London Stock Exchange Group to set up Technology Centre of Excellence in Hyderabad

Hyderabad: Telangana IT and industries minister K.T. Rama Rao’s four-day tour of the United Kingdom (UK) to attract investors to Telangana has got off to a good start. London Stock Exchange Group PLC (LSEG) announced that it will establish a Technology Centre of Excellence in Hyderabad, which will generate employment for about 1,000 people in a year.

The announcement was made after the minister met with Anthony McCarthy, Group CIO, LSEG in London.

A Memorandum of Understanding (MoU) in this regard was signed by Jayesh Ranjan, principal secretary of IT and industries departments, and Mr. McCarthy. E. Vishnu Vardhan Reddy, special secretary, investment promotion and NRI Affairs; Konatham Dileep, director of Telangana Digital Media Wing; and Amarnath Reddy Atmakuri, chief relations officer were present at the occasion.

Investments in Telangana

K T Rama Rao pitched for Telangana as an ideal investment destination in a roundtable hosted by Mr Vikram K Doraiswami, the Indian High Commissioner in London. The round table was attended by potential investors from various industries.

9-Year-Growth Showcased

A powerful presentation of the last nine-years of growth by prioritizing innovation and infrastructure creation was showcased. In both agriculture and information technology Telangana is growing at a tremendous rate. Apart from industrialization, there is also an improvement in green cover in the state, explained KTR.

Various Initiatives

The industrial policy, single window system, TS-iPass and reducing bureaucratic red tape were explained in detail. The city of Hyderabad was highlighted as a powerhouse of technology generating maximum technology jobs in the country. A robust ecosystem for electronics, aerospace, defense, food processing, mobility and textile was showcased in a detailed manner.

Existing ecosystem of research organisations, educational institutions and start-up's were explained in detail. There is also collaboration of Telangana Government with UK educational institutions like King's College and Cranfield University.

Mr Vikram K Doraiswami in his deliberations explained that Hyderabad was equipped with world-class infrastructure and multicultural environment making it the perfect destination for investors.

British Indian businessman Karan Bilimoria said, "Telangana's past decade in doubling its per capita income in less than ten years is noteworthy. "

Jayesh Ranjan, Principal Secretary of IT and Industries Departments, E Vishnu Vardhan Reddy, Special Secretary, Investment Promotion & NRI Affairs, were present at the occasion.