Hyderabad is a no-nonsense city, says KTR, welcomes CITCO
Industries Minister KT Rama Rao launched global alternative investment assets servicer CITCO's new unit at Knowledge City here on Tuesday.
Hyderabad: IT and Industries Minister KT Rama Rao on Tuesday made a strong pitch for global alternative investment asset servicer CITCO to set up its second largest campus in the world in Hyderabad, calling the State capital a ‘no-nonsense city’ that maintained strict law and order and one that had witnessed an ‘explosive tech growth’.
Speaking after inaugurating the new permanent facility of CITCO’s Centre of Excellence in the Salarpuria Sattva Knowledge City here, Rama Rao said Hyderabad was a melting pot of cultures, where people from across the nation feel at home. As a result, in just nine years, the number of employees in the technology sector had grown from 3.25 lakh to 10 lakh, which was ‘truly explosive’, he said, stating that credit should be given where it’s due to a city that embraces diversity and inclusivity.
Also Read
Pointing out that CITCO had made a wise choice by setting up its unit in Hyderabad with 1,300 employees, he however pointed out that CITCO centres at Manila and Toronto employed 3,500 and 2,500 people respectively. Major banking and services companies like JP Morgan, Goldman Sachs and others had set up shop here in the last five years. Hyderabad was also home to Amazon’s largest campus, the second largest campus of Microsoft, Meta, Apple, Google, Uber, Micron, Qualcomm and quite a few others, he said, asking Jay Peller, Head of Fund Services, CITCO Fund Services (USA) Inc., whether he got the drift, and said CITCO’s second largest campus in the world should also be here in Hyderabad.
Asking the CITCO employees whether they were enjoying the haleem and biryani in the Ramzan season, he suggested Peller and others to try out the dishes and said Hyderabad welcomed all cultures.
“Hyderabad is a no nonsense city. We do not tolerate any kind of hatred or violence. No nonsense is allowed and law and order here is tough and strict. More importantly, there is a beautiful ecosystem on the education, academic and innovation end, he said, also taking a dig at the L&O situation in Uttar Pradesh by asking an employee from UP to tell Yogi that Telangana was taking good care of him.
Pointing out that IMAGE Towers, the Centre for animation, gaming, entertainment and multimedia was coming up on 18 acres and would be the world’s largest innovation campus, the Minister also said Hyderabad had plenty of institutions and business schools and other academic establishments as well for those who interested in pursuing career opportunities or to upgrade skills.
“After the move to Hyderabad nearly two years ago, we are delighted that the construction of our new Center of Excellence is now complete. The state of the art office will ensure we are well-positioned to support the growth of CITCO not simply in the region, but also globally,” Peller said.
Amit Verma, General Manager, CITCO Group Services (India) LLP Hyderabad, said the city was becoming one of the region’s most prosperous economic hubs, and that the region had unparalleled access to a growing base of agile, skilled talent.
