Hyderabad: The US Consul General Hyderabad Katherine Hadda on Tuesday inaugurated the Copart India Technology Centre (CTIC) at Gachibowli. The CTIC is the India arm of US-based global online vehicle auctions leader Copart Inc.
Addressing on the occasion, Katherine Hadda said “Hyderabad is a prime destination for tech companies”. She added “nearly 130 US companies having set up their facilities in Hyderabad” and termed this number as “extraordinary”. She said, there are 40 high level groups that are working on several issues today, and appreciated the welcoming stance of TRS government for companies looking to invest or set up business in Telangana State.
Katherine Hadda added that the Telangana State government which has been thinking ahead about the future needs of the market has helped placing Telangana at the top of all states in the ease of doing business by the World Bank. She appreciated the young talent Hyderabad offers, pressing that a lot of talented people in India from different fields have come to Hyderabad for more opportunities.
Telangana IT secretary Jayesh Ranjan appreciated the ‘niche technology’ of Copart’s online auctioning system and the setting up of CTIC adding that it was the small and medium companies like Copart that actually provide numbers for Hyderabad to grow, in addition to the tech major such as Google, Amazon and Microsoft among others.
He assured government’s support to Copart in subsidising the facility rentals and electricity bills and invited Copart to avail State government’s benefits for small and medium scale establishments that encourage such enterprises.
“The Telangana State government’s TASK initiative can endow a batch of students with the required technical skills to ready them for employment at companies like Copart”, he stated complimenting the company’s plan to hire 120 people by the end of 2017, and doubling the number by next year.
Speaking on the occasion, Copart Inc executive vice president said “The company has nearly 200 yards globally, and has set up a yard in Delhi and Hyderabad. We’re aiming at setting up around 50 yards in India gradually.”
Copart India Technology Centre director Abdul Khuddus said nearly $2 million have been invested in Indian facility. Hyderabad provides great opportunity to companies like Copart.
“The technology support, which is the backbone of the company’s unique system, will be developed and improvised at this facility”, he added.
Nearly 1,600 vehicles that were totalled by disastrous Chennai floods were acquired by Copart and sold online to bidders on its website. During the Katrina floods in the United States, 2,00,000 End of Life Vehicles (ELVs) and cars that were damaged were auctioned on Copart to online buyers.
The company sells about 2 million dead cars every year, and aims to double the numbers gradually. Copart has presence in 190 locations across 11 countries with a Rs 45,000 crores market capital. The company also processes used cars, cars dumped by owners or seized by insurance companies, mostly end of life vehicles. “The company has grown by 35 per cent in the last two years. There is huge opportunity in Hyderabad due to its technical prowess,’ said the EVP.