Telangana IT Minister Sridhar Babu pitches Hyderabad as a Global Confidence Centre

Telangana aims to transform Hyderabad from a hub for global capability centres (GCCs) into a Global Confidence Centre that develops solutions to global challenges, IT and Industries Minister Duddilla Sridhar Babu said on Friday.

Speaking at the inauguration of Netherlands-based Backbase’s development centre, the minister said the state government was building a comprehensive ecosystem to attract leading global companies in line with international market requirements, emerging challenges and future technological advancements.

Sridhar Babu said Hyderabad had rapidly emerged as a prominent destination for global companies in technology, digital banking and financial technology (fintech). The expansion of companies such as Backbase reflected the city’s growing importance in these sectors, he added.

He said the government was focusing not only on attracting investments and bringing major companies to Telangana but also on equipping young people with the skills needed to access employment opportunities in emerging technology fields.

These include digital banking solutions, software engineering, product development, cloud computing, artificial intelligence, data analytics and cybersecurity, he said.

The government was also preparing a dedicated action plan to provide advanced digital infrastructure that meets the requirements of global companies, the minister added.

Emphasising technology’s potential to address societal challenges, Sridhar Babu assured companies and innovators that the government would extend all possible support to those developing innovative ideas and solutions.

He said Backbase’s development centre would play a key role in delivering next-generation digital solutions.