Hyderabad City poised to overtake Bengaluru

Hyderabad: With the visionary decisions of Chief Minister K Chandrashekar Rao, Hyderabad has been developing as the fastest growing city in the field of Information Technology with a home to around 1,500 IT and ITES companies.

The value of IT exports at the time of formation of Telangana was Rs 2,41,275 crore and 9,05,715 jobs were created. After the formation of Telangana 5.60 lakh people got jobs and there was 31.44 per cent increase in exports compared to the previous year. With the measures taken by the government, Amazon Data Service Centre is setting up three data centres at Fab City, Pharma City and Chandan Velli with a cost of Rs 20,761 crore. National Payment Corporation of India is setting up a smart data centre with 500 crore. The sales force has been expanded with Rs 1,119 crore. As many as 2,500 people got jobs by setting up Goldman Sachs Technology Centre of Excellence. American insurance giant Massachusetts Mutual Life Insurance has announced the establishment of a 1,000 crore Global Capability Centre. Oppo is setting up a Research and Development Centre.

Hyderabad has become a focal point for leading companies in the corporate sector and is setting up their largest and second largest campuses in Hyderabad. Political stability, efficient leadership and progressive industrial policies of the State government have not only preserved the Brand Hyderabad but also flourished the IT sector on an unprecedented scale.

The growth rate of Telangana is higher than the gross development rate of India’s IT sector every year. The IT sector of Telangana has survived the severe negative impact of the Covid-19 pandemic on the economy. Telangana’s IT sector is poised to overtake Bengaluru, known as the Silicon Valley and IT capital of India.