Telangana’s Minster for IT K. Taraka Ramarao (KTR) has welcomed US-based iPhone manufacturer Apple for setting up technology development center in Hyderabad.
Sharing the news about Apple’s plan to open the center with investing about $25 million (Rs. 170 crore), the minister wrote in his Facebook post: “Thank you Apple. Welcome to #HappeningHyderabad!”
The California-based company’s new center is likely to employ 4,500 persons. And the center will be set up on a sprawling 2,50,000 sq ft space in Tishman Speyer’s WaveRock facility in Hyderabad, according to an ET report.
A spokeperson from the company reportedly said that Apple is investing to expand its operations in India where there’s a vibrant developer community.
Confirming the details of Apple’s investment in Hyderabad, Telangana’s IT Secretary told ET that “MoU will be signed after some approvals come.”
Apple is the latest global tech player to come to Hyderabad. Recently, Internet giant Goolge and tech major Microsoft announced their plans to invest in the newly formed state of India.
Ecommerce major Amazon, social networking giant Facebook, cab service provider Uber, computer manufacturer Dell, and consulting firm Deloitte are the big names who already have presence in Hyderabad.
TRS led Telangana has come up with an investor-friendly policy to attract businesses from across the globe. Its single window clearance system, which promises all clearances within just two weeks, is worth mentioning here.
Apple is known world over for its eye-catching high performance products such as iPhones, MacBooks, iPods, iTunes, and Apple Watch.
In its quarter financial results reported last month, Apple produced quarterly net income of $18.4 billion.
Apple CEO Tim Cook said: “Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV.”