Madhya Pradesh isn’t a name that immediately springs to mind when you think of locations for tech startups. India’s tech scene usually has engineering offices in the startup hubs of Bangalore or Delhi, and prefers keeping its backend offices in close vicinity. But Paytm, India’s payments and e-commerce giant, is venturing into uncharted territory by setting up a center in Jabalpur.
Paytm CEO Vijay Shekhar Sharma signed a Memorandum of Understanding with the Madhya Pradesh government to this effect. Paytm’s center will manage backend operations and will be built at the cost of Rs. 20 crore. The centre is expected to be operational in a year.
“Madhya Pradesh has investor friendly policies. Paytm’s decision of to start the backend center in MP will give big boost to investment in IT sector”, said Chief Minister Shivraj Singh Chouhan.
Paytm already has offices in Delhi and Bangalore, and also runs a research lab in Toronto, Canada.