TG govt zooms fast in attracting investments

Hyderabad: The investor-friendly Telangana has achieved a big milestone. Chief Minister A Revanth Reddy’s government succeeded in attracting a whopping Rs 2.44-lakh crore investments, including Rs 12,000 crore from the just concluded CM’s Japan visit in the last 17 months. Perhaps, it is for the first time that the Telangana government attracted such largescale investments from global companies during a CM’s foreign visit. The investments will create more than 80,000 jobs in the state, officials said, adding that the Japan companies alone will provide 30,500 jobs.

During the seven-day Japan visit, the Telangana Rising delegation, led by the Chief Minister, entered an important agreement with the Marubeni Company which came forward to set up next generation industrial park in Hyderabad Future City with an initial investment of Rs 1,000 crore. The park is expected to generate 30,000 jobs.

Also, the NTT Data, NEISA announced to set up an Artificial Intelligence Data Center Cluster with Rs 10,500 crore in Hyderabad and Toshiba Transmission Distribution Systems India has signed an agreement to establish electrical equipment and supplies manufacturing factory in Rudraram by investing Rs 562 crore. TERN and Raj Group joined as partners with TOMCOM to provide 500 job placements in Japan.

Ever since Revanth Reddy assumed charge as the CM, a special team in the Chief Minister's Office was assigned the task of inviting global investors to Telangana and promoting the state as the destination for the manufacturing industry as well as the services sectors.

First ever in the history of Telangana, the government inked MoUs worth Rs 1.78 lakh crore at the World Economic Forum Summit held in Davos in January this year.

All the global companies expressed their interest to provide nearly 50,000 jobs through such big investments. During the same month, the Telangana delegation visited America, South Korea, and Singapore where investment agreements worth Rs 14,900 crore were inked. Soon after coming to power in December 2023, the CM embarked on his first foreign visit to Davos in January 2024 and projected the state as ‘Telangana Rising’ during the meetings with the delegates of the global companies. As a result, the government attracted Rs 40,000 crore in the CM’s first meeting with investors in Davos.

Officials said that all the works will be grounded according to the agreements entered by the state government with the companies.