Progress Card: Telangana's IT Sector Sees Major Growth, FDI Doubles

Releasing the progress report of the Congress government, the IT and industries minister Duddilla Sridhar Babu listed out the major milestones in the IT and industries sector in the last one year and claimed that it was made possible with the far-sighted vision, industry-friendly policies and the collaborative spirit of people and the government.

Stating that a number of Global Capability Centres (GCC) have been looking towards Hyderabad, Sridhar Babu said that global logistics major FedEx had established its Advanced Capability Community in Hyderabad with a $100-million investment, creating 1,000 jobs in the first year.

ZF Lifetec, a German automotive safety innovator, launched one of its three global R&D centres in Hyderabad, employing 450 engineers in the first year. Another GCC Marriott, the world-renowned hotel chain chose Hyderabad for its first GCC, starting with 300 employees.

The London Stock Exchange Group had set up their Tech Centre of Excellence (CoE), in January 2024, is scaling rapidly from 300 to 1,000 employees as part of their expansion works. Cognizant has announced 15,000 new jobs and a new office after the Chief Minister's meeting with their CEO in the United States.

Arcesium has also launched expansion in its AI and data team with 500 new hires, marking its first overseas GCC in Hyderabad. Uber is also increasing its AI/ML workforce by 1,000 employees. Micron Technology has made Hyderabad as its backbone of its global operations with 82% workforce working from Hyderabad. It has employed over 4,500.

The state government had hosted the Global AI Summit, named MATHACK 2.0, a Gen AI hackathon with 10,000+ applications and 2,700+ teams. It helped 441 startups to raise 291 million dollars of funding.

The electronics industry also made steady progress as it facilitated about Rs 6,000 crore investment since January 2024 and created 5,200 direct jobs. A number of major players like Kaynes set up an advanced electronic unit, Amara Raja has been setting up a lithium-ion GigaFactory, Foxconn is setting up a facility at Kongarakalan.

The state government has launched Telangana AI City, a 200-acre hub for AI innovation. ADeX, India’s first agricultural data exchange platform, enabling quicker, smarter solutions for farmers, including rapid access to loans from HDFC Bank is starting its operations in the city. The Cybersecurity CoE had supported 50+ startups, generating Rs 100 crore in revenue and over 1,000 jobs. The National Centre for Additive Manufacturing has helped many startups and strengthened India’s AM ecosystem.