Hyderabad's IT exports exceeded $1 billion in 2004.[1] There have been extensive investments in digital infrastructure.
The central region of this area is called HITEC City, in the Madhapur suburb. Development of HITEC City prompted several IT and ITES companies to set up operations in the city, and has led civic boosters to call their city "Cyberabad".
Hyderabad today has several software technology campuses containing companies that include:
In 2007,"Fab City", a silicon chip manufacturing facility, was finalised to be set up in the city with an investment of 13,300 crore ($3 billion) by the AMD-SemIndia consortium.[2]
India's semiconductor ecosystem is poised to shape up with the government receiving seven confirmed investment proposals worth $7 billion for Fab City in Hyderabad. In addition, five more proposals amounting to $800 million have got an in-principle approval while three others are under active consideration.
However, the government had to cancel the allotment of land to 19 companies, including Moser Baer (100 acres) and MIC Electronics(15 acres) involving a total extent of 430 acres in the past as they failed to execute the projects as promised.[3]