Government of Telangana conducts Road show in Mumbai for promoting and attracting investments into Banking, Financial Services and Insurance sectors

Government of Telangana conducts Road show in Mumbai for promoting and attracting investments into Banking, Financial Services and Insurance sectors

The Government of Telangana conducted an Investment Promotion Roadshow in Mumbai on the 17^th of July 2015. The focus of the Information & Networking session has been to interact with Banking, Financial Services and Insurance firms based in Mumbai and invite them to set up their operations in Hyderabad.

This is in line with the Government of Telangana’s vision to make Telangana “the most preferred investment destination in the country”. Sri. K.T.Rama Rao, Hon'ble Minister for Panchayat Raj and Information Technology (IT) Government of Telangana addressed a large gathering of leaders from National and Multi-national Banking corporations, and other financial services firms including private equity and insurance companies based in Mumbai and invited them to set up /expand their operations in Hyderabad.

Also present at the event were Sri. Jayesh Ranjan, IAS, Secretary ITE&C Department and other industry leaders, senior executives and entrepreneurs.

During the conference, Sri. K.T.Rama Rao, Hon'ble Minister for IT spoke about the Government’s vision for Hyderabad. The goal is to develop the city into a global financial hub along the lines of New York, London, Tokyo, Mumbai etc. Hyderabad already boasts the presence of global finance corporations such as Wells Fargo, HSBC, UBS (Cognizant), Bank of America, RBS, HDFC, Nova Scotia Bank etc. After the successful initiative of building the Financial District (Phase 1), which has attracted companies such as ICICI, Franklin Templeton etc., the state is now developing Financial District Phase 2 – a much bigger initiative. Highlighting the advantages of Financial District, the minister said that, Hyderabad – a low seismic activity zone, is the ideal location in the country for financial corporations to set up their Disaster Recovery System Centers. The head office of Insurance Regulatory and Development Authority is in Hyderabad, making it a conducive environment for insurance companies (Health, Non-Health and Life Insurance) to start, scale up and thrive. Owing to the rapid growth in IT, Pharma and Manufacturing sector in the last two decades, the government has added world class educational institutions to the already strong talent pool, thereby helping organizations to hire employees easily. Hyderabad is home to some of the leading research and educational institutions in the country, notably, IIT, IIITH, BITS, ISB, NALSAR & DRDO.

Speaking about the IT development in Hyderabad over the last decade, the minister said that “Hyderabad has rightly emerged as a contender to become the ICT capital of India and with the presence of a large pool of talented IT professionals and as the base for leading MNCs, the city of Hyderabad has the reputation of being the destination of choice for businesses across industries. Government of Telangana aspires to reach a target of Rs.1 lakh Crores of National Exports from the current level of Rs. 60,000 Crores and create 1 million job opportunities in the ICT and Electronics Sector in the next three years. The ICT sector currently employees over 3.25 lakhs IT Professionals making Hyderabad the 2^nd largest IT Exporter in India. The Electronic sector has surpassed exports of US$ 1 billon. Hyderabad has one of the largest concentrations of IT, ITES & Electronics Companies in the country”.

Hyderabad has one of the largest concentrations of Fortune 500 companies anywhere in India. It is home to several Indian IT majors such as TCS, Infosys, Wipro, and global corporations such as Microsoft, Google, Amazon, IBM, Oracle, DELL, Deloitte, JP Morgan, United Health Group, Facebook and so on.

Some of the factors that have made Hyderabad, the preferred destination include its strategic location, which puts the city within a 2 hour flight from almost anywhere in India, as well as easy access to South East Asia. All this comes with a world-class infrastructure and at a cost that compares very favourably with other cities in the vicinity, such as Bangalore and Chennai. Its ‘crossroads’ location and easy access to ports on both the eastern and western coasts have contributed to a rich legacy of entrepreneurship and wealth creation.

The Telangana Government aims to build upon this legacy and develop the city of Nizams into a truly futuristic city, by promoting innovation and technology, developing new growth sectors, and through smart city planning. On-going projects include the path-breaking Hyderabad Metro Rail, advanced traffic management initiatives in line with leading cities in the developed world, and a comprehensive multi-year plan to ensure adequate power to fuel this period of rapid growth, as well as a pioneering project to provide free Wi-Fi to all parts of the city. Key e-governance initiatives have also been taken to serve citizens better and to improve the quality of living through e-learning, e-healthcare initiatives, right down to the Panchayat level.

Speaking to the Media, the Minister reaffirmed that the Telangana Government places prime importance toward the growth of BFSI (Banking, Financial Services and Insurance) sector as it is a key engine for wealth and employment generation in the state. The State Government would continue to create an enabling investment environment with pro-active policy measures and good governance that will establish Telangana as the national leader across all sectors.

Government of Telangana is aggressively promoting development in the state by taking many new initiatives, some of them are highlighted below.

• Financial District (Phase 2): An area dedicated entirely to corporations in the BFSI sectors. This commercial-cum-residential project will have world class infrastructure and beautiful landscaping and will also incorporate ‘smart living’ concepts such as a walk-to-work culture and green buildings.
• Hyderabad ITIR (Information Technology Investment Region) Project spread over 202 sq.km with IT investment potential of Rs. 2, 19, 440 Cr.
• T-Hub: India’s largest innovation incubation facility (Built up area of 300,000 sq.ft). 60,000 sq.ft will be operational by Aug 2015. The objective of the Government is to develop a vibrant ecosystem for providing the requisite support and unleash the entrepreneurial spirit amongst new age youth.
• Industry Friendly ICT and ESDM Policy  with Single Window clearance through TS-IPASS

·         Electronic Manufacturing Clusters: Government of Telangana is coming up with two EMCs close to International Airport. It will attract investments of Rs. 800 Cr and generate employment potential direct and indirect of 14, 000 and 84, 000 respectively.

·         TASK: Telangana Academy for Skill & Knowledge. TASK (Telangana Academy of Skill and Knowledge) academy is a unique and first of its kind initiative in the country aiming to strengthen the quality of graduates coming out of colleges by imparting industry-grade skill sets, both technical and non-technical.

·         NDLM: First state in India to launch the National Digital literacy Mission program across the state.