HYDERABAD: Stating that Telangana is outperforming other States in many sectors, IT & Industries Minister KT Rama Rao said Hyderabad will leave behind Chennai, Bengaluru, Pune and others as it is growing exponentially with talented employees coming from all parts of India to work in the city.
After inaugurating Microchip’s new R&D facility in Kokapet, Rama Rao highlighted that Hyderabad has played a significant role in job creation in the technology sector. As per NASSCOM, out of the total jobs created in the technology sector in India, 44 per cent have originated from Hyderabad, he added.
The city’s progress in the IT sector has been remarkable since the formation of the State in 2014. The number of jobs in the IT sector has surged from 3.23 lakh in 2014 to 9.05 lakh in 2022-23. The software industry in Telangana has also seen impressive growth, increasing from Rs 56,000 crore to Rs 2.41 lakh crore during this period, the minister pointed out.
“Come next year, Hyderabad will be in a position to produce 50 per cent of the vaccines in the world as efforts are on to produce 14 billion vaccines, up from the present 9 billion vaccines. It will not be surprising if one of every three vaccine shots given in the US will be from Hyderabad,” he added.
Microchip’s investment in its new R&D facility in Hyderabad is a testament to the city’s growth potential. This new centre adds to the company’s existing centres in Bengaluru and Chennai, and sales offices in Bengaluru, Chennai, Hyderabad, Pune and New Delhi. The relocation of the R&D centre is part of a larger multi-year investment initiative, demonstrating Microchip’s commitment to expanding its presence in this thriving regional semiconductor hub, a release said.
Ganesh Moorthy, president and CEO of Microchip, expressed excitement about the new facility. “Building on nearly 25 years of successful operations in India, this new facility will enable us to execute Microchip’s growth plans for many years to come. It is ideally situated in one of India’s top business corridors and will enable us to significantly expand headcount to support global Microchip business needs and our growing customer base in the region,” he added.