Hyderabad: IT Minister D. Sridhar Babu addressed the media on Sunday to clarify why certain companies have been leaving Telangana since the Congress government took over. He assured that significant investments and projects are in the pipeline.
Sridhar Babu announced that projects worth Rs 9,000 crore would be formalized through memoranda of understanding (MoUs) within the next three months. Additionally, the government secured Rs 40,000 crore in investments during the Davos economic summit.
He highlighted the situation with Keynes Technology, which had announced during the BRS administration its plans to establish an Assembly and Testing (OSAT) and compound semiconductor manufacturing facility in Telangana with an investment of Rs 2,800 crore. The company is still awaiting incentives from the Union government.
Sridhar Babu also mentioned that former IT Minister K. T. Rama Rao had announced that US-based Corning Inc., a provider of specialty glass, ceramics, and related materials and technologies, would set up a Gorilla Glass manufacturing unit in Telangana. However, the MoU or binding agreement for this project was never signed.
Reassuring the public, Sridhar Babu stated, “We are not idle. If some companies leave, many more will come to Telangana.”
