Hyd wants to chart transformation from GCC hub to GVC hub: Sridhar Babu

Hyderabad: Even as Hyderabad has cemented its position as a global capability centres (GCCs) hub, the Telangana govt is working on transforming the city into a global value centres (GVC) hub at the heart of the next wave of global technology and business transformation, IT & industries minister Duddilla Sridhar Babu said here on Tuesday."This shift marks a new era for Telangana, where we move from being vendors to value partners, from service delivery to value creation, and from execution to innovation. Hyderabad will no longer be just a preferred destination for global enterprises—it will be indispensable to the future of technology," he said at Hyderabad Software Enterprises Association (HYSEA)'s 32nd national summit & awards 2025.He said as global enterprises look beyond cost arbitrage toward high-value R&D, deep-tech innovation, and strategic product development, Telangana is positioning itself as a global leader in next-generation technology."GVCs will anchor Telangana in the global value chain, driving intellectual property creation, deep-tech innovation, and high-value product development, strengthening the state's global innovation index and expanding its world-class R&D capabilities," he said, adding that with 13% annual growth, $32 billion in IT exports, and $5 billion in domestic IT output, Hyderabad is already a key hub for semiconductors, pharma, and BFSI, delivering cutting-edge solutions worldwide."With over 1,500 tech firms, 1.5 million IT professionals, and 3 lakh AI engineers, Hyderabad is among the top five global outsourcing destinations and one of the fastest-growing GCC hubs," he added.International Monetary Fund (IMF) executive director Krishnamurthy Subramanian said AI can transform India's development trajectory in three crucial sectors — financial, healthcare, and education — but these AI solutions need to be developed at India scale and price points.Pointing out that India's private credit to GDP ratio stands at around 60%, which is significantly lower than the global average of 150%, he said: "Traditional lending in India has been heavily collateral-based, which excludes many service sector businesses that lack physical assets. AI can enable cash flow-based lending by analysing digital payment data benefiting small businesses."While in healthcare, particularly in traditional medicine systems like Ayurveda, Unani, and Homeopathy, AI can enhance diagnostic capabilities, in education it can help assess students' learning levels and provide tailored instruction in local languages, he added.In a fireside chat with OpenAI's public policy and partnerships lead Pragya Misra, Heartfulness Institute founder Daaji (Kamlesh D Patel) stressed the need for integrating spiritual wisdom with technological advancement."While AI gathers and processes external information, true wisdom lies in harnessing the intelligence within. Spirituality is not separate from progress but is the key to unlocking deeper insights that shape a more balanced and meaningful existence," he said.