Telangana Gets Rs 7,592-Cr Investments
Industries Minister Sridhar Babu says these investments will generate 5.200 new jobs
(C) D Sridhar Babu, Telangana IT Minister and T Ravikiran, Commissioner, Electronic Service Delivery, Mee Seva, launching Mee Seva mobile app, in Hyderabad on Sunday
Hyderabad: Telangana Information Technology and Industries Minister D Sridhar Babu, during the first-year anniversary celebration of the Congress government on Sunday, announced several initiatives across security, agriculture and public welfare. The State government also announced attracting investments of Rs 7,592 crore, which will provide additional 5,200 jobs.
Addressing the Praja Palana Vijayotsavalu programme in Hyderabad, Sridhar Babu said, “Through the launch of various citizen-centric initiatives, I want to stress on that we will be a citizen-friendly government in times to come. Also, we will like to see industries and the State to grow here together. We would like to tell industries that are willing to partner with us to invest in Telangana and be a part of our growth story.” The Minister also announced 12 industrial parks that will be developed over the next one year, on a total of 2,000 acres across the State. Jayesh Ranjan, Special Chief Secretary, IT and I&C, Telangana, highlighted the initiatives undertaken by the government.
He mentioned about the Global Artificial Intelligence Summit 2024, which witnessed 21 agreements with private entities, and the new MSME policy introduced in September 2024, which was primarily launched to support micro, and small enterprises, compared to the previous policy which supported large companies.
The Special Chief Secretary also informed that in the next four months, the government will be introducing policies for exports, defense and aerospace, life sciences and AVGC (animation, visual effects, gaming and comics) industry. With regard to new investments, Telangana State Industrial Infrastructure Corporation (TSIIC) signed four Memoranda of Understanding (MoUs) with three companies for total investments of Rs 7,592 crore.
Making the announcement, Dr E Vishnu Vardhan Reddy, Vice Chairman of TSIIC said that the first agreement has been entered with Lenskart, which will be setting up its largest eyewear manufacturing and R&D centre in the State with an investment of Rs 1,500 crore to provide 1,600 direct and 500 indirect jobs.
City-based Premier Energies, a solar cell and solar module manufacturing company, also signed an MoU under which it will be setting up two manufacturing facilities with an investment of Rs 3,342 crore for 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing unit, and Rs 1,950 crore, for solar ingots and aluminium plant. These units will provide 2,500 jobs.
The fourth MoU was entered with Azad Engineering, a turbine and aerospace parts manufacturer for setting up a super alloy facility with a total Rs 800 crore investment which will provide 600 direct jobs.
After showcasing the investments attracted by the government, TASK (Telangana Academy for Skill and Knowledge) announced entering eight MoUs with skilling institutes, which include SAP, Tata Strive, My Anatomy, Schwing Stetter, Creative Careers, Swecha Telangana, 100 pins and Blackbuck Engineers.
