IT exports crossed Rs 3.6 lakh cr, says Sridhar Babu

Hyderabad: Telangana's technology sector generates over $40 billion (approx Rs 3.6 lakh crore) in IT exports, even as the nearly 400 global capability centres (GCCs) currently housed in Hyderabad employ over three lakh professionals, IT and industries minister D Sridhar Babu said on Saturday. He revealed the latest IT exports data while speaking at the CFO Summit organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) here. Sridhar said Telangana is rapidly emerging as a global hub for AI-driven financial technology, with several leading global financial institutions setting up their major innovation and engineering centres in the city. He said AI is reshaping how organisations view technology, transforming these GCCs from cost centres to strategic value-creation engines that support growth, innovation and sharper financial decision-making.
Pointing out that Hyderabad built one of the world's strongest fintech ecosystems, he said the city houses some of the largest technology and analytics centres for global financial majors such as Vanguard, UBS, Wells Fargo, Bank of America, MassMutual, Franklin Templeton, JPMorgan Chase, Goldman Sachs and Citigroup.He said the state is preparing for the next phase of growth through initiatives such as AI City, Future City and AIKAM, aimed at strengthening the AI ecosystem, expanding digital infrastructure and developing large-scale talent for an AI-driven economy. Highlighting the changing responsibilities of finance leaders, the minister said CFOs are increasingly becoming central to digital transformation, guiding investments in technology, AI and data-driven capabilities that will determine the future competitiveness of global enterprises.Get the latest lifestyle updates on Times of India, along with Women's day wishes, messages and quotes !