At a time when the Y S Jagan Mohan Reddy government in Andhra Pradesh is not showing any interest in securing industrial investments to the state, the Telangana government is going all out to attract foreign investments in the state, thanks to the initiative taken by state industries and IT minister K T Rama Rao.
Though former Andhra Pradesh IT and industries minister Mekapati Gautam Reddy made efforts in his own way by touring the US and other countries to fetch some investments in the state, there has been no follow up action from the state government after his death.
On the other hand, KTR has been extensively touring the US and holding meetings with industrial and IT giants to attract them to Telangana.
Medical devices company Confluent Medical announced establishment of a pilot manufacturing facility in Hyderabad and its aggressive expansion plans for the next 12 months.
Chemveda Life Sciences, San Diego, agreed to invest Rs 150 Crores for expansion in Hyderabad. Callaway, one of the world’s biggest golf brands with an annual revenue of USD 3.2 Billion has announced that it will be setting up a DigiTech Center in Hyderabad, Telangana.
Lucid Motors, an American electric vehicle manufacturer headquartered in Newark, California, also evinced interest in coming to Telangana.
And US aquaculture major Fishin’ Company, the largest importer of Tilapia variety of fish in the world and the largest importer of frozen food into the US announced an investment of Rs 1,000 crores in Telangana.
American multinational corporation Qualcomm with its headquarters in San Diego, California, has informed that they are investing Rs 3904.55 Crores to expand their Hyderabad operations and are planning to inaugurate their second largest campus outside the US in October 2022.
On Saturday, KTR received standing ovation at the meet and greet programme held at New Jersey, where he appealed to the Indian diaspora to become a part of the Mana Ooru - Mana Badi program by contributing through the portal.
