Telangana Govt Approves Rs 7,108 Crore Investment by 321 Companies

Hyderabad: The state government has granted approval to 321 companies, clearing investments worth Rs 7,108 crore over the last 10 months since the Congress assumed office in December 2023. These investments are expected to generate 25,277 job opportunities across the state.

E. Vishnu Vardhan Reddy, the chairman of the Telangana Industrial and Infrastructure Corporation (TGIIC), the nodal agency that has been instrumental in fast-tracking the establishment and approval process for industries, confirmed the information on the investment.

Speaking to Deccan Chronicle, Vishnu Vardhan Reddy said TGIIC and the State Level Land Allotment Committee have meticulously reviewed land allotment applications from potential investors. In September alone, land allotment orders were issued to 70 companies, which will result in an additional investment of Rs 1,721 crore and the creation of 7,543 jobs.

For 321 companies, the government has allocated 566 acres of land.

Notable companies in the list include Mayora India Pvt Ltd, an Indonesian firm investing Rs 158.80 crore to set up a food processing manufacturing industry, which will employ 866 people. Lohum Materials Pvt Ltd, focusing on lithium-ion battery manufacturing, is investing Rs 502 crore and is set to provide 414 jobs. Amrutanjan Health Care Limited, with an investment of Rs 125.04 crore, will generate 142 jobs. Jayadurga Home Decors has committed Rs 114.12 crore, creating 950 jobs, and Drogo Drones Pvt Ltd will invest Rs 34.63 crore, adding 300 jobs to the state's economy.

Over the past 10 months, these 321 companies have committed significant investments under the leadership of Chief Minister A Revanth Reddy, signalling a promising period of economic growth for Telangana.

Vishnu Vardhan Reddy credited the efforts of Revanth Reddy and IT and industries minister Duddilla Sridhar Babu in attracting big investments in the state. Their visits to Davos, South Korea, and the United States have drawn the attention of major global companies, many of which are now setting up operations in Telangana.

TGIIC has been key to facilitating these investments, providing land and ensuring timely execution of projects. It continues to engage with companies attracted by the state's favourable industrial climate, offering required land and support for their operations, he added.

In an effort to ensure efficient use of resources, Vishnu Vardhan Reddy said that the government has implemented strict monitoring measures. A special cell has been established to resume land if a company fails to commence operations within a stipulated time frame after receiving land allotment.

The goal, he stated, is to ensure that every acre allocated for industrial purposes contributes to the state’s growth and job creation.