Published Dec 25, 2024 | 12:16 PM ⚊ Updated Dec 25, 2024 | 12:16 PM
Chief Minister Revath Reddy at the book launch. (X)
Telangana Chief Minister A Revanth Reddy on Tuesday, 24 December, said it was not possible to cancel unilaterally the agreement that was signed with Adani group in 2018 for the setting up of a defence and aerospace unit in Hyderabad as it was in pursuance of centre’s policy of allowing 100 percent private investments into the defence sector.
The chief minister, by indicating that such agreements cannot be scrapped, has indicated that not only Adani’s defence facility near Hyderabad would continue but also the agreements that the Telangana government had signed with Adani Group at Davos in January this year for ₹12,400 crore.
The chief minister, responding to the pleas of speakers prior to him at the launch of a book – Nuts and Bolts of War and Peace, written by former Congress MLC Yadav Reddy, in Hyderabad on Tuesday, said that there was no way the incumbent government could cancel the agreements with Adani as they were part of the centre’s policy
He said the previous government had signed an agreement with the Adani group for the location of a defence manufacturing unit. “The state government has to honour the agreements since it has the sanction of the centre’s policy of allowing 100 percent private investments into the defence sector,” he said
The Adani Defence and Aerospace in Hyderabad is a defence facility which makes Aerial Vehicles (UAVs). Established in collaboration with Israel’s Elbit Systems, it is India’s first private UAV manufacturing unit and the first one outside Israel to produce the Hermes 900 Medium Altitude Long Endurance UAV.
The facility, which began operations in December 2018, focuses on the production of complete carbon composite aerostructures for the Hermes 900, followed by the Hermes 450, catering to global markets. The plan includes scaling up the assembly and integration of complete UAVs.
Sharing the concern of the speakers that allowing private investments in the defence sector has far-reaching consequences, at the book launch programme, the chief minister said he, in his capacity as the chief minister, would definitely look into what he could do in this area.
The Opposition BRS has been castigating the Congress for what it calls a dual policy on Adani— leading a movement against Adani and encouraging and continuing the agreements with the Adani Group in Telangana.
He said that after Narendra Modi became the prime minister of the country, 100 percent private investment in areas like the defence sector was allowed. The centre has statutory backing for allowing the investments, which makes it difficult for the state government to cancel them, even if it wants.
The chief minister said that he was not referring to Adani alone but there were several investors like him and if the trend had to be reversed, it was necessary that the centre’s policy has to change. “I will do what I can in this direction,” he said.
(Edited by Sumavarsha)
