Charles Schwab Picks Hyderabad for First Technology Development Center in India

Charles Schwab has chosen Hyderabad for its first technology development center in India following productive discussions with Telangana's Chief Minister and IT Minister. This move highlights Hyderabad's growing appeal as a global investment hub and underscores Telangana's supportive governance.

Charles Schwab, a global leader in financial services headquartered in Texas, has selected Hyderabad as the site for its inaugural Technology Development Center in India. This announcement was made by Telangana's Chief Minister's Office during CM A Revanth Reddy's visit to the US.

This decision follows extensive discussions between Chief Minister Reddy, IT Minister Sridhar Babu, and senior Schwab executives including Dennis Howard and Rama Bokka at Schwab's Dallas headquarters. The officials have committed to fast-tracking the necessary formalities to facilitate Schwab's rapid establishment in Hyderabad.

The Telangana CMO has expressed optimism about the collaboration, highlighting Schwab's confidence and appreciation for the proactive support from the state government. The company is currently awaiting final approvals to officially launch the Schwab Technology Center in Hyderabad.

The Telangana government believes Hyderabad is now a standout destination for global investments. A delegation led by Reddy is meeting with business leaders in the US and South Korea to promote investment in Telangana.

During his visit, CM Reddy also discussed various issues with World Bank President Ajay Banga and held roundtable meetings with top CEOs from diverse sectors. Reddy emphasized Telangana's role in the 'China Plus One' strategy for American businesses.

CM Reddy shared Telangana's vision for growth, highlighting its strengths in software, life sciences, and pharma, as well as ambitious projects like India's first Net Zero Carbon city, Future City. He urged global leaders to invest in Telangana's promising future.

(With inputs from agencies.)