TG gets Rs 6K cr investments in one year: Sridhar Babu

Hyderabad: Telangana State witnessed a remarkable progress in IT, industries, and innovation over the past year. “This is a testament to our vision, policies, and the collaborative spirit of our people and government”, said D Sridhar Babu, Telangana IT & Industries Minister, while listing out the global technology companies and manufacturing firms that have set up operations or expanding activities in Telangana State during past one year of Revanth Reddy-led Congress government.

The Minister said that so far in 2024, Telangana State facilitated investments of Rs 6,000 cr, creating 5,200 direct jobs.

According to Sridhar Babu, FedEx, ZF Liftec, LSE Group’s Tech CoE, Cognizant are in the process of generating over 18,000 jobs for youth in Telangana. Other major expansions include: London Stock Exchange Group established Tech CoE in January 2024, and is scaling rapidly from 300 to 1,000 employees.

Cognizant had announced 15,000 new jobs and a new office after meeting with the CM in the US. Arcesium has expanded its AI and data team with 500 new hires, marking its first overseas GCC in Hyderabad. Uber has been growing its AI/ML workforce by 1,000 employees and aligning with our sustainability goals through Uber Shuttle and Green initiatives.

Micron Technology has 82 per cent of its India workforce based here, with Hyderabad being the backbone of its global operations, employing over 4,500 engineers.

Empowered startups

As many as 441 startups raised over $291 mn funding in the State. Another initiative ‘Market Connections’ has facilitated 983 business partnerships. ‘Mentor Hours’ has delivered 1,488 hours of guidance.

Emerging technologies

Global AI Summit 2024 had attracted participation from over 10 countries and 10,000 attendees. Partnered with global giants like NVIDIA, Microsoft, and AWS for AI infrastructure, GCC Conclave was a landmark event with over 200 GCCs engaging with startups. T-Hub has been driving innovation mentoring startups. The State government also hosted Global AI Summit, MATHACK 2.0, with 10,000 over applications and 2,700+ teams.

Global Capability

Centres (GCCs)

FedEx established its Advanced Capability Community in Hyderabad with a $1,000 mn investment, creating 1,000 jobs in the first year.

German automotive safety innovator ZF Lifetec launched one of its three global R&D centres in Hyderabad, employing 450 engineers in the first year.