India, Oct. 9 -- Telangana aims to transform Hyderabad from a hub for global capability centres (GCCs) into a Global Confidence Centre that develops solutions to global challenges, IT and Industries Minister Duddilla Sridhar Babu said on Friday.

Speaking at the inauguration of Netherlands-based Backbase's development centre, the minister said the state government was building a comprehensive ecosystem to attract leading global companies in line with international market requirements, emerging challenges and future technological advancements.

Sridhar Babu said Hyderabad had rapidly emerged as a prominent destination for global companies in technology, digital banking and financial technology (fintech). The expansion of companies such as ...