Hyderabad: Telangana has taken a major step towards global prominence in the AI sector by signing a Memorandum of Understanding (MoU) with the World Trade Centres Association (WTCA) to set up a World Trade Centre in the prestigious AI City, Hyderabad.
The agreement was formalized in the presence of Telangana IT Minister, Duddila Sridhar Babu, during the Global AI Summit 2024 on Friday, September 6.
The WTC AI City will encompass over 1 million square feet of built-up space, hosting companies at the forefront of artificial intelligence and emerging technologies. This initiative is set to become one of the largest capacity-building projects in the global AI domain.
The AI City will provide world-class office spaces, trade services, training facilities, retail and entertainment areas, co-living spaces, a luxury hotel, and primary healthcare services. This development is part of Telangana’s leadership vision to create an integrated smart city promoting a “walk-to-work” lifestyle.
Speaking on the occasion, Minister Sridhar Babu highlighted the importance of this partnership for the state’s ambitious IT export goals. “Having the World Trade Centre in the upcoming AI City is key to our objective of increasing IT exports from $32 billion to $200 billion. This collaboration is a testament to Telangana’s dedication to driving economic growth through international cooperation,” he said.
He further added that the WTC AI City will accelerate Telangana’s IT export growth and cement the state’s position as a global leader in AI innovation.
Robin van Puyenbroeck, Executive Director of WTCA in New York, praised Telangana’s leadership for its bold vision and swift action in securing the WTC license. “Typically, obtaining a license for a new World Trade Centre is a long process. However, Telangana’s visionary leadership expedited the approval, completing it within a record one-week timeframe,” he said.
As global companies increasingly shift their IT investments towards digital technologies, Telangana is strategically positioning itself to lead AI-driven growth and innovation.
