KTR trip to Davos yields investment worth ₹21,000 crore across sectors for Telangana

Telangana managed to bag some big-ticket investments, some of the major ones were in the IT sector.

BySumit Jha

Published Jan 22, 2023 | 1:13 PMUpdatedJan 22, 2023 | 1:13 PM

KTR Davos investment Telangana

The Telangana delegation led by IT and Industries Minister KT Rama Rao (KTR) has inked deals worth some ₹21,000 crore across sectors on the sidelines of the World Economic Forum (WEF) annual meeting in Davos.

KTR, who was on his fifth visit to the WEF, concluded his trip on Saturday, 21 January.

Some of the major investments came in the IT sector, for for data centres. The biggest of this was from Microsoft, which announced it would set up three more data centres in Hyderabad at an investment of ₹16,000 crore.

Bharti Airtel Group is also to set up a large Hyperscale Data Centre in Hyderabad at ₹2,000 crore.

Eurofins, a pharma major has announced the establishment of a state-of-the-art laboratory campus in Genome Valley at an outlay of ₹1,000 crore.

Other global companies such as PepsiCo, P&G, Allox, Appollo Tyres, WebPT, and Inspire Brands came forward with investments worth another ₹2,000 crore.

Strengthening ties

Sharing his experience of the visit, Minister KTR observed that the WEF is the right platform to introduce Telangana, a progressive state which has exceptional industrial policies and infrastructure. He noted that Telangana was strengthening its ties with companies using the WEF platform.

“All the meetings at the WEF were highly productive and we were able to attract ₹21,000 crore at the meet,” said KTR in a statement..

KTR said that bringing industries and companies to Telangana and thereby creating employment was the driving force behind seeking big-ticket investments.

“I believe that all the new investments and meetings regarding prospective investments will yield favourable outcomes,” said KTR.

He added that the big draw of this edition of the annual jamboree was the WEF coming forward to establish its first Indian centre in Hyderabad. This thematic centre will focus on life sciences and health care.

“This announcement further consolidates the city’s position as the hub for life sciences and pharmaceuticals,” said KTR.

Other meetings

KTR used his four-day visit to also participate in meetings with leaders of top global organisations, attend round tables and speak at panel discussions to share his thoughts on a wide array of subjects relating to the state.

In addition, the minister also interacted with the Indian diaspora in Zurich and highlighted the progress of Telangana to non-resident Indians in Switzerland.

Also, Telangana the pavilion presented information regarding Telangana’s geography, investments it attracted in the last eight years, and initiatives of IT and Industry departments, such as innovation incubators T-Hub and T-Works.

Videos of various government programmes, policies and projects like the Kaleshwaram Lift Irrigation project, completed in a record four years, played at the pavilion and were a special attraction.

The pavilion, located on Promenade road, the main thoroughfare of Davos, was abuzz with visitors.