Revanth Reddy promotes Telangana investment potential in US

Addressing a luncheon meeting with top chief executive officers and business leaders of the US at an official roundtable hosted by Consulate General of India, New York, Revanth Reddy said Telangana was now a powerhouse in software, life-sciences and pharma, with a strong base in aerospace, defence, electronics and other sectors.

“We have great infrastructure, wonderful talent and offer best policy support from our government for investors. Hyderabad, an over 425-years-old city built by the Nizams, is interestingly almost the same age as the United State of America,” the chief minister said.

Over 20 chairpersons, CEOs representing well-known companies from varied sectors, including pharma, IT, technology, EV, GCC, biotech, and shipping sectors, among others, attended the meeting, an official statement from the chief minister’s office said.

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Revanth Reddy, who had been to the US on a mission to attract investments, explained how his government had initiated several ambitious projects which offer opportunities for investment into the future and promise exponential growth.

“We are creating a new industrial policy to match our dreams. We will make it very easy to start a new business and expand your existing business in Telangana. Telangana means business. I mean it,” he said.

State IT minister D Sridhar Babu made an elaborate pitch on the current strengths of Telangana for a variety of industry sectors and detailed the policies that would make the state a viable alternative to China for manufacturing and developing Hyderabad into one of the top 10 cities in the world.

The industry leaders spoke of their experiences of investing worldwide, and doing business in India, and their expectations from Telangana and Hyderabad. They also explained the current plans for investments in the coming days, the official statement said.

Earlier in the day, the chief minister and the IT minister held discussions with Trigyn Technologies, a global digital and intelligence solutions provider specialised in data analytics and Artificial Intelligence start-ups.

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The official statement said Trigyn, which has its office in Hyderabad with 100 people, has proposed to establish an AI innovation and delivery centre in the state capital and it will hire, train and grow to a total capacity of over 1,000 people in the next three years.

Similarly, another technology firm Arcesium, a leading provider of tech solutions for asset managers, announced major plans to expand capacity in Hyderabad. The company representatives led by its CEO Gaurav Suri held a meeting with Revanth Reddy and Sridhar Babu in the morning.

The statement said Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, analytics platforms used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms.

“As part of expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years,” the statement said.

Similarly, the Telangana official delegation also had discussions with Swachh Bio, a lignocellulosic biofuels manufacturing company, which has agreed to invest ₹1,000 crore in Telangana to establish a 2G Bioethanol plant with an employment potential of 500 jobs.

Swachh Bio chairman Praveen Paripati met with the chief minister in New York and held discussions in this regard.