HYDERABAD: New York-based PICO Technology, a company that provides services to financial markets, is planning to set up a Global Capability Centre (GCC) in Hyderabad through its Indian arm, PICO Technology India.

Company representatives met Telangana IT and Industries Minister Sridhar Babu and Roads and Buildings Minister Komatireddy Venkat Reddy at the Secretariat to discuss the proposal.

During the meeting, Sridhar Babu highlighted the strong advantages Hyderabad offers for global companies. He said many leading financial institutions are choosing the city as their preferred destination for setting up GCCs. He pointed out that Hyderabad has a highly skilled workforce, world-class infrastructure, smooth road connectivity, and affordable office rentals.

He also said the government is working on long-term infrastructure plans to meet the needs of the next 20 years, not just the coming decade. According to him, Hyderabad’s office space occupancy stands at 73%, which is higher than Mumbai’s 52%.

Komatireddy Venkat Reddy shared details about upcoming infrastructure projects. He announced that a double-decker road is being planned between Hayathnagar and LB Nagar. The lower level will be used for local traffic, while the upper levels will help vehicles entering and leaving the city.

He added that Hyderabad will become the second city after Nagpur to have such a double-decker road. The tender process is expected to be completed within two months, and construction will begin soon after.