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Hyderabad is emerging as a global command centre for financial technology, IT and Industries Minister D. Sridhar Babu said while inaugurating German firm Deutsche Borse Group’s global capability centre in the city on Tuesday. The decision of the Group, one of the world’s leading financial market institutions, to establish GCC in Hyderabad reflects Telangana’s policy stability and investor-friendly governance as well as city’s skilled workforce, he said. The Frankfurt-headquartered Deutsche Borse Group is an international exchange organisation and innovative market infrastructure provider. The GCC will provide services to global financial markets, including major exchanges such as the Shanghai Stock Exchange, BSE, EEX and the European Power Exchange, with more than euro 20.7 trillion assets under custody. 1,000 jobs in first phase In the first phase, the GCC or Global Value Centre, as the company describes it, will create 1,000 high-skilled jobs in Artificial Intelligence, Cybersecurity, Cloud Engineering and Deep Technology. The headcount is expected to double in coming years, the Minister’s office said. Hyderabad is home to seven of the world’s top ten asset management companies and come to be a significant node in the global financial system. “With Deutsche Borse joining this ecosystem, Hyderabad has further consolidated its identity as a centre for capital, wealth creation and high-value financial services,” Mr. Sridhar Babu said. Innovation powerhouse The Minister said the State government is working to shape Hyderabad from a technology incubator into a global innovation powerhouse. “We are not merely attracting investments... creating value that supports global economy,” he said, describing Deutsche Borse Group as a pillar of global financial system. “We are happy and proud to leverage on Hyderabad IT talents to bring our worldclass trading, clearing and post trading systems to the next level, including cloud native infrastructure enabling data and AI to create the future of financial market infrastructure,” Deutsche Borse India Director Ludwig Heinzelmann said. “Hyderabad is the ideal place to grow our community of capital market engineers. Deutsche Boerse India will play a pivotal role in advancing our digital asset, data and platform capabilities, said Deepak Tripathi, Director of the company. Meeting with CM Earlier, a leadership team of the German firm accompanied by German Consul General Michael Harper called on Chief Minister A. Revanth Reddy and informed him about the decision to launch the GCC that will provide at least 1,000 jobs over next two years. Mr. Reddy thanked them for choosing Hyderabad for the GCC. The city is the best destination for investments and the government is ready to provide full support to global investors. Urging German firms to invest in IT, pharma and automobile sectors, he said Telangana was keen on strengthening ties with Germany for more investments. The Chief Minister sought cooperation of the team in promoting Hyderabad as an investment hub. He called for measures to help Telangana students learn German. Mr. Reddy wanted the Consul General to assist in providing vocational education and skill development training through Telangana Overseas Manpower Company.
