California-based IT firm Forsys has opened a 21,000 sq.ft., 400-seater office, established at $2 million, in Hyderabad.
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The company, with a headcount of 200, intends to hire 450-500 more employees by 2026. It plans to invest up to $10 million in local operations over the next three years, founder J.P. Vejendla said on Friday in a release on the office opening ceremony.
Minister for Industries and IT D. Sridhar Babu, U.S. Consul-General Jennifer Larson, chairman of iLabs Group Srinivasa Raju, cardiothoracic surgeon and Star Hospitals MD Gopichand Mannam and others participated in the event.
Speaking on the occasion, the Minister said the Telangana government is committed to attracting investments to create employment opportunities.
Expressing a hope that Mr. Vejendla and his team would contribute to developing Hyderabad into another Silicon Valley with their experience and expertise, Mr. Babu underscored the need for private firms and government to come together and work on collaborative initiatives for social and economic development of the region.