Hyderabad: Chief Minister A. Revanth Reddy began his meetings with heads of multinational companies (MNCs) in the United States with a bang on Monday.
He concluded a massive expansion agreement with global major Cognizant, which will include a new facility in Hyderabad spread over 10 lakh sq. ft. This will also create 15,000 jobs.
Cognizant, a global leader in IT services and consulting, announced their major plans for Hyderabad, after meeting Revanth Reddy and IT and industries minister D. Sridhar Babu in New York. The foundations for this new agreement were laid out during the Davos visit of the Chief Minister and his delegation earlier this year.
The company, which has chosen Hyderabad for a new centre, will be able to accommodate 20,000 employees in course of time. This decision underscores Cognizant's commitment to leveraging Hyderabad’s rich talent pool and robust infrastructure to support its global operations, the company said.
The announcement comes close on the heels of the successful meeting the Revanth Reddy-led team had with Ravi Kumar S., CEO of Cognizant. The discussions highlighted the strategic importance of Hyderabad as a growing hub for technology and innovation in India.
"We are excited to expand our presence in Hyderabad, a city that continues to demonstrate its strengths as a technology and innovation hub," Ravi Kumar said.
The new centre will enable Cognizant to serve global clients better and continue to deliver cutting-edge solutions in IT services and consulting.
Revanth Reddy congratulated Cognizant for its expansion plans, while also emphasising the government's commitment to fostering a conducive environment for IT and business services.
"The expansion of Cognizant's operations in Hyderabad is a testament of their confidence in the city's growing reputation as a global destination for technology companies," he said.
"We are happy to support Cognizant in their growth journey and are looking forward to the positive impact this expansion will have on our economy," Reddy added.
Sridhar Babu highlighted the significance of this expansion, saying, "Hyderabad's vibrant tech ecosystem continues to attract leading global companies. Cognizant's decision to establish a new centre here strengthens our position as a leading IT hub.”
The new centre in Hyderabad will focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions. This expansion is expected to create numerous job opportunities, further bolstering Hyderabad's standing as a key player in the global technology landscape.
The Telangana team also visited the historic New York Stock Exchange.
"It was wonderful to explore the building, learn about its achievements, its eloquent statement of greatness, witnessing economic history being written for so long. My colleague D. Sridhar Babu and several team members have returned with a greater resolve to scripting and replicating an equally amazing story back home. Heading to the next meeting to garner more business, investment and jobs for our state (sic)," Revanth Reddy said in a post on X.
