General Hyderabad

Push for Balanced Growth: North Hyderabad Eyes FinTech City

Revanth Reddy

Hyderabad, Telangana

Members of the North Hyderabad Development Forum and Medchal Metro Sadhana Samithi have taken a proactive step towards addressing the neglect faced by the northern part of the city. On Tuesday, they submitted a representation to Telangana Chief Minister Revanth Reddy, urging him to allocate land for the development of a FinTech City in North Hyderabad area.

Highlighting the stark contrast in development between the thriving western part of the city and the underserved north, the representatives emphasized the need for equal opportunities and infrastructure. While areas like Hitech City, Gachibowli, and Madhapur flourish, the northern part remains lagging behind.

Inspired by successful models like Silicon Valley and Gujarat’s GIFT City, the proposal suggests transforming the northern part of Hyderabad into a Financial Technology City (FinTech City). This initiative aims to foster breakthroughs, cutting-edge technology, and a bustling business ecosystem.

“We have submitted a presentation to the State government, urging them to allocate land and invest in critical basic infrastructure for the FinTech City initiative,” stated a member of the North Hyderabad Development Forum. “This visionary step will attract investments, drive economic growth, and position North Hyderabad as a global innovation and financial powerhouse.”

Local Initiatives Aim to Bridge Development Gap

Furthermore, with a wealth of talent from prestigious colleges and universities in various fields, including engineering, management, and pharmaceuticals, North Hyderabad is primed to become a hub of innovation and entrepreneurship. Establishing the FinTech City will also ignite the vibrant startup culture among the youth, providing ample employment opportunities.

The representatives also stressed the need to alleviate the overcrowding in Hitech City by spreading development to other areas like the underdeveloped North of Hyderabad. They advocated for the extension of the metro rail network till Medchal to improve connectivity and accessibility.

The call for the development of a FinTech City in North Hyderabad reflects the community’s aspirations for balanced growth and prosperity, ensuring that all residents benefit from the city’s progress.