Minister for IT and Industries D. Sridhar Babu with AMCHAM leaders at the event in Hyderabad.
Telangana’s strategic initiatives, business-friendly environment and focus on innovation have attracted investments, fostered talent and supported startups, helping to consolidate the state’s position as a preferred destination for global technology companies, IT and Industries Minister D. Sridhar Babu said.
The state’s IT sector saw substantial growth in 2024, driven by a focus on emerging technologies, a robust startup ecosystem, and advancements in cybersecurity. The state has seen a rise in artificial intelligence (AI), Internet of Things (IoT) and blockchain initiatives. AI, in particular, has flourished with the support of startup incubator T-Hub, while IoT has found applications in agriculture, smart cities and manufacturing. Blockchain initiatives were targeting sectors such as supply chain and healthcare, the minister’s office said on Monday about its participation in AMCHAM India Hyderabad Chapter’s Tech-Scape Telangana event.
As new companies in fintech, healthcare, and education attract increased interest from angel investors and venture capitalists, startups have continued to grow and some have gained international recognition, highlighting the global potential of the state. Cybersecurity has also become a priority, with new startups tackling emerging threats, alongside government measures to strengthen data protection and raise cybersecurity awareness.
The key achievements of Telangana’s IT sector include strong growth in exports, surpassing the national average and significant employment generation, contributing to the economic growth of the state. Domestic and international investments have also increased, supported by government initiatives such as T-Hub, which supports startups and entrepreneurs, the minister’s office said.
Telangana is positioning itself as a leader in AI with plans to develop a 200-acre AI City near Hyderabad that will serve as a hub for AI research and innovation. Partnerships with global tech giants like Microsoft and NVIDIA are expected to help train thousands of students, workers and government officials in AI, cybersecurity and digital skills. The state’s continued collaboration with industry leaders could further cement its status as a technology powerhouse, with the potential to become the AI capital of India. The state government is actively encouraging businesses to expand in Telangana, providing support and enabling environment for innovation, Mr. Sridhar Babu’s office said.
Published – September 30, 2024 at 9:31 p.m. IST
