DE Shaw to invest $200 Millions in Hyderabad : KTR

New York, May 7: Minister for panchayat raj and IT KT RAMA RAO, informed media that international reputed and leading investment and technology development company, DE Shaw, headquartered in New York, has come forward for an investment of $200 million in Hyderabad and which has a presence in Hyderabad since the past 20 years, announced the setting up a new subsidiary company in Hyderabad, called Arcesium, in partnership with Blackstone Asset Management company.

DE Shaw will position 400 employees in Hyderabad by the end of the year, a number which will be doubled in the coming 3 years. Arcesium will focus on providing key software and services for post-trade activities of asset management companies. This announcement was made by the Managing Director of DE Shaw Company Mr Eric Wepsic in the presence of the Minister.

Earlier in the day, the delegation met with former US Ambassador to India, Mr Frank Wisner, who is considered to be a leading influential public intellectual in the country. Even after the completion of his tenure in India, Mr Wisner has maintained close links with Hyderabad in the capacity of Chairman of the Deccan Heritage Foundation, which supports conservation initiatives of important monuments in the region. Upon a request made by the Minister, Mr Wisner agreed to serve as the Goodwill Ambassador for the newly formed state of Telangana, offering his services to promote the state as a preferred investment destination among the international investors community.

Another significant meeting in attended by the minister KT Rama Rao was with Mr Ajay Banga, the President of MasterCard, considered to be the poster-boy of the Indian diaspora success story in the United States. MrBanga appreciated the new initiatives in the Information Technology area of the Telangana government. He put forward a proposal of putting together a group of leading private corporations to work with the government of Telangana in a PPP mode to work in the area of cyber security. Since cyber security is a major global concern, impacting not just the corporations and governments, but also millions of citizens receiving their services, the opportunity given by MrBanga exclusively to Telangana government is a significant recognition of the capabilities of the IT ecosystem available in Hyderabad today.

Another port of call for the delegation was KPMG headquarters in New York where the Chairman of the organization, Mr John Veihmeyer met the Minister. KPMG offers advisory services to investors all over the globe. The Minister explained the new industrial policy of Telangana state in detail, and MrVeihmeyer expressed his open admiration for the policy,

saying that he has not seen such unique and radical features in the best laid out policies elsewhere. MrVeihmeyer was briefed about the forthcoming global investment summit taking place in Hyderabad in February next year. KPMG has supported many governments across the world and also various Indian states in organizing such events. The Chairman offered KPMG to become the knowledge partner to the Telangana government for this summit.

Mr Parag Saxena, CEO of new silk route, an investment company that has made
successful investments in over 300 start-ups the world over, called on the Minister at an exclusive meeting organized in Rockefeller Centre in New York. MrSaxena is not only considered an astute investor in the West, but also widely recognized and honoured in India.

He is a member of Prime Minister's Task Force on FDI in India. The Minister presented the concept of T-Hub to MrSaxena, which is likely to position Hyderabad as the start-up capital in the country. MrSaxena found the T-Hub idea to be quite compelling, and agreed to serve as a mentor in T-Hub.

Throughout the day, many distinguished industry leaders interacted with the
delegation, including representatives from UST Global, Merrill Lynch, Citibank, and Water Health, to name a few.

At the end of the day, the Minister interacted with the Telugu diaspora located in New Jersey in Edison. The delegation now moves to Pittsburg for the next leg of its USA tour.