Rs 1,78,950-Cr Investments.. 49,550 Jobs

Building on core strengths of Hyderabad and Telangana in software and pharma, Telangana will now look to grow in a very big way in data centres, green energy, food processing, electric vehicles, semiconductors - A Revanth Reddy, Chief Minister, Telangana

Hyderabad: The Telangana government led by Chief Minister Revanth Reddy has set a new record by attracting all-time high investments at the Annual Meeting of the World Economic Forum (WEF) in Davos since the formation of new State in 2014. The young Chief Minster has clinched 12 deals and signed MoUs worth over Rs1,78,950 crore at Davos in the last three days, according to an official release on Thursday. The WEF meeting, which began on January 20, will conclude on Friday. These projects are expected to generate 49,550 jobs in Telangana. With this remarkable show, the CM has surpassed the previous year’s performance at Davos a day after announcing his target of Rs1 lakh crore.

Revanth Reddy welcomed the huge investment, observing that Telangana tripled the previous year’s Rs40,232 crore investments at Davos. The ‘Telangana Rising’ delegation had scored a great watermark agreement with this deal with Sun Petrochemicals.

“Building on core strengths of Hyderabad and Telangana in software and pharma, Telangana will now look to grow in a very big way in data centres, green energy, food processing, electric vehicles, semiconductors, among others. The world, post Covid and its deep consequences on supply chains, urgently needs a supplementing alternative to China (China Plus One), a position Telangana would aggressively and proactively like to take,” Revanth Reddy explained at several fora in WEF.

“The vision of making Telangana a $1 trillion SDGP economy would involve aggressive clustering - core urban area inside ORR for services, zone between ORR and the proposed Regional Ring Road as semi-urban zone for manufacturing, and outside the RRR as rural area for agri and food processing,” said the Chief Minister.

The tour of Revanth Reddy and his Telanagana Rising team to Davos concluded on Thursday and the team will return to Hyderabad on Friday.