Government targets 100 new GCCs in a year; focus on making them global centres for technology development and innovation
Hyderabad, November 06, 2026: Hyderabad is positioning itself as a global hub for value creation, with the State government seeking to attract global companies to establish and expand their core operations, research and product development activities in the city, IT and Industries Minister Duddilla Sridhar Babu has said.
The Minister was speaking after inaugurating the India office of New York-based Pico Technology at Hitec City on Friday, along with Roads and Buildings Minister Komatireddy Venkat Reddy.
Mr. Sridhar Babu said discussions held with representatives of Pico Technology earlier this year on investment and expansion in Hyderabad had materialised. He assured the company of the State government’s full support in expanding its operations in Telangana.
The government has set a target of attracting 100 new Global Capability Centres (GCCs) to Hyderabad within a year, he said. The objective, he added, was to move beyond the conventional service-centre model and develop GCCs into global centres for technology development, research and innovation.
He said the government was encouraging global companies to locate higher-value functions in Hyderabad, including product development, engineering, data analytics, cybersecurity and artificial intelligence. This would enable GCCs to play a more strategic role in the global operations, technology development and decision-making processes of their parent companies.
Pico Technology, headquartered in New York, provides technology infrastructure, software, data and analytics services to financial institutions across the world. The company operates in more than 30 countries and serves over 350 organisations.
Mr. Komatireddy Venkat Reddy said the expansion of Pico Technology’s operations in Hyderabad would create international employment and skill development opportunities for local youth. He said the government was committed to extending necessary support to companies investing in Telangana and strengthening the infrastructure required for industrial and economic growth.
Pico Technology Founder and CEO Jarrod Yuster, CIO Sitaram Gorre and Chief People Officer Matt Norman, among others, attended the programme.
