Hyderabad: Telangana Industries and Information Technology minister KT Rama Rao inaugurated four IT companies in Hanamkonda on Friday: LTI Mindtree, Genpact, HRH Next, and Hexad Solutions Private Limited.
The Minister presented appreciation letters to representatives of the enterprises for establishing their operations in Hanamkonda.
The IT minister began talks with Genpact approximately 18 months ago, with its CEO Tiger Tyagarajan in 2021. Students from nearby institutions have already been engaged by the four enterprises, a press note informed.
Genpact employed 400 colleagues from local colleges, LTI Mindtree hired over 60, HRH Next hired 120, and Hexad Solutions Group hired over 50. HRH Next Planning intends to expand its workforce to around 500 people in the following months. At Warangal Design Centre, Hexad Solutions Group provides engineering and design services for wireline, wireless, and CATV communications.
Hyderabad has achieved major advances in information technology by attracting top worldwide businesses including as Google, Microsoft, Amazon, Qualcomm, Uber, Micron, Wells Fargo, Bank of America, JP Morgan Chase, and UBS. Mahindra, MRF, Olectra, Mythra, and Race Energy have also opened new locations in Telangana. In Hyderabad, ZF, Frisker, Stellantis, Hyundai, and Biliti have established campuses.
Hyderabad has become a preferred location through establishing a regulatory framework, infrastructure, and access to human resources. Hyderabad’s exports are expected to exceed 2.2 lakh crore in 2022-23, representing an almost 20% increase year on year from 1.83 lakh crore. With a total employment of 785,614 direct employees in 2021-22, the IT sector added over 1.5 lakh jobs in 2021-22 alone, the press note said.
The IT Centres at Warangal, Karimnagar, and Khammam are already up and running, producing local jobs and having a multiplier effect on the local economy. As an extension of that concept, the state government is currently establishing IT Towers in Mahabubnagar, Siddipet, Nizamabad, and Nalgonda by July 2023, to cater to the rural expansion of IT, the IT ministry said.
