American multinational corporation Qualcomm will be investing Rs 3,904.55 crore in developing its Hyderabad operations, the seconds largest campus after the US, the work is in progress and expected to complete in October 2022. The investment of Rs 3904 crore would be made over a period of five years.
Qualcomm announced the expansion plan during the visit of IT minister KT Rama Rao to the United States. Approximately 8700 people are to be employed in this facility. The software major will be entering the league of several businesses with their biggest campuses outside of the US in Hyderabad. Qualcomm informed the Minister about the work progress on the Hyderabad facility, which is being set up in an area of 15.72 lakh sqft space in Rayadurgam. It will be its second-biggest facility after the US and is expected to be completed by October this year. The company leadership team, including their CFO, Akash Palkhiwala, VPs James Jean, Laxmi Rayapudi, Parag Agashe, and Senior Director Dev Singh, met Rama Rao at their headquarters in San Diego.
The company also plans to expand its hand in agriculture, online education, connected devices, and smart cities. Qualcomm is making semiconductors, software, and services related to wireless technology. The company holds patents critical to the 5G, 4G, CDMA, and other mobile communications standards.
KT Rama Rao also discussed other possible partnership opportunities. American electric vehicle(EV) firm Fisker Inc also plans to build its IT development center in Hyderabad with a capacity of approx 300 IT professionals.
Rama Rao said Telangana would be the destination for the electric vehicle ecosystem, and the State is working with possible efforts in this direction.
This Qualcomm investment will attract more new organizations to expand their operations in India.