Hyderabad may become top global IT destination in next 3-4 yrs

Hyderabad, which ranked second in the country with IT exports worth about Rs 67,000 crore in 2015-16, may become the top-ranked IT destination globally in the next 3-4 years period, Telangana Minister of Finance and Planning Etela Rajender said today.

"The future I see for IT industry in Hyderabad is one which focuses on creation of IT products, services and interactive experiences that define new opportunities in the global markets," said Rajender while inaugurating a seminar on 'Ease of Doing Business in Telangna', organised by Associated Chambers of Commerce and Industry of India (ASSOCHAM).

An ASSOCHAM press release quoted him as saying that Central government would be investing Rs 10,000 crore in Hyderabad as part of its scheme of Information Technology Investment Region (ITIR).

He said that to encourage investors for quick implementation of their projects, to streamline the regulatory process at a single point and to provide investor friendly environment, the state government has enacted the Telangana State Industrial Project Approval and Self Certification System - TS-IPASS.

"TS-IPASS is a concept to provide all entry level services to entrepreneurs with minimum interference from departments in a transparent manner within specified time leading to hassle free approval," the minister said.

Earlier in his address, K Manicka Raj, Commissioner, Department of Industries, Telangana government, said the state would emerge as India's major pharmaceutical hub in the next two years.

"With Pharma City and common facilities coming in, I can foresee in the next two years, setting up a pharma unit for any multinational or investor is going to be much easier in Telangana than any other state in India," Raj said.

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