Hyderabad: Telangana aims to attract 100 new Global Capability Centres (GCCs) within a year as it seeks to position Hyderabad as a global hub for value creation. IT and Industries Minister Duddilla Sridhar Babu said the government was encouraging multinational companies to establish core operations, research and product development activities in the city. The strategy seeks to move beyond conventional service centres towards technology development and innovation.
The Minister made the remarks after inaugurating the India office of New York-based Pico Technology at Hitec City on Friday. Roads and Buildings Minister Komatireddy Venkat Reddy also attended the programme. Sridhar Babu said discussions with Pico Technology representatives earlier this year on investments and expansion in Hyderabad had resulted in the company’s India office. He assured the company of full government support for further expansion in Telangana.
GCCs to drive technology and innovation
Sridhar Babu said the government wanted GCCs to become strategic centres for global technology development, research and innovation. It is encouraging companies to locate higher-value functions in Hyderabad, including product development, engineering, data analytics, cybersecurity and artificial intelligence. These activities would enable GCCs to contribute more directly to parent companies’ global operations, technology development and decision-making.
Pico Technology provides technology infrastructure, software, data and analytics services to financial institutions worldwide. Headquartered in New York, the company operates in more than 30 countries and serves over 350 organisations.
Komatireddy Venkat Reddy said Pico Technology’s expansion in Hyderabad would generate international employment and skill development opportunities for local youth. He added that the government would extend necessary support to companies investing in Telangana. It would also strengthen infrastructure to support industrial and economic growth.
Pico Technology Founder and CEO Jarrod Yuster, CIO Sitaram Gorre and Chief People Officer Matt Norman attended the programme, among other company representatives.
