KTR’s foreign visit spurs huge investment creating 42,000 direct jobs in Telangana
KTR in his highly productive tour of the UK and the US participated in over 80 business meetings, attended five sector-specific roundtable meetings, and addressed two conferences
HYDERABAD: IT and Industries Minister KT Rama Rao's highly productive tour of the UK and the US has come to an end. The two-week trip included a series of accomplishments. He participated in over 80 business meetings, attended five sector-specific roundtable meetings, and addressed two conferences.
Notably, significant investment announcements were made across various sectors, resulting in a remarkable creation of around 42,000 jobs in Telangana.
During the trip, KTR attended meetings in London in the UK, New York, Washington DC, Houston, Henderson, and Boston in the US which attracted several big-ticket investments. These investments span various sectors like BFSI (Banking, Financial Services, and Insurance), emerging technologies, IT and ITES, media and entertainment, aerospace and defence, life sciences, medical devices, digital solutions, innovation and data centre, automotive and EV, etc., and reaffirmed Telangana’s position as a global investment hotspot.
The proposed investments and prospective collaborations will create around 42,000 direct jobs and each job has the potential to create a lot of indirect jobs. The global companies which announced their investment and expansion plans include Warner Bros. Disney, the global media powerhouse; Medtronic, a global leader in healthcare technology; State Street, the world's largest asset management company; Bain Capital-owned VXI Global Solutions; and the London Stock Exchange Group.
Other big announcements for Telangana are from DAZN, a global leader in sports live streaming, Technip FMC, a French American oil and gas giant; AlliantGroup, a top global consulting and financial firm; StemCures, a specialist in stem cell therapy; Mondee, The world’s largest B2B2C Travel Marketplace and Technology Innovation Company, ZapCom Group, a product engineering and solutions company.
Apart from attending business meetings, KTR also participated in two major conferences. In London, the Minister attended the ‘Ideas for India’ conference on May 12, 2023, and spoke highlighting the triumph of Telangana Model to the global audience and stressed the need for India to adopt the Telangana Model.
The Minister delivered a keynote address at the World Environmental and Water Resources Congress held by the American Society of Civil Engineers in Henderson, Nevada on 22 May 2023 and showcased the success stories of Telangana’s flagship water projects Kaleshwaram and Mission Bhagiratha at the conference. The Kaleshwaram Project received a global honour as the ‘Enduring Symbol of Engineering Progress and Partnership’ from the civil engineering body.
The Minister took part in five round tables during his UK and US tour and spoke on a wide array of subjects. At the roundtable organised by the High Commissioner of India in London, KTR spoke on the remarkable progress of Telangana in the last nine years, the rapid growth of the state’s economy, Telangana government’s progressive industrial policies and the thriving innovation ecosystem in Hyderabad.
At the investor roundtable meeting in New York, jointly hosted by Consulate General of India in New York and US India Strategic Partnership Forum, KTR conveyed that Telangana was ready to be the ideal gateway for investors choosing India as their destination.
At the aerospace and defence roundtable led by the Minister, he showcased the spectacular growth of the Aerospace sector and private sector defence investments in Telangana in the past nine years, making Hyderabad the most preferred investment destination for US aerospace and defence corporations.
The Minister also participated in roundtables organised by the American Health Association (AHA) and the Centre for Strategic and International Studies (CSIS).
Growth of tier-II cities
The highlight of the tour was that the Telangana government’s vision to spread IT across Telangana had received a big boost and several companies had come forward to invest in Tier-II cities of Telangana following the meeting with the Minister. KTR had a meeting with NRI CEOs of more than 30 companies and emphasized the growth of IT in Telangana’s Tier-II cities and explained the measures taken by the state government and encouraged the IT companies to start their operations in Tier-II cities.
The major fillip for the expansion of IT across the state came from Sonata Software, a leading modernization engineering company, which decided to expand to Nalgonda by adding 200 jobs in the soon-to-be-opened Nalgonda IT Tower and 3M-ECLAT’s announcement to start an operations centre in Karimnagar. Also, Rite Software has evinced interest to expand its operations to Warangal in the near future.
KTR took a nostalgic trip down memory lane, reminiscing his previous successful business trip to the US in 2015. On the latest trip, the Minister was as enthusiastic as he was in 2015 in attending meetings and attracting investments. This passion and determination underscore the Minister’s exceptional accomplishments and initiatives in various portfolios.
As the state is about to begin Telangana formation decennial celebrations, the investments secured and the staggering 42,000 jobs they will create stand as a testament to the progress achieved under the visionary leadership of Chief Minister K Chandrashekar Rao.
The Minister thanked the NRIs and Indian diaspora for their support and love and his team for making the trip a big success. The delegation that accompanied the Minister’s team comprised Principal Secretary, IT and Industries Department, Jayesh Ranjan; Special Secretary, Investment Promotion & NRI Affairs, E Vishnu Vardhan Reddy; Director, Telangana Digital Media Wing, Dileep Konatham; CEO, Telangana Lifesciences, Shakthi M Nagappan; Director, Aerospace & Defence, Praveen P A; Chief Relations Officer Amarnath Reddy Atmakuri and IPO, Invest Telangana, Venkata Sekhar.