TS mulls consortium approach to garner IT investments

Conference, product expo, presentation of industry awards mark HYSEA event

A consortium approach involving sector-specific information technology companies that have operations in Hyderabad will be pursued by the State government to attract fresh IT investments, a senior official said on Thursday.

“We are looking at ten such consortiums,” IT Secretary Jayesh Ranjan said, citing BFSI, cybersecurity, SAS, animation and gaming services and AI/ML as some of the areas of interest. The idea is to create consortium based on verticals the companies are focused and through them attract investment from firms working in those areas.

Besides helping attract investment, the consortium would serve as a forum to discuss and address issues such as the need for specific courses in colleges to address the demand for talent in a particular area. It will be a unique approach and “we want to make a difference and be a role model for the country,” Mr.Ranjan told the Hyderabad Software Enterprises Association (HYSEA) annual innovation summit and awards function here on Thursday.

He also commended HYSEA’s role in preventing layoff during the first wave of pandemic. The job fair organised by the Association was an important initiative and beneficial for SMEs, he added.

The annual innovation summit and awards event was the 29th in the series and organised by HYSEA and Software Technology Parks of India (STPI). A conference on the theme ‘Digital Convergence: Touching Lives and Businesses’, product expo and annual industry awards formed part of the event.

Chairman of Indian Blockchain Standards Committee and founding member of Succeed Innovation Fund and former president of HYSEA J. A. Chowdary was presented the Lifetime Achievement Award. Awards were presented to IT/ITES companies and start-ups for achievements in exports, productivity and product development.

COO and ED of Tata Consultancy Services NG Subramaniam, in a talk on ‘The IT Industry – New Ways, New Answers’, said cloud adoption and cloud transformation, algorithm and intelligent optimisation and AI/ML would be significant growth areas in future. Hyderabad attracts the best minds and talent and it has always taken lead in product development as well as research and development, he said.

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