Davos summit: TDP slams Andhra CM for skipping World Economic Forum, says state suffering foreign investment losses

Pattabhiram said that Jagan Mohan chose to give the summit a miss, while Telangana and Karnataka Chief Ministers are making the most of it.

BySouth First Desk

Published Jan 18, 2024 | 1:17 PMUpdatedJan 18, 2024 | 1:17 PM

Andhra pradesh wef

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy was criticised by the TDP on Wednesday, 17 January, for skipping the World Economic Forum (WEF) in Davos. The main opposition party in Andhra noted that the state has suffered heavy losses with regard to foreign investments in the last five years.

TDP spokesperson Kommareddy Pattabhiram said that Jagan Mohan chose to give the summit a miss while Telangana and Karnataka Chief Ministers are making the most of it.

The delegation of the Karnataka government, headed by Minister for Large and Medium Industries and Infrastructure Development MB Patil, brought ₹22,000 crore investments to the state on Tuesday.

The Telangana government’s delegation, headed by Chief Minister Revanth Reddy, secured investments worth ₹36,500 core on Wednesday.

‘Inefficiency of Jagan’

“Due to the inefficiency of the Chief Minister, the state has suffered heavy damage in the past five years with regard to foreign investments… Jagan has skipped the Davos summit this year, too, which is very helpful in attracting foreign investments for the state,” Pattabhiram said at a press conference.

He said that Jagan Mohan attended the WEF only once in the past five years but even then, he could not bring any investments for the state.

The TDP leader also criticised Industries Minister Gudivada Amarnath for failing to take representatives to the Davos summit this year.

Pattabhiram said that TDP supremo and former chief minister N Chandrababu Naidu had attended the WEF every year between 2014 and 2019 to attract foreign investments for Andhra Pradesh.

Also Read: Karnataka signs MoUs worth ₹22,000 crore at WEF Davos

K’taka attracts investments

One of the major investment plans finalised by the Karnataka government is an MoU signed with Web Werks to set up a 100 MW data centre park worth ₹20,000 crore in Karnataka.

Calling the investment by Web Werks a giant leap in the infrastructure of the state, Karnataka Chief Minister Siddaramaiah welcomed the investment from the company in a post on X.

Additionally, four other companies have entered into MoUs with the Karnataka government, collectively valued at over ₹2,000 crore.

Honeywell, Microsoft, Hitachi, Sony, Coinbase, Nestle, Lulu Group, and Inox were some of the major companies with which Karnataka signed MoUs.

Also Read: Invest in Telangana: Adani Group announces investments of ₹12,400 crore

Adani Group in Telangana

For Telangana, Adani Group has inked MoUs, charting a course for investments totalling ₹12,400 crore to be infused into various sectors in Telangana over the forthcoming years.

Besides, Adani Group has also agreed to support the Chief Minister’s goal of creating skilling universities in Telangana, the press release said.

Web Werks has also announced ₹5,200 crore to establish data centres in Telangana. Aragen Life Sciences, which is in the manufacturing and R&D space in the life sciences sector, announced plans to invest ₹2,000 crore on its existing plant here for expansion, which will create 1,500 new jobs.

JSW Neo Energy, a subsidiary of JSW Energy, has announced that it would set up a Pumped Storage Project in Telangana, with an investment of ₹9,000 crore.

(With PTI inputs)