HYDERABAD: Telangana aims to position Hyderabad as a “Global Confidence Centre” where multinational companies develop solutions to global challenges, rather than merely operate Global Capability Centres (GCCs), IT and Industries Minister D Sridhar Babu said on Friday.
He was speaking at the inauguration of the development centre of Netherlands-based fintech company Backbase in Hitec City. The 30,000-square-foot facility is expected to create 300 skilled jobs and support the development of digital banking solutions and software products for banks and financial institutions worldwide.
Sridhar said the state was building an ecosystem to attract global companies and help them respond to changing market needs and technological advances. Hyderabad had emerged as a major destination for technology, digital banking and fintech companies, he added.
The government was also focusing on equipping young people with skills in software engineering, product development, cloud computing, artificial intelligence, data analytics, cybersecurity and digital banking to prepare them for emerging job opportunities.
He said the state was strengthening its digital infrastructure to meet the needs of global companies.