Hyderabad (Telangana) [India], November 4 (ANI): Telangana IT and Industries Minister D Sridhar Babu on Monday announced that the State has set an ambitious goal of establishing 120 Global Capability Centres (GCCs) within the next year, creating nearly 1.2 lakh jobs.
Speaking at the inauguration of the Vanguard New India Global Value Centre (GVC) at Knowledge Park, Hitec City, the Minister said that Hyderabad has emerged as a hub of trust, integrity and innovation, attracting leading multinational firms. Deputy Chief Minister Mallu Bhatti Vikramarka was also present on the occasion.
“Vanguard — one of the world’s largest investment management companies, with over $6.4 trillion in assets under management — choosing Hyderabad for its Global Value Centre reflects the city’s talent, stability and global competitiveness,” he said, according to an official statement.
The Minister noted that the Telangana government is not merely attracting investments, but is also preparing local youth for future-ready employment.
“To ensure our youth benefit from these jobs, we will provide skilling, reskilling and upskilling in artificial intelligence, machine learning, data analytics, cloud engineering and cybersecurity,” he added.
Seven of the world’s top asset management companies currently operate from Hyderabad, collectively managing over $30 trillion in assets, the statement mentioned.
The newly inaugurated Vanguard centre will focus on engineering excellence, cloud modernisation, AI-led solutions, data security and global digital platforms.
Inviting more global firms to invest in the State, he said, “We encourage international industry leaders to be partners in the story of Rising Telangana.”
On developmental projects, Chief Minister Revanth Reddy said earlier on Monday that the government is committed to completing the long-pending world’s biggest 40 km long SLBC Tunnel project works.
Chief Minister Reddy has announced that the government will provide compensation and address the grievances of the dwellers of the submerged Marlapadu, Keshya Tanda and Nakkalagandi habitations located close to the SLBC project.
The project cost is estimated at Rs 4600 crore, and the government is ready to provide irrigation facilities to 3 lakh acres by lifting 30 TMC of water from the Krishna River.
CM Reddy came down heavily on the previous BRS government for “not completing the prestigious SLBC tunnel works during its 10-year rule for political reasons.” The SLBC project was sanctioned in 1983. (ANI)
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