focus on research in AI for financial services, related software, and skills development. These collaborations will provide students and faculty with hands-on industry exposure and opportunities to contribute to global technology and digital transformation initiatives. According to HCLTech, the partnerships will also strengthen collaboration between industry and academia and help develop future-ready technology talent in the state. The company has not altered its longer-term workforce plans and intends to expand hiring based on customer demand. As part of the Guardian partnership, HCLTech will deploy its AI Force platform to build agentic AI capabilities, modernise data and applications, and jointly develop AI-powered products and intellectual property for the insurance industry.
According to Business Standard, C Vijayakumar, CEO & Managing Director, HCLTech, stated that Gujarat has been a beacon of progressive policies and development in India. GIFT City offers world-class infrastructure, and we are pleased to establish our presence in the state to engineer the future of financial services clients with innovative AI solutions. He emphasized that at HCLTech, we look forward to contributing to the local technology ecosystem in the state and boosting industry-academia collaboration to create a pool of future-ready talent. Deputy Chief Minister of Gujarat Harsh Sanghavi inaugurated the centre in the presence of HCLTech CEO and MD C Vijayakumar and GIFT City MD and Group CEO Sanjay Kaul (IAS). Sanghavi welcomed the development, stating that the launch of the Global Technology Centre and the AI Lab marks an important step in strengthening GIFT City's innovation ecosystem and advancing its position as a leading global TechFin hub.
The opening marks the first phase of HCLTech's expansion in GIFT City, with the company having planned to establish a techfin hub with the potential to employ 1,500 people. Asked about scaling down these ambitious plans, Rahul Singh stated that the hiring roadmap remained unchanged and would be driven by customer demand. Singh explained that "We have not scaled down our plans. Our model is about ramping up resources. We have already committed to a larger workforce and, as more success happens, we will hire more." He added that customer interest would determine the pace of expansion, noting that "Our customers are equally important in city selection. While we have created this environment in GIFT City, we have to make it attractive so that customers are willing to work with our teams here." The facility is part of a broader techfin ecosystem in GIFT City, with several leading technology companies including Infosys, Cognizant, Wipro and Hexaware collectively expected to create more than 5,600 jobs over the coming years, focusing on developing technology solutions for banking, capital markets, insurance, wealth management and other regulated financial services for both Indian and global clients.
