Charles Schwab to Establish First Technology Development Centre in Hyderabad

Charles Schwab, a prominent financial services firm, has selected Hyderabad for its inaugural Technology Development Centre in India. This decision follows discussions between Telangana's Chief Minister A Revanth Reddy, IT Minister D Sridhar Babu, and Schwab executives. The government committed to aiding Schwab in establishing their presence quickly.

Charles Schwab, a leading financial services firm, has designated Hyderabad as the site for its first Technology Development Centre in India, as confirmed by the Telangana government on Thursday.

This decision was made after successful talks between Chief Minister A Revanth Reddy, state IT Minister D Sridhar Babu, and senior Schwab officials Dennis Howard, Rama Bokka, and others at Charles Schwab's global headquarters in Dallas, USA.

During his US visit to attract investments, CM Revanth Reddy, along with the IT Minister, pledged to guide Schwab through all necessary formalities to establish their operations in Hyderabad, ensuring quick access to essential talent for a rapid start, an official release stated.

Schwab's executives expressed appreciation for the government's proactive support, seeing it as a positive sign for a successful partnership, the statement added.

Currently, Charles Schwab awaits final approvals before formally announcing details about the upcoming centre and delegating a team to India to establish the Schwab Technology Centre in Hyderabad officially.

In a related event, CM Revanth Reddy paid homage at the Gandhi statue in Dallas, accompanied by his ministerial colleagues Sridhar Babu and Komatireddy Venkat Reddy.

(With inputs from agencies.)