According to reports, Medtronic, a global medical technology firm is investing $ 60 million over three to five years in its new Global IT (GIT) Centre at Medtronic Engineering and Innovation Centre (MEIC).

The MEIC was inaugurated in the presence of Telangana Minister for IT, Industries and Commerce D Sridhar Babu and US Consul General Jennifer Larson, along with senior leaders from Medtronic, including Rashmi Kumar, SVP and CIO Global.

The Global IT Centre is Medtronic's first large-scale IT center outside the US, the company said, adding that it will be investing USD 60 million to support the creation of 300 new job opportunities over the next three to five years.

GIT will focus on cutting-edge technologies such as cloud engineering, data platforms, digital health applications, hyper-automation, artificial intelligence, and machine learning.

“I am delighted that Medtronic is growing in Hyderabad. I inaugurated MEIC’s expanded R&D facility in February this year, and now, in just five months, we are launching Medtronic’s new Global IT Centre. Reputed firms like Medtronic doubling down on their investments in Telangana highlight the vibrant innovation ecosystem here. This is a testament to the government’s progressive policies. We remain committed to the growth of the medical technologies sector,” says Sridhar Babu.

US Consul General Jennifer Larson praised Medtronic's investment as a significant move by an American firm in Telangana.

“We love to see American companies doing so well in Hyderabad. This also highlights the collaboration between India and the US. Hyderabad has a dynamic ecosystem and talent pool. It is the perfect setting for research and development efforts,” says Jennifer.