Zurich, January 24, 2025. In a significant development sealing the status of Hyderabad as an emerging global hub for business services, Switzerland’s largest bank UBS today declared plans to expand its GCC operation in the city by nearly twice its existing level. Adding nearly 1,800 jobs to the rolls of the financial and IT landscape over the next two years, the plan will reflect on the city’s growing status on the map.
It was announced by Mr. Harald Egger, Head of Group Real Estate and Supply Chain and Chairman of UBS India, at a meeting attended between Telangana’s IT and Industries Minister, Shri Duddilla Sridhar Babu. The meeting was during the TEPA Investment Event organized by Confederation Suisse and Switzerland Innovation at Zurich Innovation Park.
Hyderabad Business Ecosystem Empowered
The expanded operations of UBS in Hyderabad will focus mainly on enhancing its finance and operations functions. This is a great move, as the city has an excellent quality of talent pool and a thriving innovation ecosystem driven by proactive government policies. Hyderabad already houses 11% of India’s GCCs, making it a city with unparalleled growth in the sector.
Hon’ble IT and Industries Minister Shri Duddilla Sridhar Babu said, “As we build Hyderabad as the nation’s foremost GCC hub, we are rewriting the definition of being an investment-friendly, technology-driven, and future-ready state. Telangana’s IT exports have touched $30 billion, and we see the GCC growth in Hyderabad that brings new job opportunities and powers our digital economy.”.
The reason that made UBS double its presence in Hyderabad is basically the fact that Hyderabad offers the best talent pool, world-class infrastructure, and innovation ecosystem actively fostered by supportive government policies,” says Mr. Harald Egger. “We are happy to deepen our presence in Telangana, where we can leverage those strengths in furthering growth and contributing to the evolving economic landscape of the region.”.
Telangana further strengthens ties with EFTA Through TEPA
The UBS announcement came during the TEPA Investment Event which was also eyeing bringing both sides closer in business parlance. The landmark TEPA inked in March 2024 has set the ambition target to make the investment by the EFTA countries a sum of €100 billion to India in the next 15 years and will result in the employment of 1 million people.
In his address during the event, Shri Duddilla Sridhar Babu said that Telangana is now ready to be positioned as a destination of choice for investments under TEPA. “Telangana, a global leader in IT and Life Sciences, already enjoys strong economic linkages with EFTA countries. Companies like Novartis, Roche, UBS, and Swiss Re have a robust presence in Hyderabad.”. We continue to be focused on placing Telangana at the heart of global business and innovation, driving transformative growth and creating boundless opportunities for partnerships in emerging sectors like aerospace, defense, energy storage, and advanced manufacturing,” he said.
The IT and Industries Minister also announced that a dedicated TEPA desk is being set up in the Invest Telangana cell. The desk will be a one-stop shop for Swiss and other EFTA countries to provide end-to-end support to companies from market intelligence to regulatory guidance to facilitation of partnerships.
Hyderabad: Light of Innovation and Progress
Hyderabad has led the world with standards in IT and business services. With expansion by UBS and proactive governmental measures to encourage investments through TEPA, this city is expected to experience growth which is unparalleled anywhere else. Its skilled workforce, cutting-edge infrastructure, and policies that are innovated, places Hyderabad as one of the foremost choices for those who want to expand or locate their operations in this city.
With TEPA ratified and in place, Telangana will be more attractive to considerable investment from EFTA countries and continue to position itself as a state with the best potential to drive transformative economic growth.
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