The city continues to get more investments inspite of competition from other Indian states
72 per cent executives predicted annual economic growth of 6-8 per cent in next three years
Hyderabad: Despite competition among Indian states to attract new industries, Hyderabad continues to get more investments. On Wednesday, a US-based company has announced setting up its global service centre in the city, while an Indian firm announced its plan to expand its new design centre. Ashland Inc., a New York Stock Exchange-listed speciality chemical solutions provider, inaugurated a global business service centre in Hyderabad with a headcount of 120 employees so as to optimize global processes and be a strategic location to support it’s global operations.
The centre would host functions like legal, infotech, human resources, financial analytics and product planning, among others. Meanwhile, Invecas technologies is set to invest around $15 – 20 million in the next two years, towards its design centers in Bengaluru and Hyderabad. For this, it has tied up with Globalfoundries and together they would offer semiconductor IP and solutions.
It has already invested $4-5 million and plans to scale up to $40-50 million in the next three years. While Invecas will look after the design, Globalfoundries will take care of the manufacturing part.
( Source : dc correspondent )
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