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A shot in the arm for IT sector with AI push
FM Bhatti highlights developing a state-of-the-art AI City on 200 acres in Future City
Hyderabad: The Information Technology (IT) sector, focusing on AI and emerging cutting-edge technologies, has proposed an allocation of Rs 774 crore in the budget for the fiscal year 2025-26. During a presentation of the budget in the state assembly on Wednesday, Finance Minister Bhatti Vikramarka highlighted the remarkable growth of the IT sector in Telangana over the past year.
This growth has been driven by progressive government policies that actively support the expansion of the services industry. With a strong emphasis on advanced technologies such as Artificial Intelligence (AI), Blockchain, and innovative digital solutions, the government is dedicated to promoting technological innovation and modernisation.
In September 2024, the Telangana government hosted the prestigious AI Global Summit 2024, reinforcing the state’s ambition to become a global leader in AI. The summit attracted 10,000 delegates, including industry leaders, AI experts, startup founders, and students from over 100 countries, including the USA, UK, Netherlands, and Malaysia.
During the event, the government signed 20 strategic Memorandums of Understanding (MoUs) with leading AI companies such as NVIDIA, Microsoft, Amazon Web Services (AWS), and CDAC, as well as several promising AI startups. As a significant step towards establishing Telangana as an AI powerhouse, the government unveiled the AI Strategic Roadmap.
This roadmap outlines key focus areas, including fostering AI-driven startups, upskilling government employees and youth in AI, and integrating AI into governance and public administration. As part of the Future City initiative, the Telangana government is developing a state-of-the-art AI City spanning 200 acres. The aim is to transform it into a global hub for AI innovation and enterprise, serving as a centre for leading multinational corporations. In a significant milestone for this initiative, Google has committed to establishing an AI-powered Accelerator Centre within AI City.
