Hyderabad: The Telangana government aims to attract 100 new global capability centres (GCCs) to Hyderabad within a year as part of its efforts to position the state as a global hub for technology development, research and innovation, IT and Industries Minister D Sridhar Babu said on Friday.
Speaking after inaugurating the India office of New York-based Pico Technology at Hitec City, along with Roads and Buildings Minister Komatireddy Venkat Reddy, Sridhar Babu said the government was encouraging global companies to establish and expand their core operations, research and product development activities in Hyderabad.
He said discussions held with representatives of Pico Technology earlier this year on investment and expansion plans in Hyderabad had materialised. He assured the company of the state government's support for expanding its operations in Telangana.
Sridhar Babu said the government was focusing on transforming GCCs from conventional service centres into global hubs for technology development, research and innovation.
"The global companies were being encouraged to establish higher-value operations in Hyderabad, including product development, engineering, data analytics, cybersecurity and artificial intelligence. The objective was to enable GCCs to play a greater role in the global operations, technology development and decision-making processes of their parent companies," the IT minister said.
Komatireddy Venkat Reddy said the expansion of Pico Technology's operations in Hyderabad would create international employment and skill development opportunities for local youth.
The government was committed to supporting companies investing in Telangana and strengthening infrastructure to promote industrial and economic growth, Reddy added.