Hyderabad continues its supremacy in attracting global investments especially from the US. Now, yet another Fortune 500 company signed a deal with Telangana to set up its multi-crore centre in the State. The agreement was reached between IT and Industries Minister KTR and Arthur Reel, technical head of MassMutual, which is an insurance and financial services company with 170 years of experience.
KTR said that it was yet another glowing feather in the cap of Telangana with MassMutual coming to Hyderabad. The company stands in 89th position in the list of Fortune 500 companies in the world. Mass Mutual is now going to set up its Global Capability Centre in the Telangana Capital. It is going to invest Rs. 1,000 Cr in its new centre to be set up in 1.5 lakh sft in the financial district located at Nanakramguda.
KT Rama Rao has said that the company will be initially creating 300 jobs. More than that, the prestigiou Mass Mutual is setting up its first centre outside of the US in Hyderabad city here. This is indeed a big compliment for Telangana State. The IT Minister expressed happiness at Hyderabad going to the next level in its capability to attract international investments by leaps and bounds. All the necessary infrastructure is being created in the cosmopolitan city to meet the emerging needs of its expansion and to welcome future investments. Growth slowed down in Hyderabad between 2015 and 2019 but the city started seeing exponential progress since 2019.