HYDERABAD: UAE-based firms Shaiva Group and Taranis Capital have committed to investing Rs 2,125 crore in Telangana. The two companies signed memoranda of understanding (MoUs) with five Telangana-based firms in the presence of IT and Industries Minister D Sridhar Babu at the Secretariat on Tuesday.
Appreciating the investment, Sridhar Babu said: “We welcome Shaiva Group and Taranis Capital, two UAE-based investors who have chosen to become partners in Telangana’s development. This collaboration is expected to create jobs for 5,020 people in the state.”
He said the development reflected the government’s efforts under Chief Minister A Revanth Reddy to attract investment and generate employment opportunities for the state’s youth. The minister pointed out that the Congress regime had filled over 60,000 posts in the government sector and attracted investment worth over Rs 3 lakh crore in the last 18 months, which, he said, led to the creation of more than one lakh private sector jobs.
Sridhar Babu added that the two UAE firms had expressed interest in investing an additional Rs 24,000 crore over the next three years in areas such as biotechnology, artificial intelligence, data centres, defence, energy, fintech and public infrastructure. In biotechnology, the focus would be on reducing sugar in consumables, anti-diabetic innovations, food management products and large-scale projects like ‘Fourth City’ and ‘AI City’.
Rejecting criticism, Sridhar Babu said claims that industries were leaving Telangana and that no investments were being made were misleading. He said people should carefully assess such statements.
On skill development, he said: “Our greatest strength is our youth. However, industry leaders often point out that graduates are not job-ready. To address this, we have established the ‘Young India Skills University’ to meet international standards and create a skilled workforce suited to industry needs.”
The signing of MoUs was witnessed by the chairman and CEO of Shaiva Group Amit Jagannath Varma, Taranis Capital CEO Nicholas S Bingham, the MD of Revelations Biotech Ravichandra Beeram, the director of Manakin Bio Jashwant Pranav Yathirajam, Svobodha Infinity Advisers CEO Sankarsh Chanda, Exigent Drilling Technology Pvt Ltd director Panduranga Rao Tammineni, Yentra Tech Controls CEO Sameer Kanth and former MLA Roy Din Roach.