Hyderabad Witnesses A New Pool Of Investments For The Entertainment And Healthcare Sector.
New and Repeat investments are the best proof of Hyderabad's pro-business policies.
Warner Bros. Discovery, the great global media and entertainment conglomerate, has chosen Hyderabad to house its international development centre (IDC), which will employ 1,200 people. Renowned for its vast portfolio of content, brands, and franchises spanning television, cinema, streaming, and gaming, it will partner with the IDC to penetrate the bustling media and entertainment industry centre of Hyderabad, Industries and IT Minister K.T. Rama Rao’s office announced.
The statement came after the Minister met with Alexandra Carter, the senior vice president of finance at Warner Bros. Discovery while leading an official delegation to the United States. They addressed the shared goal of driving growth and innovation in the media and entertainment business, as well as the opportunities for the State government and the firm to collaborate to develop the media and entertainment industry in Hyderabad.
The IDC in Hyderabad will be a crucial base for Warner Bros. Discovery’s Indian activities. While 1,200 people will be hired in the first year of operation, the number will climb as the company expands. The move demonstrates the company’s commitment to investing in local talent. The discussions at the meeting highlighted both sides’ shared ambition for promoting development and innovation in the media and entertainment industries, further cementing their collaboration for a bright future in Hyderabad.
Mr Rao’s office stated that by establishing an office in Hyderabad, Warner Bros. Discovery, whose portfolio includes globally popular names such as HBO, CNN, TLC, Discovery, and Cartoon Network, hopes to tap the immense potential of the Indian markets and leverage the city’s dynamic media and entertainment ecosystem.
Non-resident Indians had earlier welcomed the Minister upon his arrival in New York. Mr Rao is in the United States on an invitation to deliver the inaugural keynote at the American Society of Civil Engineers (ASCE) World Environmental & Water Resources Congress in Henderson, Nevada.
In another event for Hyderabad, Industries and IT Minister K.T. Rama Rao announced opportunities in the healthcare sector as well.
Medtronic plc, a global pioneer in healthcare technology, has announced a $350 million investment in the Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad. Medtronic’s total investment in Hyderabad now stands at almost $500 million, according to state industries minister K. T. Rama Rao. When the minister visited with the company’s executive team in New York, a new investment was announced.
Repeat investments, according to the minister, are the best proof of Telangana’s pro-business policies. According to him, this improves Telangana’s position as a worldwide powerhouse for medical device research and innovation. Medtronic Engineering & Innovation Centre is Medtronic’s largest R&D facility outside the United States. Medtronic’s investment is part of the company’s overarching worldwide R&D-led innovation and growth strategy.
Medtronic stated in a joint statement that it supports the Telangana government’s efforts to establish Hyderabad as a worldwide centre for healthcare technology research and innovation. K.T. Rama Rao met with Medtronic executives Mike Marinaro, the Executive Vice President and President of Surgical, Mani Prakash, Vice President of Enterprise R&D, and Divya Prakash Joshi, Vice President and MEIC Site Leader.
This investment builds on Medtronic Engineering & Innovation Centre’s original $160 million investment announced in 2020, and it strengthens the company’s reach in India. MEIC now employs over 800 individuals, the majority of whom are engineers, and is anticipated to grow to more than 1,500 over the next five years.
Medtronic Engineering & Innovation Centre intends to harness India’s large pool of diversified and competent personnel in engineering, mobile applications, application and desktop software, cloud/web apps, data engineering, embedded software, product security, and cyber-product security with this expansion. The funding will go towards crucial areas of healthcare technology such as robots, imaging and navigation, surgical technologies, and implantable technologies.
Proofread & Published By Naveenika Chauhan
