In a significant move to bolster Hyderabad’s growing tech ecosystem, IT and Industries Minister Duddilla Sridhar Babu has announced plans to establish two new IT parks on the outskirts of the city. The announcement, made at a high-level meeting at the Secretariat on Tuesday, aims to sustain Hyderabad’s momentum as a rapidly developing IT hub, attracting global companies and investments.
Speaking at the meeting, Sridhar emphasized the government’s commitment to maintaining the city’s growth and facilitating further investments. “Hyderabad is a rapidly growing IT hub, attracting global companies. We are developing two new IT parks on the lines of HITEC City to maintain this pace,” he said.
The government is currently conducting a study to finalize the locations and land requirements for the new parks, ensuring they are strategically placed to offer seamless connectivity and accessibility. The proposed IT parks will feature world-class infrastructure, including robust transport systems and essential facilities for professionals, fostering an efficient working environment to help professionals thrive.
Also Read: Hyderabad to Get Its First Multi-Level Mechanised Parking Complex at KBR Park
Addressing concerns about land allocation, Sridhar introduced a new dedicated land allocation policy aimed at overcoming previous challenges faced by entrepreneurs. The policy will ensure that land is allocated based on investment size and potential job creation, creating a more structured approach to industrial growth.
The announcement also coincides with a major investment from Dew Software Company, which has pledged Rs 100 crore towards Hyderabad’s IT sector. This investment reaffirms the city’s position as a leading IT destination and is expected to create 900 jobs for professionals over the next five years.
The meeting was attended by key officials, including Ajit Reddy, Principal Secretary to the Chief Minister; Dr. Vishnuvardhan Reddy, Managing Director of TSIIC; Madhusudhan, CEO of TGIIC; Suresh, President of Dew Ventures; and Jhansi Reddy, Congress Party in-charge for the Palakurthi constituency. With these developments, Hyderabad is poised to further strengthen its reputation as a top technology hub in India.
(This story is sourced from a third-party syndicated feed. Raavi Media takes no responsibility or liability of any nature. Raavi Media management/ythisnews.com can alter or delete the content without notice for any reason.)
