Rs 31,500 crore investment deal concluded during Telangana CM�s US visit

Hyderabad, Aug 11 (IANS) Rs 31,500 crore investment deal was signed during Telangana Chief Minister A. Revanth Reddy’s visit to the US, which concluded Sunday.

The state government termed the visit of the Chief Minister as a highly successful business tour.

As per Chief Minister’s Office (CMO), during the visit 19 investment deals/MOUs, totalling an investment of 31,500 crore, were concluded. This is expected to create 30,750 new jobs in the state.

The delegation, comprising IT and Industries Minister D. Sridhar Babu, and officials, had over 50 business meetings and three roundtable conferences in New York, Washington, Dallas and California.

The CMO claimed that the delegation got massive reiteration and support for various major initiatives including the creation of a Future City, AI City, rejuvenation of Musi River, and the zealous pitch to shape Telangana as the right fit for the quest of America, Inc. for a China plus one alternate.

The delegation held roundtable conferences on business, AI and semiconductors, spanning coast to coast, and also met with CEOs, founders and business alliances and groups, inviting them to come to Hyderabad and consider Telangana in their future plans.The delegation pitched Hyderabad and Telangana to business heads and investors across different sectors and closed new and expansion deals in IT, GCC, Lifesciences, Pharma, Data Centres, AI, Cloud and Data Centres, Electric Vehicle and batteries, green energy, FMCG and manufacturing.

The major announcements in the IT sector include the Charles Schwab GCC, one of America’s leading financial sector corporations.

The Trinet deal opens major forays ahead in the HR solutions sector. The significant expansion announcements by global IT major Cognizant, and Arcesium, reinforced the edge of Hyderabad in the IT/GCC space.

The pharma/life sciences sector saw fresh investments from nearly a dozen American companies.

The MoU with Corning on skilling and flow chemistry reiterates the company's commitment to grow in Telangana and also reinforces the city’s R&D capabilities.

The announcement by Amgen, a top biotech company, to set up a new R&D tech facility is a major breakthrough for Hyderabad. A new GCC by Zoetis Inc, the leader in the animal health sector, and significant expansions by HCA and Thermofisher are set to give a further boost to the life sciences ecosystem of Telangana.

Another major takeaway from the visit was the decision by Amazon to make significant expansions in their data centre presence in Hyderabad and use the city as a hub in a big way to drive their India presence.

Aurum Equity too made a significant announcement to set up an AI-powered green data centre.Monarch Tractors adds a crucial fillip to Telangana’s ambition of growing in high-end manufacturing.

The delegation also engaged with Apple, Google, and Stanford University.