Telangana Chief Minister A. Revanth Reddy Promotes Hyderabad as a Global Investment Hub
Hyderabad, August 14, 2024 – Telangana Chief Minister A. Revanth Reddy emphasized on Wednesday that Telangana is positioning itself not in competition with neighboring states like Andhra Pradesh and Karnataka, but on a global scale. Speaking at the inauguration of Cognizant’s new campus in Hyderabad, Reddy asserted that Hyderabad’s unique attributes set it apart from other cities in the region, making it a prime destination for international investment.
Reddy’s comments came shortly after his return from a high-profile tour of the United States and South Korea, where he actively sought investments for Telangana. Highlighting the state’s strategic advantages, the Chief Minister extended an invitation to global industries to invest in Hyderabad and Telangana, promising full support from the state government.
“Come and invest. The Telangana government will provide you with all the necessary support,” Reddy stated, underscoring the state’s commitment to fostering a favorable business environment.
In his address, Reddy unveiled plans for the development of a new urban area, Future City, which will be the fourth major city in Telangana alongside Hyderabad, Secunderabad, and Cyberabad. He described Future City as a testament to the government’s dedication to state development and economic growth.
Reddy reported that the recent international visit yielded significant investment commitments totaling Rs. 31,500 crore, anticipated to generate approximately 30,750 jobs. He expressed optimism about further agreements, revealing that additional Memorandums of Understanding (MoUs) are expected to be signed in the near future.
To facilitate investor engagement and streamline investment processes, Reddy announced the formation of an Investor Task Force. This initiative aims to enhance interactions between investors and the state government, ensuring that potential investment opportunities are maximized.
Outlining his vision for Telangana’s future, Reddy introduced a strategic development plan featuring three distinct rings: the Core Urban Area of Hyderabad, a semi-urban zone designated for manufacturing, and a rural area where Asia’s best villages with advanced facilities will be established beyond the proposed Regional Ring Road. This comprehensive plan reflects the state’s ambition to transition into a trillion-dollar economy within the next decade.
Reddy also expressed strong support for Cognizant’s expansion in Hyderabad, recognizing the IT giant as the second-largest employer in the state. He acknowledged the historical foundation of Hyderabad’s IT sector, tracing its growth back to former Prime Minister Rajiv Gandhi, and highlighted the continued contributions from leaders like Chandrababu Naidu and Y. S. Rajasekhara Reddy.
In conclusion, Reddy reiterated that, regardless of political differences, the development of Hyderabad remains a priority for all stakeholders, underscoring the city’s pivotal role in Telangana’s economic trajectory.
