Hyderabad to get a World Trade Centre soon

After Mumbai and Bengaluru, Hyderabad will be the third city in India to get a World Trade Centre. A report in Deccan Chronicle states that this will become another hub for international businesses in the city. There are World Trade Centres (WTC) in a 100 countries at this point.

According to the report, the Telangana government is planning to set up the WTC in a public-private-partnership mode on outskirts of the city. The state government will get a licence from the World Trade Centres Association (WTCA) for the same. The headquarters of the WTCA are in New York. It was established in 1970 as a non-profit organisation to promote international trade.

The Deccan Chronicle quotes industries minister Jupally Krishna Rao as saying that the WTC was part of the TRS government’s plan to transform Hyderabad into a global city. The government is planning to tie-up with Bengaluru-based real estate company Brigade Group. The Brigade Group has already secured a licence from WTCA for setting up a WTC in Hyderabad, along with Kochi, Thiruvananthapuram and Chennai.

Rao told the daily that the WTC project will be presented in the March budget. Around Rs 300 crore will be required for its construction and the government will work out modalities for executing the project in PPP mode, according to him. Each tower of the WTC in Hyderabad is expected to have 30 to 35 floors and state-of-the-art infrastructure.The government now has to allot the land for the WTC.