Telangana Chief Minister Revanth Reddy-led team secure over ₹31,500 crore investment from US firms

After the success in the USA, the Telangana government delegation led by Chief Minister Revanth Reddy left for South Korea.

South First Desk

Published Aug 12, 2024 | 12:32 PM ⚊ Updated Aug 12, 2024 | 4:56 PM

Telangana government delegation in the USA. (X)

Telangana Chief Minister A Revanth Reddy secured 19 investment deals and MoUs, totalling an investment of ₹31,500 crore and about 30,750 new jobs for the state, in his first official visit to the US.

In the now-concluded business tour, the Telangana government delegation, which included IT Minister Sridhar Babu held 50 business meetings and three round table meetings, in New York, Washington, DC., Dallas and California, to strengthen ties in ITeS, AI, pharma and life sciences, electric vehicles, data centres and manufacturing sectors.

The delegation which pitched Telangana as the next investment destination got massive support for various major initiatives including the creation of a Future City, AI City, and rejuvenation of the Musi river, an official press release said.

After the success in the US, the delegation led by Revanth Reddy left for South Korea. The delegation also engaged with Apple, Google, and Stanford University.

Also Read: As Telangana signs ₹1,000 crore deal with ‘mystery’ firm, BRS raises questions

Major deals signed in the USA

Charles Schwab will establish a new Global Capability Centre in Hyderabad
TriNet, a major HR solutions company signed a deal with the Telangana government, opening major forays ahead in the HR solutions sector.
The significant expansion announcements by global IT major Cognizant, and Arcesium, reinforced the edge of Hyderabad in the IT/GCC space.
Amazon is set to expand its data centre presence in Hyderabad.
Telangana government signed an MoU with Corning on skilling and flow chemistry, reaffirming the company’s commitment to expanding in Telangana while also strengthening the city’s R and D capabilities.
Amgen, a top biotech company, in a major breakthrough, is to set up a new R&D tech facility.
A new GCC by Zoetis Inc., the leader in the animal health sector, and significant expansions by HCA and Thermofisher are set to give a further boost to the life sciences ecosystem of Telangana.
Aurum Equity to set up an AI-powered green data centre.
Monarch Tractors—driver-optional electric tractors— handed over a letter of intent to explore setting up a tractor-testing facility in Telangana.

“The trip opened a myriad of areas for accelerated partnerships, setting new horizons and showcasing our wealth of potential for newer opportunities. From our plans in AI to building the Future City, corporations, startups, business leaders, tech and business associations and influencers have agreed to take our breathtaking vision to more people,” Revanth Reddy said, before leaving for South Korea.

Meanwhile, Sridhar Babu noted, “We have exceeded our goals, generating massive excitement in the American business world. The road ahead is promising, and we’ll ensure many more closures in the coming months.”

Also Read: Wait for Cabinet berths in Telangana continues

(Edited by Sumavarsha Kandula)

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