Telangana's Rapid Growth in IT, Industries, and Innovation
Telangana State has made significant strides in the fields of IT, industries, and innovation over the past year. Highlighting this progress, Telangana IT & Industries Minister D Sridhar Babu attributed the success to the state’s visionary policies and the collaborative efforts of its people and government. The Minister outlined the achievements made during the first year of the Revanth Reddy-led Congress government, including the establishment and expansion of global technology companies and manufacturing firms in the state.
Major Investments and Job Creation
In 2024 alone, Telangana attracted investments worth ₹6,000 crore, leading to the creation of 5,200 direct jobs. The Minister also shared that companies like FedEx, ZF Liftec, LSE Group’s Tech CoE, and Cognizant are in the process of generating over 18,000 jobs for Telangana’s youth. Notable expansions include the London Stock Exchange Group, which set up its Tech CoE in January 2024 and is scaling its workforce from 300 to 1,000 employees.
Cognizant announced 15,000 new jobs and a new office after discussions with the Chief Minister during his visit to the US. Similarly, Arcesium expanded its AI and data team with 500 new hires, opening its first overseas Global Capability Center (GCC) in Hyderabad. Uber is also growing its AI/ML workforce by adding 1,000 employees while focusing on sustainability through its Uber Shuttle and Green initiatives.
Micron Technology has established Hyderabad as the backbone of its global operations, with 82% of its India workforce based in the state and over 4,500 engineers employed.
Empowering Startups
Telangana’s startup ecosystem has thrived, with 441 startups raising over $291 million in funding. The state’s ‘Market Connections’ initiative facilitated 983 business partnerships, while the ‘Mentor Hours’ program provided 1,488 hours of guidance to budding entrepreneurs. These efforts underline Telangana’s commitment to fostering innovation and supporting startups.
Advancements in Emerging Technologies
The state also hosted the Global AI Summit 2024, which drew participation from over 10 countries and attracted 10,000 attendees. Telangana partnered with global tech leaders like NVIDIA, Microsoft, and AWS to develop AI infrastructure. The GCC Conclave was another landmark event, bringing together over 200 Global Capability Centers (GCCs) to collaborate with startups. Additionally, initiatives like T-Hub have been actively mentoring startups to drive innovation.
Telangana also organized MATHACK 2.0, a global hackathon, which saw over 10,000 applications and participation from more than 2,700 teams, further solidifying the state’s position as a hub for emerging technologies.
Global Capability Centers (GCCs)
Several international companies have chosen Hyderabad as a base for their advanced operations. FedEx established its Advanced Capability Community in the city with an investment of $1,000 million, creating 1,000 jobs in its first year. German automotive safety innovator ZF Liftec also launched one of its three global R&D centers in Hyderabad, employing 450 engineers in its initial phase.
Conclusion
Telangana’s remarkable progress across IT, industries, and innovation showcases its potential as a global technology and industrial hub. With continued investments, job creation, and support for startups, the state is paving the way for a brighter future for its people and economy.
