Vizag upcoming destination for GCCs, says ANSR study
Visakhapatnam offers a compelling environment for GCCs to thrive and innovate
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Visakhapatnam: After a thriving technologically-advanced ecosystem brings more global companies to Hyderabad, ANSR Research sees a huge potential for Visakhapatnam as an emerging destination for Global Capability Centers (GCCs).
Visakhapatnam, which has been proposed to be developed as a fintech hub by the TDP-led NDA Government in Andhra Pradesh, is slowly emerging as a rendezvous for GCCs, with an installed talent pool of approximately 1.4 lakh and hosting over 30 tech startups.
It is among the top emerging cities ranking this year due to its improved city attractiveness and ease of doing business. Visakhapatnam, the largest city in undivided AP after Hyderabad, is poised to play a crucial role in the State’s future.
As a critical industrial city and ranked top among emerging cities, Visakhapatnam offers a compelling environment for GCCs to thrive and innovate. The city has also been identified by NITI Aayog as an emerging hotspot in India.
The city maintains its attractiveness due to its low cost of living, lower levels of pollution, and good internet services. Additionally, the presence of the MSME Technology Centre (MTC), a premium skill development centre established through the Ministry of Micro, Small, and Medium Enterprises under the auspices of the World Bank, boosts the city’s tech landscape.
According to ANSR Research, the MTC aims to provide world-class education, skill development training, and innovation research across multiple disciplines, creating high-quality human resources in interdisciplinary areas of engineering technologies. Furthermore, the recent opening of Infosys office in Visakhapatnam underscores the city’s growing importance as a hub for technology and innovation.
When contacted, Vikram Ahuja, Co-founder ANSR and CEO Talent500, told Bizz Buzz that Hyderabad’s rise as a leading destination for GCCs is due to several key factors. Some of the largest tech-based GCCs established their presence in the city from the very beginning, recognising the exceptional talent pool fostered by a robust local ecosystem.
