TS govt to roll out red carpet for NRI investors

Supporting industry

• In 2004-14, Congress played pivotal role in developing global infrastructure in Hyderabad
• New government expected to propel Hyderabad and Telangana into unparalleled growth
• Sets vision to promote industries, innovation and IT sectors in tier-2 and tier-3 cities
• Also plans to develop new infrastructure and fortifying existing structures

Hyderabad: Telangana government will provide all possible support to the companies coming to invest in Telangana, says State Irrigation and Civil Supplies Minister Capt N Uttam Kumar Reddy, while delivering inaugural address at Hyderabad Business Seminar organised by the Confederation of Indian Industries (CII) and American Telugu Association (ATA) at T-Hub on Thursday.

With a theme – Promotion of trade between US and Telangana, ATA has hosted this seminar as an integral part of ATA Vedukalu. Speaking at the event, he reaffirmed the commitment to driving Telangana’s economic landscape to new heights. He asserted that the Congress government is poised to elevate the industries, information technology, and related sectors to unprecedented levels in the State.

Highlighting the legacy of the previous Congress government between 2004 and 2014, Uttam Kumar Reddy underscored the pivotal role it played in developing global infrastructure in Hyderabad, attracting investments from leading companies worldwide.

He said Rajiv Gandhi International Airport (RGIA), 160-km long Outer Ring Road (ORR), PV Narasimha Rao Expressway Corridor and other infrastructure projects executed by the Congress government laid the foundation for the placement of Hyderabad as a global city.

He emphasised the importance of building a robust foundation for talent acquisition by encouraging higher education. He expressed confidence that the new Congress government would propel Hyderabad and Telangana into unparalleled growth.

Addressing the audience, the Minister outlined the government’s vision to set ambitious targets for the advancement of industries, innovation, and information technology. He announced plans to promote these sectors in tier-2 and tier-3 cities, alongside developing new infrastructure and fortifying existing structures. He emphasized that the government’s focus is not only on Hyderabad but also on ensuring equitable development across all regions of Telangana.

Characterising Hyderabad as an ideal destination for global investors, Minister Uttam Kumar Reddy cited its favourable climate, conducive atmosphere, and rich talent pool. He affirmed that Hyderabad remains the first choice for global investors, highlighting the city’s potential to further boost investments and stimulate economic growth.

Addressing concerns about saturation, the minister reassured that despite the presence of global players, Hyderabad and other parts of Telangana continue to offer substantial opportunities for new investors. He pledged to encourage existing companies to expand into tier-2 and tier-3 cities while extending invitations to global corporations to explore the vast potential in Telangana.

Expressing confidence in the Congress government’s initiatives, Uttam Kumar Reddy asserted that they would attract investments, enhance infrastructure, and generate employment opportunities on a massive scale.

ATA President Madhu Bommineni said that the business seminar was organised as a part of ATA-Vedukalu, a prelude to the grand event – the 18th ATA Convention and Youth Conference. Minister Uttam Kumar Reddy has been invited as a guest for this Convention to be held in Atlanta on June 7-9, 2024. She said that this seminar will be useful for improved relations between Telangana and America.

Shekhar Reddy, President of CII, said that it was a pleasure to do this seminar jointly with Ata. He anticipated that this collaboration with ATA will further increase the NRI investments in the State.