The state government wants to have 200 million square feet of Grade-A commercial space available in Hyderabad by 2030, according to IT and Industries Minister D Sridhar Babu on Tuesday. He was addressing at the opening of the Citizens Global Capability Centre (GCC) in Nanakramguda, which is a joint venture between Cognizant Technologies and the US-based Citizens Financial Group.
The minister emphasized Hyderabad’s expansion as a major international commercial center and stated that the city was seeing a dramatic increase in demand for first-rate office space.
Over 1,000 IT and data specialists are anticipated to be employed by the new Citizens GCC in the first phase, and that number is projected to rise over the next two to three years.
The minister said that 355 GCCs from multinational companies, including Amgen, GlobalLogic, Eli Lilly, Marriott, and Cigna, now call Hyderabad home, with a combined workforce of over 3 lakh professionals. “More than 70 GCCs were set up in the city in the past year alone,” he added.
Sridhar reaffirmed the government’s commitment to making Hyderabad a center for worldwide R&D and innovation, not only for the GCC. “Our vision is to make these centres value-added hubs for product development. Telangana’s contribution to India’s GDP is poised to hit the $1 trillion mark by 2030,” he said.
Attempts to disseminate false information and deter investment in the state were criticized by Sridhar Babu. “Under Chief Minister A Revanth Reddy’s leadership, we have regained the trust of the industrial community, and investors are showing keen interest in Telangana,” he said.
He expressed gratitude to the Cognizant and Citizens Financial Group teams for selecting Hyderabad as the location of their new facility.
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