Hyderabad: Telangana IT and Industries Minister Duddilla Sridhar Babu said Hyderabad would emerge as a global confidence centre where companies develop solutions to address worldwide challenges. He outlined the vision on Friday while inaugurating the development centre of Netherlands-based fintech company Backbase in Hitec City.
The minister said Telangana wanted to move beyond attracting Global Capability Centres (GCCs). Instead, the government aimed to help global companies develop solutions that respond to changing market needs and technological advancements. This approach would strengthen Hyderabad’s role in the international technology ecosystem.
The new Backbase facility covers 30,000 square feet and is expected to generate 300 skilled jobs. It will support the development of digital banking solutions and software products for banks and financial institutions worldwide.
Sridhar Babu said Hyderabad had become a major destination for technology, digital banking and fintech companies. Meanwhile, Backbase’s expansion would further strengthen the city’s position in the global technology ecosystem, he added.
The government also planned to equip Telangana’s youth with skills suited to emerging employment opportunities. These fields include software engineering, product development, cloud computing, artificial intelligence, data analytics, cybersecurity and digital banking.
Global confidence centre vision includes digital infrastructure
Sridhar Babu said the government was strengthening digital infrastructure to meet the needs of global companies. He also highlighted technology’s potential to address societal challenges and said the State would support innovators developing solutions with wider applications.
According to the minister, Hyderabad’s technology ecosystem could support companies responding to evolving business requirements. The proposed global confidence centre approach would focus on developing solutions for challenges beyond individual markets.
The inauguration brought together representatives from the Netherlands and Backbase. Netherlands Deputy Consul General Ann Cremers attended the event alongside Backbase CTO Greg Fahy.
Backbase Chief of Staff Reinhard Schiel and India Site Head Surabhi Sharma also attended the inauguration. The company’s new development centre adds to Hyderabad’s presence in digital banking and fintech, while the State continues to focus on technology-led employment and skills development.