Hyderabad, the capital of Telangana, is famous for its rich background, cuisine, and multilingual culture. Nowadays, it seems that the city will be India’s Information Technology Hub. Notably, with the evolution of IT Hub, the city is also sometimes commonly called “Cyberabad”.
Currently, Hyderabad is among the global centres of Information Technology. Primarily, the city is promoting the IT infrastructure with several IT zones. To promote the industry, the city also built an infrastructure known as the Hitech City, which attracted some global blue chip :firms to establish their operations. These major firms include Google, Microsoft, Amazon, and more.
Moreover, it is notable that outside the United States, Microsoft’s largest Research & Development campus is situated in Hyderabad.
Can Hyderabad be the largest IT Hub in India?
We can witness major IT firms operating in Hyderabad. Still, compared to other Indian cities, some wonder why Hyderabad should become the greatest Information Technology Hub.
To understand the suitability, we can give a glimpse of different industry-friendly practices and the environment around the city.
Notably, the Government of Telangana is also playing a vital role in making the city the next IT Hub. To help, the Government is providing necessary methods and support for industry evolution. Notably, as the Government is helping build the IT infrastructure, experts have noted that the cost and time for opening up a start-up are by-far most favourable in terms of cost time.
On the other hand, observing the infrastructure, it is noted that Hyderabad has lower real-estate costs than other metro cities like Chennai, Delhi, Mumbai, and Bengaluru. Furthermore, the Government is also working on expanding the city limits by developing more satellite townships on the outskirts.
Following such growth in infrastructure development, Amazon, one of the largest eCommerce firms, chose this city as the home for its largest warehouse. Besides, Uber also invested a lot of money in building its state-of-the-art office in this city, which is eventually the firm’s largest international office.
Hyderabad IT sector witnesses notable growth
In the financial year 2021-2022, Telangana state’s IT/ITES sector report highlighted a significant growth of more than 26%. According to K T Rama Rao, the IT Minister, while unveiling the industry progress, cited that during the period, the industry added more than 778k jobs. Moreover, the minister highlighted that in comparison to other states, Telangana contributed to a third of the net new national employment in the IT sector.
The industry here has managed more than INR 1,83,569 crore in IT exports. Noting the export result and comparing the values when the new state was formed, the IT minister highlighted that Telangana had achieved a Compound Annual Growth Rate of more than 15.6% over the past eight years.
Following the previous progress, the Government have also shared an assumption report. In the report, Rama Rao highlighted that as per the ITIR estimations, the IT industry export for the state was supposed to reach INR 2,09,221 crore over the coming years. Simultaneously, the report cites that the IT exports can potentially surpass the projections without ITIR support. This means the Government is bullish and believes that the state’s 25 years target could only be achieved within 15 years.
India’s premier technology destination
Recently, the Government of Telangana inaugurated their incubation infrastructure in Hyderabad, called T-Hub. It was first launched in 2015 to help start-ups as they cannot afford big office spaces in Cyberabad. Following the inauguration of the infrastructure, the Government believes that the next big breakthrough in the innovation sector will soon come from this city. According to K Chandrashekar Rao, the Chief Minister of Telangana, the state has created a world-class entity at T-Hub to promote entrepreneurship and innovation.
Compiling all the aforementioned scenarios for the IT sector in Hyderabad, it seems evident that the city is poised to grow owing to several favourable factors for industry growth. With vital measures being taken by the Government and enhancing infrastructure, Hyderabad is one of the best cities for young innovators to accelerate their growth and raise funding.
In no time, the IT Hub of Hyderabad will challenge conventional hubs across the globe. Besides, the city is also a better choice because of its new set of regulations and massive number of upcoming development projects.
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