KTR UK tour to attract investors: LSE Group to set up tech centre for excellence in Telangana

London Stock Exchange Group PLC (LSEG) announced that it will establish a Technology Centre of Excellence in Hyderabad.

ByRaj Rayasam

Published May 13, 2023 | 1:48 PMUpdatedMay 13, 2023 | 1:48 PM

IT Minister KTR with Indian High Commissioner in London Vikram K Doraiswami and Principal Secretary Jayesh Ranjan in UK

Telangana IT and Industries Minister KT Rama Rao’s (KTR) four-day tour of the UK to attract investors to Telangana has got off on a positive note.

The London Stock Exchange Group PLC (LSEG) on Friday, 13 May, announced that it will establish a Technology Centre of Excellence in Hyderabad, which will generate employment for about 1,000 people in a year.

MoU signed

A Memorandum of Understanding (MoU) in this regard was signed by Jayesh Ranjan, principal secretary of the IT and Industries Departments, and Anthony McCarthy, Group CIO, LSEG.

E Vishnu Vardhan Reddy, Special Secretary, Investment Promotion & NRI Affairs, Konatham Dileep, Director, Telangana Digital Media Wing, and Amarnath Reddy Atmakuri, Chief Relations Officer, were present at the occasion.

The establishment of the Technology Centre of Excellence by the LSEG in Hyderabad is a significant boost to the banking, financial services, and insurance (BFSI) sector in the city. The move is expected to create ample employment opportunities and drive growth in the industry.

Telangana: An ideal investment destination

The LSEG is a leading global financial market infrastructure and data provider, operating in 70 countries worldwide and serving customers in 190 countries.

Later, KTR pitched Telangana as an ideal investment destination at a roundtable hosted by Indian High Commissioner Vikram K Doraiswami in London. The round table was attended by potential investors from various industries.

The minister’s presentation showcased the growth of Telangana achieved in the last nine years, its progress in addressing basic issues and prioritising innovation, and infrastructure creation.

He emphasised that Telangana’s economy was growing at a brisk pace recording growth in both agriculture and IT. At the same time, rapid industrialisation and improvement in green cover were witnessed, he added.

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Telangana’s progressive industrial policies

KTR also spoke about Telangana’s progressive industrial policy and revolutionary single window system, TS-iPASS, which streamlines investment processes and reduces bureaucratic red tape.

Hyderabad, Telangana’s capital, was highlighted as a tech powerhouse generating the highest number of tech jobs in the country. The state’s robust ecosystem for electronics, aerospace and defence, food processing, mobility, and textiles sectors was also showcased by the Minister during his presentation.

The minister added that Telangana has the most comprehensive innovation ecosystem with research organizations, educational institutions, startups, and marquee companies across sectors. The minister specifically mentioned about the Telangana Government’s collaborations with UK educational institutions like King’s College and Cranfield University.

The industries minister said that Telangana is situated on the Deccan Plateau, which is safe from all kinds of disasters. He explained to the prospective investors on how five revolutions were unveiled in Telangana which offers numerous opportunities for the food processing sector. “The Telangana government is committed to providing investors with a favourable and inclusive environment to promote partnerships and celebrate investments,” the minister said.

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Scope for collaborations

During his address, Indian High Commissioner in London Vikram K Doraiswami highlighted ample collaboration opportunities in sectors such as heavy machinery, aviation and defence, entertainment, and education during the investment roundtable in London.

He praised Hyderabad for its world-class infrastructure, and its multicultural environment, making it a perfect destination for investors. Doraiswami emphasized the importance of nurturing partnerships and celebrating investments.

British Indian businessman Karan Bilimoria commended the remarkable achievements of Telangana during the investment roundtable hosted by the Indian High Commission in London. He praised the State’s infrastructure and particularly mentioned the new Secretariat building, BR Ambedkar Telangana State Secretariat, as fabulous.

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Bilimoria also lauded the noteworthy development of Telangana in the past decade, with the state doubling its per capita income in less than ten years. He expressed his happiness to hear about the growth and development of his hometown Hyderabad, calling it great news.