WTCA inks MoU with Telangana Govt to set up WTC in AI city in Hyderabad

Hyderabad: Telangana reached a significant milestone by signing a Memorandum of Understanding (MoU) with the World Trade Centres Association (WTCA) to establish a World Trade Centre within the prestigious AI City in Hyderabad.

The agreement was executed in the presence of Telangana IT Minister Duddila Sridhar Babu during the ongoing Global AI Summit 2024 here on Friday.

The WTC AI City will feature 1 million square feet of built-up space, housing companies at the forefront of AI and emerging technologies.

This is poised to be one of the largest capacity-building initiatives in the field of the global AI domain.

The campus will offer world-class office spaces, trade services, training facilities, retail and entertainment zones, co-living spaces, a luxury hotel, and primary healthcare facilities—all in line with the vision of Telangana’s leadership to develop an integrated smart city that embodies a “walk-to-work” concept.

Speaking on the occasion, Sridhar Babu said, “Having WTC in the upcoming AI City is pivotal to our goal of growing IT exports from $32 billion to $200 billion. This partnership is a testament to Telangana’s commitment to driving economic growth through global collaboration.”

At the establishment of WTC AI City, the IT Minister said, “This collaboration will accelerate our IT export goals and position Telangana firmly among the world’s leading AI innovators.”

Robin van Puyenbroeck, Executive Director of WTCA, New York, expressed admiration for the speed at which the WTC license for Telangana was granted.

“Typically, securing a license for a new World Trade Centre is a lengthy process. However, given the bold vision of Telangana’s leadership, we expedited the process, approving the license within a record time of one week,” he said.

As global companies increasingly allocate more of their IT budgets to digital technologies, Telangana is strategically positioned to lead AI-driven growth.