HYDERABAD : IT, Industries and Commerce Minister D Sridhar Babu on Monday said that the state government was able to attract huge investments at the recent World Economic Forum meetings in Davos due to its industry-friendly policy.
Addressing the gathering after inaugurating the Jeh Aerospace at JCK Horizon Industrial Park here, he said that the state has secured unprecedented investments from the World Economic Forum meetings in Davos.
“Investments have doubled compared to last year. This year’s Davos visit yielded good results as investments from Rs 20,000 crore to over Rs 40,000 crore,” he said.
“Several companies from energy, IT, aerospace, defense and several other sectors came forward to invest in the state. This was made possible by the industry friendly policy of the government,” he added.
Stating that the government is committed to encouraging the aerospace sector, Sridhar said that India will compete with the aerospace giants in the US and Australia.
“The encouragement in aerospace production will result in eliminating the difference between demand and supply. The state government is also committed to encouraging technological advancements like AI,” he added.