Telangana has been successful in attracting investments from businesses in 18 different nations.
Hyderabad: Telangana has had success attracting investments from businesses based in 18 different nations. According to IT and Industries Principal Secretary Jayesh Ranjan, the quantity and value of investments coming from the US are over eight times greater than those from the remaining 17 nations combined.
Speaking on Monday at the opening of the Hyderabad chapter of business organization Indian American International Chamber of Commerce (IAICC), he said that Telangana and the US had had diplomatic ties for many years. There are around 200 US consulates worldwide, but the one in Hyderabad, according to him, grants the most student visas.
Particularly in the recent eight years after Telangana’s creation, more American businesses have begun to invest in Hyderabad. “Companies from 18 different nations have invested in us. American businesses have made investments totaling nearly eight times as much as those made by businesses from the other 17 nations combined. Saying that at least three or four fresh investment offers arrive each week is not an exaggeration. Many currently operating businesses also desire to expand. Being in this circumstance is fantastic, he remarked.
He described Hyderabad as a desirable location for investments and stated, “There is an overwhelming reaction. Although the investment amounts appear substantial, this is only the surface. We can go even deeper,” he remarked.
The chosen industries are those in technology, defense, aerospace, life science, and logistics. “The businesses who choose Hyderabad received a lot more than they bargained for. In the US, they are promoting us and discussing TS. We have a good reputation in the US. The state’s interests are promoted in the US, according to IT Minister KT Rama Rao.
Speaking of the several major transactions under discussion, he said the reception was excellent. “Inbound investments result in job growth. We are also attempting to open doors for Hyderabad-based businesses to establish operations in the US, the official stated.
“Due to the presence of PSUs and R&D facilities here, Hyderabad qualifies as a significant center for the defense and aerospace industries. The city is home to many scientists. But the orders from the US are reasonable given our resources, he continued.
Currently, Telangana has the most laboratories that have received FDA approval. “The life sciences industry is prospering. In research and development, there are exchanges taking place. The cooperation was essential during the epidemic. Outside, people talk about T-Hub, T-Works, and other amenities, he claimed.
The IAICC’s Hyderabad Chapter has elected Suresh Rayudu Chitturi, vice president and managing director of Srinivasa Farms, to serve as its first chairman.
