UBS to Double its GCC Operations in Hyderabad, Adding 1,800 Jobs

Hyderabad: UBS, Switzerland’s largest banking giant, announced plans to expand its Global Capability Center (GCC) in Hyderabad, with an additional 1,800 employees to be hired over the next two years. The announcement was made by Mr. Harald Egger, Head of Group Real Estate and Supply Chain and Chairman of UBS India, during a meeting with Shri Duddilla Sridhar Babu, IT and Industries Minister of Telangana, at the TEPA Investment Event organized by Confederation Suisse and Switzerland Innovation at the Zurich Innovation Park on January 24, 2025.

The expansion will primarily strengthen UBS’s finance and operations functions in Hyderabad, capitalizing on the city’s high-quality talent pool. This move aligns with Telangana’s long-term vision of fostering economic growth and positioning itself as a global leader in IT and business services. Hyderabad currently hosts 11% of all GCCs in India, underscoring the city’s status as a hub for the sector.

The Honourable IT and Industries Minister, Shri Sridhar Babu, expressed pride in Hyderabad’s rise as the leading GCC hub in India. He emphasized that Telangana’s IT exports had surpassed $30 billion, and the growth of GCCs in the city continues to create new employment opportunities and drive the digital economy.

Mr. Harald Egger commented, “UBS’s decision to double its presence in Hyderabad is driven by the region’s exceptional talent, world-class infrastructure, and a thriving innovation ecosystem. We are excited to deepen our presence in Telangana, where we can continue to leverage these strengths for growth.”

Additionally, during the event, Shri Sridhar Babu announced the creation of a dedicated TEPA desk within the Invest Telangana cell. This initiative will serve as a single window for Swiss and other EFTA (European Free Trade Association) countries’ companies looking to invest in India.

The Trade and Economic Partnership Agreement (TEPA), signed in March 2024, will see EFTA countries invest nearly 100 billion Euros in India over the next 15 years, generating 1 million jobs. The event in Zurich highlighted Telangana as a prime destination for investment, particularly in areas like aerospace, defence, electric vehicles, energy storage, and advanced manufacturing.

Minister Sridhar Babu also noted the strong ties between Telangana and EFTA nations, with Swiss companies like Novartis, Roche, UBS, and Swiss Re having a significant presence in Hyderabad. He stressed that Telangana is committed to fostering global business and innovation, which will drive transformative growth and create ample opportunities for new technology sectors.

With TEPA becoming operational this year, Telangana is set to position itself as a preferred investment destination for companies from Switzerland and other EFTA countries. The Telangana government will work closely with embassies and trade missions to further strengthen economic ties.