Amazon to set up world’s 2nd largest facility in Hyderabad

Amazon, one of the world’s largest e-trade, which also supports cloud services and technology devices like the Kindle Reader and Kindle Fire Tab series, is setting up an office in India, its biggest office outside of the US. The firm will be setting up a 29 lakh square feet office in Gachibowli, Hyderabad. The IT center will be set up on 10 acres of land, which could draw in a huge amount of proposed speculations of US$ 2 billion into the Indian market. The Seattle based company, which has been in communication with the State Government of Telangana in the recent years for clearances, has been provided all necessary authorizations to set up the office. Top authorities of the company will be in Hyderabad some time in a week or two for the function of ground breaking. The investment likewise comes to Hyderabad on the heels of Apple picking Hyderabad to set up its biggest technology and innovation development center outside the US; as well as Google reporting to set up a large campus in the city. A senior Telangana Government official said the state government has designated a 10 acre of land area to Amazon where it proposes to manufacture 2.9 million square feet development centre to house a 13,500 strong staff. The present headcount at Amazon development base at Hyderabad is over 1,000, across the country. The office, which will be setup completely by 2018, is believed to house 12,000 - 14,000 skilled workers. Showing a distinct investment interest in the Indian market, Amazon at present has a 30,000 square feet space of office space leased at ONE BKC Mumbai and a 1.2-million square feet office space rented out in Bengaluru. With so much investment in the city, Hyderabad is expecting massive growth rate in the IT industry. In essence, there is an expectation of growth in cross trade, technology and ideation exchange along with cultural immigration with skill development. For more news updates related to IT, investment, employment and immigration, subscribe to our newsletter at y-axis.com. Original Source:Economic Times