Telangana targets 100 new GCCs in Hyderabad within a year
The state government aims to transform global capability centres into hubs for research, innovation and high-value technology functions.
The Telangana government has set a target to attract 100 new Global Capability Centres (GCCs) to Hyderabad within one year, according to reports by Urban Acres, The Pioneer and Telangana Today.
Industries Minister D. Sridhar Babu announced the target on Friday during the inauguration of the India office of New York-based Pico Technology at Hitec City.
Sridhar Babu said the government wants to move beyond the conventional service-centre model to develop GCCs as global hubs for technology development, research and innovation.
The proposed focus for these centres includes product development, engineering, data analytics, cybersecurity and artificial intelligence.
The Minister stated that the government is encouraging companies to locate strategic operations in Hyderabad so they can play a larger role in the decision-making and technology development of their parent organisations.
Roads and Buildings Minister Komatireddy Venkat Reddy, who was also present at the programme, said the expansion of Pico Technology would create international employment and skill development opportunities for local youth.