HYDERABAD: Chief Minister A Revanth Reddy concluded his tour of the US, securing over Rs 31,500 crore investments that will bring over 30,750 new jobs. After concluding his visit to the US, the chief minister embarked on a tour of South Korea, a CMO press release said.
The delegation, comprising IT & Industries Minister D Sridhar Babu, Chief Secretary Santhi Kumari and other officials, held over 50 business meetings and three roundtable conferences in New York, DC, Dallas and California, and received support for various major initiatives, including creation of a Future City, AI City, rejuvenation of Musi river, and its pitch to shape Telangana as the right fit for the quest of America Inc. for a China+ one alternate, the release added.
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 to business heads and investors across different sectors and closed new 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 deal with Charles Schwab, one of America’s leading financial sector corporations. The Trinet deal opens up areas 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 and life sciences sectors saw fresh investments from nearly dozen American companies.
Reinforcing R&D capabilities
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, top biotech company, to set up a new R&D tech facility is a major breakthrough for Hyderabad, the CMO said.
A new GCC by Zoetis Inc, leader in 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 of 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 CMO press release added. The delegation also engaged with Apple, Google and Stanford University.
Before leaving for South Korea, Revanth Reddy said: “The trip opened a myriad of areas for accelerated partnerships, setting new horizons and showcasing our wealth of potential for newer opportunities. From our plans in AI to building the Future City, corporations, startups, business leaders, tech and business associations and influencers have agreed to take our breathtaking vision to more people.”
Minister Sridhar Babu said: “We have exceeded our goals, which were audacious to begin with. I am delighted that we could generate so much excitement in American business world, which will lead to a multi-fold impact on investments and new jobs. The pipeline ahead is exciting.”
Number crunch
50+ Business meetings
3 Round table conferences
Rs 31,500 cr Secured investment plans
30,750 Potential jobs to be created with these investments