Saturday, June 22, 2024

Telangana strikes gold in Davos

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Nets Rs 21,000 crore investments


The Telangana government has baged five times more investments from Davos compared to last year.

Telangana attracted investments worth Rs 21,000 crore in 2023 compared to Rs 4,200 crore in 2022. The Telangana delegation led by Industries Minister KT Rama Rao concluded their trip to Davos for the World Economic Forum (WEF) annual meeting.

During the fifth visit of KTR to Davos this year the minister’s efforts to bag investments yielded fruitful results.

Some of the major deals are the following: Microsoft announced that it would set up three more data centres in Hyderabad with an investment of Rs 16,000 crore.

The Bharti Airtel Group will set up a large Hyperscale Data Centre in Hyderabad with an outlay of Rs 2,000 crore. Eurofins, a global pharma leader has announced that it would establish a state-of-the-art laboratory in Genome Valley costing Rs 1,000 crore.

Global companies like PepsiCo, P&G, Allox, Appollo Tyres Ltd, WebPT, and Inspire came forward with investments worth Rs 2,000 crore.

Presenting the growth story of Telangana, KTR attended meetings with leaders of top global organisations and spoke at panel discussions and shared his thoughts on a wide array of subjects during the four-day trip.

In addition to this, the minister also interacted with the Indian diaspora in Zurich and highlighted the progress of Telangana to NRIs in Switzerland.

At a time when the global economy is on the brink of recession, Telangana has managed to bag big-ticket investments. The Telangana delegation was successful in showcasing the state as a global investment destination and as a gateway to India.

The Telangana pavilion grabbed the attention of many top companies with representatives of several global organisations visiting the stall.

The Telangana pavilion presented information on its geography, the investments it had attracted in the last eight years and the initiatives of the IT and Industry departments like T-Hub and T-Works.

Videos of government programmes, policies and projects like the Kaleshwaram Project shown at the pavilion were a special attraction. The pavilion which was located building No: 62 on Promenade Road, the main thoroughfare of Davos, was abuzz with visitors.

Sharing his experience KTR said that WEF is the right platform to introduce Telangana, a state with exceptional industrial policies and infrastructure and added that Telangana is strengthening its ties with companies on the WEF platform.

“All meetings at the WEF were highly productive and we were able to bag Rs 21,000 crore,” said KTR.

KTR said that the government’s objective is to bag investments and thereby create employment.

“I believe that all the new investments and meetings regarding prospective investments will yield favourable outcomes,” added KTR.

The big draw of this Davos trip is the WEF coming forward to establish its first Indian centre in Hyderabad. This centre will focus on life sciences and healthcare. This announcement further consolidates the city’s position as the hub for life sciences and pharmaceuticals.

KTR thanked officials from the IT and Industries department and other departments who were involved in making the trip successful. He conveyed special thanks to the Telangana delegation which accompanied him. KTR also asked officials to march forward with the same spirit in future.

The delegation comprised Principal Secretary, IT and Industries Departments Jayesh Ranjan, Special Secretary, Investment Promotion & NRI Affairs, E. Vishnu Vardhan Reddy, Director, Life Sciences Shakti Nagappan, Director, Automotive, Gopal Krishnan, Chief Relations Officer, Amarnath Reddy Atmakuri, and the Director of Digital Media, Dileep Konatham.

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