Telangana Chief Minister's Visit to the United States Fetches an Investment of Rs 31,500 Crore

The Rs 31,500 crore investment agreement was signed during Telangana Chief Minister A. Revanth Reddy's visit to the United States that ended on Sunday. The state government described the Chief Minister's visit as a highly successful business trip. According to the Chief Minister's Office (CMO), 19 investment deals/MOUs worth Rs. 31,500 crores were signed during the visit. This is expected to result in 30,750 new jobs for the state.

The delegation, which included IT and Industries Minister D. Sridhar Babu and other officials, held over 50 business meetings and three roundtable conferences in New York, Washington, Dallas, and California. The CMO claimed that the delegation received widespread reiteration and support for several major initiatives, including the establishment of a Future City, AI City, the revitalisation of the Musi River, and the zealous pitch to position Telangana as the best fit for America, Inc.'s quest for a China plus one alternate.

The delegation held roundtable conferences on business, AI, and semiconductors from coast to coast, as well as meetings with CEOs, founders, business alliances, and groups, inviting them to visit Hyderabad and consider Telangana for their future plans.

The delegation pitched Hyderabad and Telangana to business leaders and investors from various sectors, resulting in new and expanded deals in IT, GCC, Lifesciences, Pharma, Data Centres, AI, Cloud and Data Centres, Electric Vehicles and Batteries, Green Energy, FMCG, and Manufacturing.

The Charles Schwab GCC, one of America's leading financial sector corporations, made the most significant announcement in the IT sector. The Trinet transaction paves the way for substantial future investments in the HR solutions sector. The significant expansion announcements made by global IT majors Cognisant and Arcesium strengthened Hyderabad's position in the IT/GCC space.

Another key takeaway from the visit was Amazon's decision to significantly expand its data centre presence in Hyderabad and use the city as a hub to drive its India presence. Aurum Equity, too, made a significant announcement about establishing an AI-powered green data centre. Monarch Tractors provides a significant boost to Telangana's ambition to grow in high-end manufacturing. The delegation also met with Apple, Google, and Stanford University.