Telangana's Minister for Information Technology and Industry, KT Rama Rao, inaugurated Citco's permanent office for the Centre of Excellence team in Hyderabad on Tuesday. The new state-of-the-art office of Citco, the global alternative investment asset servicer, will cater to its ongoing expansion in the region.
Speaking on the occasion, KT Rama Rao described Hyderabad as a "no-nonsense city" with zero tolerance for hatred and violence. He described Hyderabad as a melting pot that invites, assimilates, and welcomes anybody from any part of India.
"The number of employees in the IT sector in Telangana grew from 3.23 lakh to almost 10 lakh in just 9 years. Hyderabad's tech growth is truly explosive. Let's give credit where credit is due to a city that embraces diversity and inclusivity," KTR said.
The minister claimed that Hyderabad had a stunning ecosystem, both in the academic and innovation sectors. At the event, KTR said the largest innovation campus, which includes T-Hub, T-Works, and the impending Innovation Centre for Animation, Gaming, Multimedia, and Entertainment, was just next to the Citco team's office.
He claimed that the city had academic institutions, business schools, and skilling institutions for people looking to pursue job options.
Pointing out that Hyderabad was home to Amazon's largest campus and the second-largest campuses of tech giants like Microsoft, Meta, Google, Apple, Uber, and Micron, KT Rama Rao asked Citco to set up the second-largest headquarters in the world in Hyderabad.
The CoE provides a range of support in relation to fund and banking services for Citco and its international client base, helping both to operate more efficiently and effectively via Citco's portfolio of award-winning proprietary technologies.