The construction of the tower will be completed in a year and would provide plug and play facilities to the IT companies.
The first phase of the project will provide direct employment opportunities for the youngsters.
Apart from this, six memorandums of understandings (MoU) were also signed today.
After laying the foundation stone, Rao announced to set up a regional center of TASK for job seekers and T-Hub for job creators in Karimnagar.
"Our youngsters are second to none and I hope and believe that the next Googles, Facebooks, and WhatsApp will come out of India", Rao said.
"Telangana's GSDP growth rate is highest in the country. This was possible only due to the visionary leadership of Chief Minister K. Chandrashekar Rao", he added.
The state government is also promoting Warangal, Khammam, Karimnagar, Mahabubnagar, and Nizamabad as IT hubs.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)