Sridhar Babu 'Hyderabad Aims to Become Global Confidence Centre'

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.