Hyderabad: Hyderabad will soon join the global network of World Trade Centres with the establishment of its own WTC, a global hub for international businesses. It will be the third city in the country to have a WTC after Mumbai and Bengaluru. WTCs are currently located in 100 countries.
The Telangana state government plans to set up the WTC in a public-private-partnership mode on the city’s outskirts. It will seek a licence from the World Trade Centres Association (WTCA) for the purpose.
The WTCA, headquartered in New York City, was established in 1970 as a non-profit organisation to promote growth of international trade.
WTC: Telangana to tie-up with private firm
Industries minister Jupally Krishna Rao said the WTC was part of the TRS government’s plan to transform Hyderabad into a global city.
The government is planning to tie-up with Bengaluru-based real estate major Brigade Group, which has already secured a licence from WTCA for setting up a WTC in Hyderabad, along with Kochi, Thiruvanantha-puram and Chennai.
The government will allot the land to build the WTC towers. “We are planning to propose the WTC project in the Budget to be presented in March. Around Rs 300 crore would be required for this. The government will work out modalities for executing the project in PPP mode,” Mr Rao added. Each tower of WTC-Hyderabad will have about 30 to 35 floors and state-of-the-art infrastructure. to promote international business. It will also have networking with the WTCs spread over 100 countries across the world.
