- 1 Minute Read
- 16th November 2012
Hyderabad’s IT sector office space demand to touch 20m sq ft
Gloomy global economic conditions have not dampened the growth of the information technology sector in Hyderabad, India.
Projections predict a growth spout of 15% in 2012, with 60m sq ft of occupied built-up office space expected to rise this year, against the 50m sq ft in 2011. 70% of the growth was attributed to expansion of existing buildings.
The area is home to 1,206 IT companies including global brands and represents 11% of employment levels in the software technology parks of India.
eIndia, the country’s largest ICT annual event brought together the whole of India’s IT sector and focused on the themes of e-governance, education and e-health this month.
At the summit, Ponnala Lakshmaia - minister for information technology and communications in Hyderabad - said that the State had approved an IT Investment Region in the city.
“This is expected to create employment for 15m people over the next 25 years,” he said.
“The office space by IT firms in Hyderabad is expected to touch 20m sq ft this year, representing 12% of the country’s office space in the IT sector.”
India’s National Optic Fibre Network (NOFN) proposal is set to bring widespread internet access across currently unconnected regions of the country by 2013.
The move has been driven by the increase in demand for a developed IT and communications infrastructure in the mould of the US and parts of Europe, as India seeks to consolidate its status as one of the world’s leading nations.