Telangana's Minister for Information Technology and Industries KT Rama Rao has announced on Thursday, May 12 that London Stock Exchange Group PLC (LSEG) will establish a Technology Centre of Excellence in Hyderabad, which will generate employment for about 1,000 people. The announcement was made after the minister met Anthony McCarthy, Group CIO, LSEG in London during his official tour in the United Kingdom.
“Happy to share that London Stock Exchange Group PLC (LSEG) has decided to set up a Technology Centre of Excellence in Hyderabad generating employment for about 1000 people in a year. Many thanks to LSEG for choosing Telangana,”(sic) the minister shared on twitter.
Happy to share that London Stock Exchange Group PLC (LSEG) has decided to set up a Technology Centre of Excellence in Hyderabad generating employment for about 1000 people in a year
— KTR (@KTRBRS) May 12, 2023
Many thanks to @LSEGplc for choosing Telangana #HappeningHyderabad #Telangana pic.twitter.com/kQChlkS8nZ
At an investment roundtable in London that was hosted by the Indian High Commissioner Vikram K Doraiswami, KT Rama Rao, who is in the UK on an official visit, put forward for more investment in Telangana by highlighting the State's progressive policies and highlighting it as an ideal investment destination. Potential investors from a variety of industries reportedly attended the roundtable. The Minister stated that the state government is committed to offering investors an encouraging environment where they can foster collaborations and celebrate investments.
A Memorandum of Understanding (MoU) in this regard was signed by Jayesh Ranjan, Principal Secretary of IT and Industries Departments, and Anthony McCarthy. The establishment of the Technology Centre of Excellence LSEG in Hyderabad is expected to significantly boost the Banking, Financial Services, and Insurance (BFSI) sector in the city. According to a statement issued from the minister's office in Hyderabad, the move is anticipated to generate a number of employment opportunities and spur industry growth.
LSEG is a leading global financial market infrastructure and data provider, operating in 70 countries worldwide and serving customers in 190 countries. With over 2,000 issuers across more than 100 countries and a benchmark of $161 linked to FTSE Russell indexes, LSEG continues to be a major player in the global financial industry.