HC Robotics makes good on its Davos promise, to invest Rs 500 crore in Telangana
Hyderabad: IT and industries minister Duddilla Sridhar Babu on Friday said that companies are willing to expand their operations to Tier-2 and Tier-3 cities in the state because of the positive ecosystem created by the state government.
Announcing a decision by HC Robotics to invest ₹500 crore in smaller cities, the minister said the company will create 500 new jobs this year and increase employment by another 2,000 over the next three years.
Centillion Networks has already launched operations in Karimnagar, and several other companies are following suit by expanding to Tier 2 and 3 cities.
With its headquarters in Hyderabad, Centillion Networks and its subsidiary HC Robotics operate in nine countries, specialising in drone technology, drone software, telecommunications, robotics, and aerospace software development. The company currently employs 2,000 professionals.
Replying to a question, Sridhar Babu said that the incentive amount due to small and medium enterprises (SMEs) has accumulated to `4,500 crore and has been stuck since 2016.
Since assuming office, the Congress government has prioritised clearing these dues, he said, adding that the government will take over land allotted to industries if it remains unused for unjustifiable reasons and will also take legal action against unauthorised usage.
A comprehensive review of the Industrial Health Clinic, which was set up to revitalise struggling industries, is also underway. "If it proves beneficial, we will allocate additional funds to ensure its continued operation," he said.
“Of the 18 MoUs signed at Davos last year, 17 are already in motion, and 10 have achieved over 50 per cent implementation. This year, we have secured agreements for investments worth a staggering Rs 1.8 lakh crore. Unlike the opposition, which indulges in baseless propaganda and fear-mongering, we are actively working to convert these agreements into reality,” Sridhar Babu said.
Special chief secretary Jayesh Ranjan, Centillion Networks chairman and MD Venkat, director Radha Kishore, and India operations head Sudhakar, among other industry leaders, were present at the press conference.
