Hyderabad Aims to Become a Global Confidence Centre Beyond GCCs

Hyderabad, October 2026 – Hyderabad is aiming to move beyond its reputation as a leading Global Capability Centre (GCC) hub. Telangana’s IT and Industries Minister, D. Sridhar Babu, has outlined a vision to position the city as a Global Confidence Centre, where multinational companies develop innovative solutions for global challenges.

The announcement came during the inauguration of a new technology development centre by Backbase, a Netherlands-based financial technology company.

Backbase Opens a New Technology Centre

Backbase has opened a 30,000-square-foot technology development centre in Hyderabad to support its expanding engineering operations.

According to the information provided, the company’s Indian engineering team has grown from fewer than 50 engineers in 2020 to more than 600. India is now its largest engineering hub outside its Amsterdam headquarters.

The expansion is expected to create 300 additional skilled job opportunities, strengthening Hyderabad’s position in the global fintech industry.

AI and Digital Banking at the Centre

The new facility will support the development of digital banking software and financial technology products for customers worldwide.

Key roles expected to be supported include:

• Applied AI engineers
• Data engineers
• Full-stack developers
• User experience specialists
• Software development engineers in test
• Forward deployed engineers

These roles reflect the growing demand for professionals with expertise in artificial intelligence, software engineering and digital financial services.

Telangana Focuses on Future-Ready Skills

The Telangana government is working to strengthen the talent pipeline needed by technology companies.

Priority skill areas include:

• Artificial intelligence and data analytics
• Cloud computing and cybersecurity
• Software and product engineering
• Digital banking technology

Developing these skills could help local professionals access specialised technology careers while encouraging more companies to establish advanced engineering operations in Hyderabad.

Why Hyderabad Wants to Become a Global Confidence Centre

The proposed shift represents a broader ambition for the city’s technology economy.

Moving beyond IT support: Hyderabad aims to attract more core product development, research and engineering activities rather than relying primarily on traditional IT services.

Strengthening fintech: Backbase’s expansion highlights the potential for Hyderabad to become an important centre for digital banking innovation.

Creating skilled jobs: Growing demand for AI, data and software engineering professionals could expand career opportunities for local talent.

Encouraging innovation: The government wants global companies to develop technologies that address complex business and societal challenges.

Global Leaders Attend the Inauguration

The inauguration brought together representatives from the Netherlands and Backbase’s leadership team.

Those attending included Ann Cremers, Deputy Consul General of the Netherlands; Backbase CTO Greg Fahy; Chief of Staff Reinhard Schiel; and India Site Head Surabhi Sharma.

The gathering highlighted the international partnerships supporting Hyderabad’s technology ecosystem.

What This Means for Hyderabad’s IT Sector

Hyderabad has developed into an important destination for multinational technology companies, supported by its skilled workforce and established IT infrastructure.

The Global Confidence Centre vision seeks to build on that foundation by attracting more strategic engineering, product development and research activities.

If this approach succeeds, the city could strengthen its role in developing technologies used by businesses and consumers around the world.

Backbase’s expansion marks another development in Hyderabad’s technology journey, with AI, fintech and advanced engineering emerging as important areas for future growth.