Telangana aims to attract 100 new GCCs to Hyderabad in a year: Sridhar Babu

Telangana Industries Minister D. Sridhar Babu said the State government has set a target of attracting 100 new Global Capability Centres (GCCs) to Hyderabad within a year. He said the government is encouraging multinational companies to establish high-value functions such as product development, engineering, cybersecurity and artificial intelligence in the city.

Hyderabad: Industries Minister D. Sridhar Babu said the State government had set a target of attracting 100 new Global Capability Centres (GCCs) to Hyderabad within a year.

He said the government aimed to move beyond the conventional service-centre model and develop GCCs into global hubs for technology development, research and innovation.

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The Minister was speaking after inaugurating the India office of New York-based Pico Technology at Hitec City here on Friday. Roads and Buildings Minister Komatireddy Venkat Reddy was also present.

According to a press release, Sridhar Babu said the government was encouraging global companies to locate high-value functions in Hyderabad. These include product development, engineering, data analytics, cybersecurity and artificial intelligence.

This would enable GCCs to play a more strategic role in the global operations of their parent companies, particularly in technology development and decision-making, he said.

Pico Technology Founder and CEO Jarrod Yuster, CIO Sitaram Gorre and Chief People Officer Matt Norman, among others, attended the programme.