Industries Minister KT Rama Rao’s two-week trip to the US and UK showcased ‘The Telangana Story.’ KTR attended around 80 business and five sector-specific roundtable meetings and spoke at two conferences.
This resulted in investment announcements across various sectors resulting in the potential creation of around 42,000 jobs in Telangana.
“The most encouraging aspect of the trip is the creation of around 42,000 direct jobs. Each direct job generates at least 3 to 4 indirect jobs. Tier 2 towns like Nalgonda, Karimnagar and others also are attracting investors,” KTR said in a tweet.
During the trip, KTR attended meetings in London, New York, Washington DC, Houston, Henderson and Boston bagging investments.
These investments span sectors like BFSI (Banking, Financial Services and Insurance), Emerging Technologies, IT and ITES, Media and Entertainment, Aerospace and Defence, Life Sciences, Medical Devices, Digital Solutions, Innovation and Data Centre, Automotive and EV etc, and reaffirmed Telangana’s position as a global investment hotspot.
The companies which have announced investment and expansion plans are Warner Bros. Disney, the global media power house; Medtronic, a global leader in healthcare technology; State Street, the world’s largest asset management company; Bain Capital-owned VXI Global Solutions; and the London Stock Exchange Group.
Other big companies are DAZN, a global leader in sports live streaming, Technip FMC, a French American Oil and Gas giant; AlliantGroup, a top global consulting and financial firm; StemCures, a specialist in stem cell therapy; Mondee, the world’s largest B2B2C Travel Marketplace and Technology Innovation Company, ZapCom Group, a product engineering and solutions company.
Apart from attending business meetings, KTR also attended two major conferences.
In London, he attended the ‘Ideas for India’ conference on May 12 and highlighted the ‘triumph’ of the Telangana Model to the global audience and stressed the need for India to adopt it.
He delivered the keynote address at the World Environmental and Water Resources Congress held by the American Society of Civil Engineers at Henderson in Nevada on May 22 and showcased the success of Telangana’s flagship water projects like the Kaleshwaram Project and Mission Bhagiratha.
The Kaleshwaram Project received a global honour as the ‘Enduring Symbol of Engineering Progress and Partnership’ from the civil engineers body.
KTR had a meeting with NRI CEOs of 30 companies and explained the measures taken by the government to encourage IT companies to start operations in Tier-II cities.
The major breakthrough for the expansion of IT came from Sonata Software, a modernization engineering company, which decided to expand to Nalgonda by adding 200 jobs in the soon-to-be-opened Nalgonda IT Tower and 3M-ECLAT’s announcement to start an operations centre in Karimnagar. Rite Software has evinced interest to expand its operations to Warangal.
