HYDERABAD: PICO Technology, a New York-based company which provides services to financial markets, has expressed interest in establishing a GCC in Hyderabad through its subsidiary PICO Technology India. In this regard, representatives of the company met IT and Industries Minister Sridhar Babu and Roads and Buildings Minister Komatireddy Venkat Reddy at the Secretariat on Saturday.
Briefing the company representatives on the opportunities and infrastructure available in Hyderabad, Sridhar Babu said leading global financial institutions were choosing Hyderabad as their preferred destination for establishing Global Capability Centres (GCCs). He said the city’s highly skilled talent pool, world-class infrastructure, smooth road connectivity with minimal traffic congestion, and affordable rentals were attracting major companies.
He stated that the government was implementing long-term infrastructure plans designed to meet not only the requirements of the next 5-10 years, but also the needs of the next 20 years. He pointed out that Hyderabad’s office space occupancy stood at 73%, significantly higher compared to 52% in Mumbai.
Komatireddy Venkat Reddy announced that a double-decker road was being constructed between Hayathnagar and LB Nagar. The lower deck will cater to local traffic, while the upper two decks will facilitate vehicles entering and exiting the city, he added. He noted that Hyderabad would become the second city after Nagpur to develop such double-decker roads and informed that the tendering process would be completed within the next two months, with works to commence immediately thereafter.