In a significant boost to Telangana’s banking, financial services, and insurance sectors, the London Stock Exchange Group PLC (LSEG) has announced its decision to establish a Technology Centre of Excellence in Hyderabad, generating employment for approximately 1,000 people in a year.
The announcement came after IT and Industries Minister KT Rama Rao met with Anthony McCarthy, Group CIO, LSEG, in London while on a tour of the United Kingdom.
A memorandum of understanding was signed between the Telangana government and LSEG, according to a statement on the Minister’s official Twitter handle. McCarthy and Jayesh Ranjan, Principal Secretary (IT and Industries), signed the memorandum of understanding.
The London Stock Exchange Group is a leading provider of global financial market infrastructure and data, with a rich history going as far back as over 300 years.
LSEG has a global presence, with operations in 70 countries and customers in 190 countries.
E Vishnu Vardhan Reddy, Special Secretary, Investment Promotion & NRI Affairs, A Amarnath Reddy, Chief Information Officer, ITE&C Department were also present.
On Wednesday, IT and Industries Minister KT Rama Rao embarked on a tour of the United Kingdom to bring in investments to the State.
As part of the three-day tour, the Minister will meet with industrial leaders and business associations to promote Telangana’s investment-friendly environment and its impressive progress across several industries.
The visit comes at a critical time for Telangana, which is looking to attract more investments and boost its economy. KTR’s efforts to demonstrate the state’s investor-friendly policies are expected to bring in good results and bring more investment to the region.
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