Hyderabad: The Telangana state has secured investments worth ₹92,906 crore in the last eight months since Chief Minister A. Revanth Reddy-led Congress government assumed office in December 2023. This influx of investments has resulted in the creation of 1,13,724 jobs, marking a major boost to the state's economy.
A large portion of this investment surge stems from the Chief Minister’s international trips.
In January 2024, his visit to Davos during the World Economic Forum resulted in agreements totaling ₹40,232 crore. His latest tour to the United States and South Korea further garnered ₹36,002 crore in investments, with ₹31,502 crore coming from American companies and ₹4,500 crore from South Korean firms.
Since December, the Congress government has approved 1,764 industries and companies in Telangana, collectively contributing ₹16,672.81 crore and creating 47,974 jobs.
Hundreds of Congress leaders, party workers, and supporters welcomed Revanth Reddy with great fanfare at Hyderabad's International Airport in Shamshabad as he returned from the 11-day tour of the US and South Korea on Wednesday.
The Chief Minister’s visit is being hailed as a landmark achievement in attracting foreign investments, setting a new record for Telangana. During his trip, Revanth Reddy clinched deals with 25 companies, which will create thousands of jobs for Telangana's youth. The delegation focused on sectors like automotive, electronics, semiconductors, energy, and textiles in South Korea, showcasing Telangana as a premier investment destination.
The major highlights of the visit were Hyundai Motors signing an agreement to establish a mega automotive testing centre and a Research and Development (R&D) hub in Hyderabad. Youngone Company, already involved in the Warangal Mega Textile Park, announced plans to open a fashion city in Hyderabad, with 10 acres of land near the airport being allocated for this purpose.
The Telangana government also signed an MoU with the Korean Beauty Industry Trade Association (KOBITA) to explore the potential for setting up cosmetics manufacturing units in the state. Other Korean firms like Dongbang Pharma, JI Tech, and Chaevi Company have committed to establishing facilities in Telangana, including an API manufacturing centre, an LED material plant, and EV charging infrastructure, respectively.
During the trip, Revanth Reddy held discussions with major corporations like LS Group, POSCO, LG, Samsung C&T, and others, inviting them to invest in Telangana as part of their future expansion.
The delegation also visited redevelopment and beautification projects in South Korea, which Revanth Reddy aims to model for the Musi Riverfront project in Telangana. Additionally, the Chief Minister expressed interest in establishing a sports university in the state, inspired by the Korean National Sports University.
