Telangana inks MoUs worth ₹1.79 lakh crore investments

A delegation from Telangana, led by chief minister A Revanth Reddy and comprising state industries minister D Sridhar Babu and other officials, concluded its Davos tour on Thursday

The Telangana government on Thursday claimed to have signed agreements with various industrial groups during the four-day World Economic Forum summit at Davos in Switzerland for establishing various projects with a total investment of ₹178,950 crore, which will create 49,550 jobs.

Telangana CM Revanth Reddy, state industry minister Sridhar Babu and Amazon Web Services vice president of Global Public Policy Michael Punke during the signing of an agreement, in Davos on Thursday. (ANI)

A delegation from Telangana, led by chief minister A Revanth Reddy and comprising state industries minister D Sridhar Babu and senior officials, under the banner of Telangana Rising, concluded its Davos tour on Thursday.

An official statement from the chief minister’s office said that the biggest individual investments break-up broadly included ₹60,000 crore from Amazon, ₹45,000 crore from Sun Petrochemicals and ₹15,000 crore each from Tillman Global Holdings and Megha Engineering.

Besides, global software giants such as HCL, Infosys and Wipro announced expansion of their facilities in Hyderabad promising thousands of new high-end jobs. “Solar cells, rocket manufacturing, aircraft interiors design and UAV manufacturing were major cutting-edge area successes and forays. Defence investments by Jindal was another big success,” the official statement said.

A big success of the visit was the chief minister’s efforts to pitch the salient features of his vision of Telangana Rising-2050 to global investors, entrepreneurs, thinkers and policy makers, which found resounding endorsement and acceptance, the statement added.

Meanwhile, the Andhra Pradesh government claimed that the visit of the state delegation, led by chief minister N Chandrababu Naidu, to Davos was highly impactful, as it focussed on promoting the state’s brand image, attracting global investments, and fostering strategic partnerships with multinational corporations and countries.

Naidu held discussions with representatives of global industries such as Maersk, Cisco, LG Chem, PepsiCo, Google Cloud, Petronas, Unilever, ArcelorMittal and Carlsberg.

The chief minister also met with Microsoft co-founder Bill Gates to explore transformative initiatives in health, education, and innovation. The discussions included establishing a Centre of Excellence for Health Innovation and Diagnostics in Andhra Pradesh.