Putting up a competitive front for Bengaluru, the south Indian city of Hyderabad is upping its ante as a hub for emerging tech companies. After housing research and development labs for companies such as Adobe, State Street, PayPal in the last few months, the city is now set to have two more large-scale global in-house centres for major MNCs.
Jayesh Ranjan, the IT Principal Secretary told a leading news daily, “You will see two big names launching their GICs here in October and November. This will further strengthen the Brand Hyderabad. Availability of talent and the presence of an enabling ecosystem are the key reasons why Hyderabad is being preferred.”
Reportedly, these two big names will launch their GICs in the city shortly. In fact, one of them is a Fortune 500 company that operates in the legal domain. The other one is related to stock exchanges.
Beverage giant PepsiCo is also setting up one of its largest business services hubs in Hyderabad. Reportedly, the company has taken up 3.8-lakh square feet of space in IT SEZ Laxmi Infobahn, and plans to hire 2,500 people over the next three years.
In 2019, Hyderabad saw the highest annual increase in median salaries for analytics professionals at almost 5% — from 10.2 lakh in 2018 to 10.7 lakh.