The Telangana government is setting up a very ambitious ‘Future City’, where a special ‘Electronic City (e-City)’ will be developed on 1,000 acres, said State IT and Industries Minister Duddilla Sridhar Babu. He met with representatives of telecom product companies Sira Network (Taiwan) and LCGC Resolute Group Telangana, who have jointly come forward to invest Rs. 300 crore in the state, at the Secretariat on Saturday.
He said that a special task force will be formed with the relevant authorities so that industrialists do not face any difficulties in setting up such industries. He said that special incentives will be given to industrialists who come forward to set up industries in Tier-2 and Tier-3 cities and towns. Necessary infrastructure facilities will be provided in the respective areas as per their needs.
He thanked the representatives of Sira Network and LCGC Resolute Group for coming forward to participate in the development of Telangana. He assured that the government will support them in all ways. This industry, which will be set up on about 10 acres, will provide jobs to 2500 youth. Telecom products like 5G network, multi-layer networking solutions, servers and others will be manufactured here.
The Minister expressed hope that this investment will further strengthen the good relations between Indo-Taiwan. Meanwhile, IT exports in Telangana have doubled. Since the formation of Telangana state in 2014, the state’s IT system has been growing at a rapid pace. The value of IT exports for the financial year 2023-24 has reached Rs. 2.68 lakh crore.
In addition, the state government has exported equipment worth Rs. 1.16 lakh crore, thereby establishing Telangana in the global market. In order to continue exports and further strengthen the economy, plans are being made to establish an export hub in each district and export locally available products. It is hoped that this policy will reduce unemployment in rural areas. It is also hoped that rural areas will also be strengthened in economic progress.
Currently, there are 9.5 lakh employees in the IT sector. It is also promoting cutting-edge systems such as artificial intelligence, gaming, visual effects, animation and other sectors. Presently, there are more than 30,000 employees in these cutting-edge sectors. The state government is planning to take these jobs to one lakh in the future.
