Hyderabad Emerging as Preferred Destination for GCCs: Sridhar Babu
The city’s highly skilled talent pool, world-class infrastructure, smooth road connectivity with minimal traffic congestion, and affordable rentals are attracting major companies: Sridhar Babu
Hyderabad: Telangana Minister for IT and Industries Duddilla Sridhar Babu stated that leading global financial institutions are 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 are attracting major companies.
Representatives of PICO Technology, a New York-based company, met Minister Sridhar Babu at the Dr. B.R. Ambedkar Telangana Secretariat on Saturday. Minister for Roads & Buildings Komatireddy Venkat Reddy also participated in the meeting.
PICO Technology, which provides services to financial markets, has expressed interest in establishing a GCC in Hyderabad through its subsidiary PICO Technology India. On the occasion, Sridhar Babu briefed the company representatives on the opportunities and infrastructure available in Hyderabad.
He stated that the government is implementing long-term infrastructure plans designed to meet not only the requirements of the next five to 10 years, but also the needs of the next 20 years.
He pointed out that Hyderabad’s office space occupancy stands at 73 percent, significantly higher compared to 52 percent in Mumbai.
The Minister noted that due to severe traffic congestion and air pollution in metro cities such as Bengaluru and Mumbai, several IT companies and GCCs are increasingly relocating to Hyderabad.
Minister for Roads and Buildings Komatireddy Venkat Reddy said the government is making substantial investments to strengthen transport infrastructure across the state. He stated that a Regional Ring Road is being developed approximately 30 kilometres beyond the existing Nehru Outer Ring Road, along with a network of radial roads connecting it.
He further said that rail connectivity is also being planned alongside the ring roads to create a transportation network that can rival those of the world’s leading cities. The Minister announced that a double-decker road is 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 remarked that Hyderabad will become the second city after Nagpur to develop such double-decker roads and informed that the tendering process will be completed within the next two months, with works to commence immediately thereafter.
