Bangalore behind Hyderabad in GCC delivery configurations.

In Hyderabad, more than 40 international businesses opened new Acceleration Centers, Centers of Excellence (CoEs), Centers of Innovation, and R&D Centers.

Hyderabad: In the first half of 2023, the State capital surpassed Bengaluru in terms of the number of Global Capability Center (GCC) establishments, reaffirming its position as the top location for businesses to open new locations or expand current ones.

During this time, more than 40 international businesses opened or increased their Acceleration Centers, Centers of Excellence (CoEs), Centers of Innovation, and R&D Centers in Hyderabad, according to Dallas-based research and analysis company Everest Group.

The increase in technology-related jobs in the city also reflects this trend. In terms of the total number of technology employment in India, Hyderabad’s share increased from 33% to 44% between 2021 and 2022. According to a blog post by Everest Group, the demand for non-tech services is increasing at the same time, indicating positive investor confidence.

It stated that the city has demonstrated impressive growth and resilience over the past two years, recording one of the highest growth rates for global service delivery in the nation. It further stated that regular interactions between top corporate executives and IT and Industries Minister KT Rama Rao demonstrate the commitment to fostering a favorable business environment.

The Minister’s visit to the US in May produced a number of announcements about new center setups and expansions, including those from Charles Schwab Corporation, Mondee Holdings, Storable, Rite Software, Tekgence, and Zapcom.

Bengaluru and Hyderabad are not the same:

It was stated that there were several variables that separated Bengaluru, also referred to as India’s Silicon Valley, from Hyderabad. Hyderabad’s rise as a leading global services destination may be attributed to its strong government support, modern infrastructure for offering advanced technical services, and top-notch talent.

As a city that appears to be feeling the effects of the economic crisis, Bengaluru’s environment is rather muted in comparison to Hyderabad’s vibrant atmosphere. According to the site, the projected growth paths of the two cities reveal a dramatic contrast.

Hyderabad has long been a favorite among pharmaceutical companies, but its attraction has since spread to other industries. The city has also drawn a number of Fortune 500 behemoths from the manufacturing, professional services, retail, aerospace, and pharmaceutical industries over the years.

Hyderabad is diverse in more ways than just its industry. In actuality, a variety of services are provided to customers from various GCCs located in the city to all over the world.

FedEx is setting up an innovation center for supply chain optimization, Lloyds Banking Group is using the space to provide cyber security services, and Goldman Sachs is growing its delivery footprint for business innovation and engineering services by hiring over 2000 full-time equivalent employees (FTEs). In addition, it stated that a number of other companies, including Apollo Tyres, DAZN, Ocugen, Pi Square, and Warner Bros. Discovery, are using the site for a range of services.

Hyderabad is also putting a lot of emphasis on the delivery of new technology. Businesses in the city are also providing a wide range of cutting-edge services, including animation, cloud computing, artificial intelligence (AI), machine learning (ML), natural language processing (NLP), robotic process automation (RPA), visual effects (VFX), augmented reality (AR), and virtual reality (VR).

Hyderabad’s trajectory is increasing with every passing quarter. And this is possible due to availability of high quality talent and world-class infrastructure, the blog says, adding that this apart, the city earned a reputation as an educational hub that houses globally-recognized institutions such as ISB, IIIT and BITS Pilani.

More importantly, Hyderabad offers a more reasonably priced lifestyle without sacrificing quality, in contrast to Bengaluru’s exorbitant cost of living and notorious traffic congestion.

Hyderabad’s skill and infrastructure have had a greater impact thanks to the government’s unwavering support. The state government has put in place a number of programs to promote growth and make the economic climate in the city more favorable.