Hyderabad Emerging as Global GCC Hub: Sridhar Babu
The Minister stated that the rapid growth of GCCs in Hyderabad is expected to create significant employment opportunities for IT engineers and technology professionals
Hyderabad: IT and Industries Minister Duddilla Sridhar Babu said that Hyderabad is increasingly emerging as the preferred destination for leading global companies to establish their Global Capability Centres (GCCs), owing to its world-class infrastructure and availability of a highly skilled talent pool.
He stated that the rapid growth of GCCs in Hyderabad is expected to create significant employment opportunities for IT engineers and technology professionals.
The Minister expressed happiness that Regeneron, a global biotechnology major headquartered in Tarrytown, New York, USA, has chosen Telangana to establish its first GCC outside the United States, which he said would further enhance the state's global reputation. Regeneron's corporate headquarters and R&D operations are based in Tarrytown, New York.
A delegation led by Mr. Bari Kowal, Senior Vice President of Regeneron, met the Minister at Dr. B.R. Ambedkar Telangana Secretariat on Tuesday. On this occasion, Bari Kowal and Telangana Life Sciences CEO Sarvesh Singh have exchanged the MOUs.
Speaking on the occasion, the Minister said that while Regeneron already operates offices and manufacturing facilities in countries such as Ireland, the United Kingdom, Germany and the Netherlands, the Hyderabad centre will function as a unique global hub.
He stated that the proposed centre will coordinate the company's global operations and support high-end digital services such as clinical trial operations, advanced data science, artificial intelligence engineering and commercial analytics.
Sridhar Babu said Hyderabad currently hosts close to 450 Global Capability Centres and continues to attract more international investments. He noted that Hyderabad has emerged as the country's second-largest GCC destination, surpassing cities such as Mumbai, Delhi and Chennai.
He added that the state's strong ecosystem in biotechnology, life sciences, artificial intelligence, data sciences and digital technologies is increasingly attracting global corporations.
The Minister said the Telangana Government has been giving top priority to research, manufacturing, industrial policy and infrastructure development. He added that initiatives such as the expansion of Genome Valley and the upcoming Green Pharma City would further strengthen the state's life sciences ecosystem.
He further stated that the proposed Regeneron GCC is expected to create a large number of high-value employment opportunities in the coming years.
The Minister said Regeneron is one of the world's leading biotechnology companies with a strong portfolio of innovative medicines serving patients globally.