BFSI sector growing at rapid pace in Hyderabad, says KT Rama Rao

Telangana Commerce and Industry Minister KT Rama Rao on Monday said the Banking, Financial Services and Insurance (BFSI) sector in Hyderabad has been growing at a rapid pace.

Rao inaugurated the office of a global firm at Raidurg here in Hyderabad on Monday and welcomed the management of the firm for opening its office here.

Addressing the media after the inauguration, Rao said, "Over the last few years the Banking, Financial Services and Insurance sector in Hyderabad has been growing at a very rapid pace. He added that over the past few years there have been significant investments from several companies in this sector."

He mentioned that due to this rapid growth in the BFSI sector and the inflow of investments, over 1,80,000 people are currently working in the sector.

"These numbers are alone enough to comment about the ecosystem and strength that Hyderabad has to offer for the companies," added Rao.

The minister emphasised that Hyderabad has not just become the grounds for bigger companies but also for startups.

( With inputs from ANI )

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