Unlike metro cities such as Delhi and Chennai, where demand is tapering off, Hyderabad recorded a remarkable 56 percent year-on-year growth in commercial space absorption last year. The highest in the country. In the retail sector alone, 1.8 million square feet was leased by various firms in the previous year Sridhar Babu Minister for IT and Industries, Govt of Telangana

1. The city currently hosts 355 Global Capability Centers (GCCs) from multinational corporations such as Amgen, GlobalLogic, Eli Lilly, Marriott, and Cigna
2. Govt plans to develop 200 million square feet of Grade-A commercial space by 2030
4. More than 70 new GCCs have been established in Hyderabad within just one year

Minister for IT and Industries Duddilla Sridhar Babu has announced that the State government plans to develop 200 million square feet of Grade-A commercial space in Hyderabad by the year 2030.

He was speaking at the formal inauguration of the "Citizens Global Capability Center," a joint initiative by Citizens Financial Group (USA) and Cognizant Technologies, held in Nanakramguda on Tuesday. The Minister emphasised that Hyderabad is rapidly evolving into a Global Business Hub, resulting in a significant surge in demand for high-quality commercial space.

Highlighting Hyderabad’s growing global relevance, Sridhar Babu noted that the city currently hosts 355 Global Capability Centers (GCCs) from multinational corporations such as Amgen, GlobalLogic, Eli Lilly, Marriott, and Cigna, collectively employing over 300,000 professionals. More than 70 new GCCs have been established in Hyderabad within just one year.

Sridhar Babu underscored the state’s vision to not only make Hyderabad a hub for GCCs but to also transform them into global value-added centers focusing on innovation, R&D, and product development. He expressed confidence that Telangana’s contribution to India’s GDP will reach one trillion dollars by 2030.

The Minister reaffirmed the state government’s commitment to attracting investments and generating employment for the youth. Criticising attempts by some to deliberately spread misinformation and discourage investment, he stated that under the leadership of Chief Minister Revanth Reddy, the government enjoys the trust of the industrial community with many investors showing keen interest in setting up operations in Telangana. 

Citizens Financial Group to set up its first India GCC in Hyderabad

Citizens Financial Group (NYSE: CFG), one of the United States’ premier financial institutions, has selected Hyderabad to set up its first Global Capability Centre (GCC) in India.

In a strategic partnership with tech leader Cognizant (Nasdaq: CTSH), the centre will create 1,000 high-value jobs by March 2026 and become a key driver of Citizens’ digital transformation journey.

The launch event, held in Hyderabad, was graced by Minister for IT and Industries Duddilla Sridhar Babu, special chief secretary Jayesh Ranjan and IT Advisor Sai Krishna, along with senior leaders from Citizens and Cognizant.

“We’re not just building infrastructure, we’re building the future,” Sridhar Babu said. “Hyderabad’s rise is not based on hype, but on hard numbers and bold decisions. With Citizens Bank and Cognizant joining forces here, we’re moving closer to our goal of making Telangana the first Indian state to contribute $1 trillion to the national GDP. We are transforming Hyderabad into a Global Value Centre — where innovation is born, IP is built, and world-class products are developed," he said. Michael Ruttledge, CIO and Head of Enterprise Technology at Citizens, said:  “Hyderabad offers a world-class talent pool and a dynamic ecosystem.

This GCC will be central to our tech modernization, helping us bring modern banking products to market faster and deliver superior experiences for our customers,”. Nageswar Cherukupalli, SVP and BU Head (BFSI), Cognizant, stated that Hyderabad has become the global HQ for BFSI innovation. With over 350 GCCs and one new GCC setting up every week, the momentum is real and Citizens is the latest elite name to join this journey," he said.