Deutsche Borse to open Global Capability Centre in Hyderabad for expansion

Don't want to miss the best from Business Standard?

German company Deutsche Borse would open its Global Capability Centre (GCC) in Hyderabad, the Telangana government said on Tuesday.

A delegation led by German Consul General in Chennai Michael Hasper met Telangana Chief Minister A Revanth Reddy and the German team briefed him about the GCC which is being established as part of the Borse company's expansion, a release from the government said.

The new facility will provide at least 1,000 job opportunities in the IT sector in the GCC in the next two years, it said.

Thanking the German company for choosing Hyderabad to set up the GCC, the chief minister said Hyderabad is the best destination for investments and that the state government would extend full support to global investors.

Reddy urged German companies to invest in IT, Pharma and Automobile sectors in the state. The CM reaffirmed that Telangana is ready to strengthen ties with Germany for more investments, the release added.

The chief minister also appealed to the German team to extend cooperation to promote Hyderabad as an innovation hub. The German Consul General was requested to appoint German teachers in Hyderabad and help in teaching the German language to Telangana students, the release said.

The CM urged the Consul General to provide vocational education and skills development training through the TOMCOM (Telangana Overseas Manpower Company Ltd, a state government undertaking), which facilitates overseas employment for Telangana youth, it added.