Hyderabad: Chief Minister A. Revanth Reddy on Monday expressed delight over the substantial investments that flowed into the state from memoranda of understanding (MoUs) signed during his visit to the World Economic Forum (WEF) annual meeting in Davos last year.
During a review meeting on industries and investments in Telangana held on Monday, the Chief Minister said that most agreements have been successfully implemented within a year, bringing in Rs 40,232 crore in investments for the state.
Revanth Reddy will lead a delegation, which includes minister D. Sridhar Babu and senior officials, to Singapore and Davos from January 16 to 22. The visit aims to build on the state’s success by securing additional investments.
During the Singapore trip from January 16 to 19, discussions will focus on collaborations with Skill University and other potential agreements. From January 20 to 22, the Chief Minister will participate in the WEF annual meeting at Davos to showcase Telangana as a global investment hub.
Fourteen leading companies came forward to invest in the state, while agreements have been signed for taking up 18 projects.
Officials briefed the Chief Minister that about 17 of these projects have already started and 10 projects are in various stages with fast progress. The officials also informed Revanth Reddy that seven projects are in the initial stage.
Revanth Reddy said the Congress government’s efforts in creating an investor-friendly ecosystem has attracted companies in both the manufacturing and service sectors. He noted that the state's industrial policy and welfare schemes have significantly bolstered Telangana’s economy in the first year of his administration.
The meeting, which was held at the Chief Minister’s residence, was attended by IT and industries minister D. Sridhar Babu, CM advisor Vem Narender Reddy, CM special secretary Ajith Reddy, TSIIC managing director Vishnuvardhan Reddy, and senior officials.
Officials briefed the Chief Minister on the itinerary, including conferences and meetings with representatives from various global industries.
Revanth Reddy instructed officials to highlight Hyderabad's potential as a "Future City" on the global stage. He stressed the city’s strengths, including its infrastructure, talent pool, and conducive business environment, as key factors for attracting international investors.
The Chief Minister reiterated that the state’s industrial growth and welfare programmes have strengthened Telangana’s economy, positioning it as a leader in attracting investments. He expressed confidence in the success of upcoming initiatives and affirmed the government’s commitment to fostering economic development through global partnerships.
