Express Illustration.
HYDERABAD: With its strong ecosystem in IT, pharma, life sciences and real estate, Hyderabad is surging ahead as the economic powerhouse of India, according to ‘Hyderabad: The Sprint’ by UK headquartered real estate services giant, Savills.
It is anticipated that revenues from the life sciences sector in the State will be 3-4 times the current levels and reach $40-50 billion by 2030. This apart, Hyderabad’s EV ecosystem is likely to witness $3-4 billion investments, employing more than one lakh people by 2030.
Creation of a world class Telangana Mobility Valley (TMV) is also a big step in this direction. Proactive government policies such as Information Communication Technology (ICT) Policy 2.0, Telangana Electric Vehicle and Energy Storage Solution Policy, Space-Tech framework, state-wide optical fiber network and Growth in Dispersion (GRID) policy, and TS-ipass, have powered the growth story of Hyderabad.
Reacting to the report, IT & Industries Minister KT Rama Rao said the Telangana government was committed to creating the best in class business hub for the next several generations.In FY22, almost 1.5 lakh employment opportunities were released in the IT/ITeS sector which in turn translated to a phenomenal one-third of the IT related jobs in the country. By the end of FY22, IT/ ITeS employed around 7.8 lakh people in the State (primarily Hyderabad). The State has laid a sharp focus on sectors such as life sciences, data centres, EV ecosystem, AVGC and aerospace.
Currently, around 150 Animation, Visual Effects, Gaming and Comics (AVGC) companies provide direct employment to approximately 30,000 people. With significant impetus from the State government, the sector can support up to one lakh people in the next five years. The Maintenance, Repair & Overhaul (MRO) industry within the aerospace segment in the country is likely to reach $2-3 billion in the next five years, and Hyderabad is likely to play a prominent role in it.
Since the formation of Telangana, Hyderabad has been at the top in terms of leasing activity. Residential real estate has also been strong, with the city registering the highest housing sales in 2022 in the last eight years.
Data centres, the sunrise sub-sector within real estate, have emerged as a favourite asset class for investors. Of the 500 acres of data centre related land transactions in 2022 in the country, around 26 per cent came from Hyderabad, the report said.
