Hyderabad looks beyond GCC, aspires to be Global Confidence Centre: IT Minister

IT and Industries Minister D. Sridhar Babu with members of leadership team of Backbase at the opening of firm’s technology development centre in Hyderabad on Friday. | Photo Credit: Arrangement

IT and Industries Minister D. Sridhar Babu on Friday said Telangana aims to position Hyderabad as a ‘Global Confidence Centre’ where global firms develop solutions to global challenges rather than merely as a destination for global capability centres (GCCs).

The State government was focused on building an ecosystem to attract global firms and help them respond to changing market requirements and technological advances, he said, speaking at opening of Backbase’s technology development centre here.

The 30,000 sq ft facility of the Netherlands based fintech firm is expected to create 300 skilled jobs and support development of digital banking solutions and software products for banks and financial institutions worldwide, the Minister’s office said in a release.