Hyderabad Aims to Become Global Confidence Centre: Sridhar Babu
The Minister said the State was building an ecosystem to attract global companies and help them respond to changing market requirements and technological advances
By : DC Correspondent
Update: 2026-10-09 08:51 GMT
Hyderabad: Telangana aims to position Hyderabad as a “Global Confidence Centre” where global companies develop solutions to global challenges, rather than merely as a destination for Global Capability Centres (GCCs), Minister for IT and Industries Duddilla Sridhar Babu said on Friday.
Inaugurating the development centre of Netherlands based fintech company Backbase in Hitec City, the Minister said the State was building an ecosystem to attract global companies and help them respond to changing market requirements and technological advances.
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.
Mr. Sridhar Babu said Hyderabad had emerged as a major destination for technology, digital banking and fintech companies. Backbase’s expansion reflected the city’s growing role in the global technology ecosystem, he added.
The government was also focusing on equipping Telangana’s youth with skills relevant to emerging opportunities in software engineering, product development, cloud computing, artificial intelligence, data analytics, cybersecurity and digital banking.
He said the State was strengthening its digital infrastructure to meet the needs of global companies. Technology could also help address societal challenges, and the government would support innovators developing solutions with wider applications.
Netherlands Deputy Consul General Ann Cremers, Backbase CTO Greg Fahy, Chief of Staff Reinhard Schiel and India Site Head Surabhi Sharma attended the inauguration.