Telangana State government develop Hyderabad into a financial hub

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The Telangana state government is aiming to develop Hyderabad into global financial hub along with the lines of New York, London, Tokyo and Mumbai.

Minister K.T.R at an investment promotion road show in Mumbai on Friday said,“The goal is to develop the city into a global financial hub along the lines of New York, London, Tokyo and Mumbai. Hyderabad boasts of the presence of global finance corporations such as Wells Fargo, HSBC, UBS (Cognizant), Bank of America, RBS, HDFC, Nova Scotia Bank etc. After the successful initiative of building the financial district (Phase 1), which has attracted companies such as ICICI, Franklin Templeton etc., the state is now developing financial district Phase 2 – a much bigger initiative,”.

On  IT development in Hyderabad over the last decade K.T.R said,“Hyderabad has rightly emerged as a contender to become the ICT capital of India and with the presence of a large pool of talented IT professionals and as the base for leading MNCs, the city of Hyderabad has the reputation of being the destination of choice for businesses across industries.”

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“Government of Telangana aspires to reach a target of Rs 1 lakh crore of National Exports from the current level of Rs 60,000 crore and create 1 million job opportunities in the ICT and Electronics Sector in the next three years. The ICT sector currently employees over 3.25 lakh IT Professionals making Hyderabad the second largest IT Exporter in India. The Electronic sector has surpassed exports of $1 billon. Hyderabad has one of the largest concentrations of IT, ITES & Electronics Companies in the country” he added.

He also said that Hyderabad has one of the largest concentrations of 500 companies.And its is home for several major IT companies like Microsoft,TCS,Amazon,Dell,Oracle,Wipro,Infosys,Deloitte,Facebook,United Health Group,JP Morgan.

Minister also met with the Bollywood film actor Vivek Oberoi and discussed with him about the development of entertainment sector in Telangana.

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