Telangana government goes for new financial districts


By Accommodation Times News Service

The demand from the Corporates, Banks and other financial services institutions is taking a huge leap in the growth making Telangana government to develop 50acres spread financial district. It seems that 75-acre of the district hub is completely saturated.

Information Technology Secretary Jayesh Ranjan said, Ahmedabad has created some fantastic infrastructure called Gujarat International Finance Tec-City (GIFT) but in terms of technology, Mumbai and Ahmedabad do not match up to Hyderabad. Today’s financial world is driven by technology and since Hyderabad has a proven record in technology promise, we want to become the new BFSI capital, challenging Mumbai and Ahmedabad. The second financial district is part of this larger plan to re-position ourselves and other facilities to the corporates.

The Telangana State Industrial Infrastructure Corporation Ltd is looking such as Pup Palguda, Tella pur and Nagu Lappali for the proposed project.

Adding further he said, the second financial district is being planned as there is barely any space left in the existing Financial District, and the new one will allow the government to provide land for BFSI companies that are keen on either setting up new units or expanding their base in the city, he explained. “We are also working with industry veterans to guide the state in positioning itself as the new BSFI capital of the country.While the location is yet to be finalized, we have asked the TSIIC to assess three areas -Puppalguda, Tellapur and Nagulappali -and whichever has the best infrastructure will be selected.

As part of the plan to emerge as the new “financial capital”, the IT secretary said the state government will also be working in the areas of skill development. It is mulling introducing courses in BFSI through the Telangana Academy for Skill and Knowledge (TASK).


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