Business Culture International Legal Legislature Telangana Welfare State

Ideal hub Companies make beeline for establishment of their centres in city

Hyderabad : Several companies announced establishment of their centers, expansion plans and explored prospective collaborations in Telangana during KT Rama Rao’s US tour to USA where the Industries Minister pitched Telangana as an investment-friendly State and an ideal destination to set up operations of companies.

The Minister had meetings with companies such as Mondee Holdings, Storable, Rite Software, The Charles Schwab Corporation, Rave Gears and Tekgence. Mondee Holdings would be setting up a Technology Centre of Excellence in Telangana generating employment for about 2000 people.

The announcement was made after Prasad Gundumogula, Founder, Chairman, CEO of Mondee Holdings, along with the leadership team, Minister Rama Rao in Houston.

Mondee Holdings, Inc is a NASDAQ listed, world’s largest B2B2C travel marketplace and technology innovation company, delivering a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base, processing over 50 million daily searches.

The leadership team of Storable, which established its first Global Development Centre (GDC) in Hyderabad recently, would tap into the city’s talent pool, hiring 100 software developers to start with and to expand further. This collaboration boosts R&D capacity and creates more opportunities for local professionals.

The company also proposed to partner with the Telangana Academy for Skill and Knowledge (TASK) and to engage with the local educational institutions. US-based Rite Software, a leader in digital solutions provider in the ERP domain invited the Minister to inaugurate their new Development Centre in Hyderabad on June 30.

This new Development Centre will provide employment opportunities for over 500 people this year and also establish collaborative partnerships with some of the esteemed academic institutions of Telangana. Rite Software is considering to start a Development Centre in Warangal in near future.

The Charles Schwab Corporation, an American financial services giant, led by Dennis Howard, global CIO, explored potential collaboration opportunities was a key focus of the meeting. Texas-based ‘Rave Gears’ expressed interest in establishing a manufacturing plant in Telangana.

The Tekgence, a global supply chain and digital solutions company expressed their interest to set up an Advanced Technology Center (ATC) on Product Development and Design Thinking in Hyderabad. Tekgence President, Lakshmi Yenigalla, and CEO, Raghu Kommaraju said that the proposed new center would boost Tekgence’s operations and play a crucial part in its growth.