Monday, June 17, 2024
    HomeHyderabadBengaluru on the verge of being surpassed by Hyderabad City

    Bengaluru on the verge of being surpassed by Hyderabad City

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    Minister for Municipal Administration and Urban Development Ponguru Narayana has said that the phase one development works of Amaravati, the state capital, will be completed in the next two and a half years.

    Hyderabad is rapidly developing as the fastest growing city in the field of Information Technology, thanks to the visionary decisions of Chief Minister K Chandrashekar Rao. The city is now home to around 1,500 IT and ITES companies.

    Since the formation of Telangana, the value of IT exports has increased to Rs 2,41,275 crore and 9,05,715 jobs have been created. There has been a 31.44% increase in exports compared to the previous year. The government’s efforts have attracted major investments from companies like Amazon, National Payment Corporation of India, Salesforce, Goldman Sachs, Massachusetts Mutual Life Insurance, and Oppo.

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    Hyderabad has become a focal point for leading companies in the corporate sector, with many setting up their largest and second largest campuses in the city. This growth can be attributed to the political stability, efficient leadership, and progressive industrial policies of the State government.

    Also read:  KCR requests Justice Narasimha to step down from PPAs investigation

    Despite the negative impact of the Covid-19 pandemic on the economy, the IT sector in Telangana has thrived. In fact, it is projected to surpass Bengaluru as the Silicon Valley and IT capital of India.

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    Overall, Hyderabad’s IT sector is experiencing remarkable growth and is contributing significantly to the development of the city and the state.

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