Telangana's IT and Industries Minister, Duddilla Sridhar, stated that the government's ambition is to transform Hyderabad into a global confidence center that finds solutions to world-class problems. As reported by Disha daily, this vision is driving the attraction of new investments to the city.
The Netherlands-based global fintech giant, Backbase, officially inaugurated its development center in Hitech City on Friday. This new facility spans 30,000 square feet, marking a significant addition to Hyderabad's technological landscape.
During the inauguration, Minister Sridhar Babu emphasized that the state is systematically developing a comprehensive ecosystem to attract major companies. This ecosystem is designed to meet global market needs, address challenges, and adapt to future technological changes, according to Disha daily.
The government aims to establish Telangana not just as a destination for Global Capability Centers (GCCs), but also as a hub for global innovation. The establishment of this development center is a crucial step towards achieving this goal.
This investment is expected to bring economic growth and job opportunities to the regions of Telangana and Andhra Pradesh. It will boost the local technology sector and help in upskilling the youth in the region.
