* Hyderabad based companies are inking pacts with the Telangana Govt at Davos, seems it is better to seal deals at Davos rather than back home

* Three are home-grown companies MEIL, CtrlS and Skyroot sealed deals

mahesh avadhutha  I hyderabad

MEIL, CtrlS, Skyroot inked pacts with Telangana government in the ongoing WEF annual meet in Davos that would result in crores of big investments and thousands of employment opportunities for the youth of the state.

It is an interesting coincidence but these three are homegrown companies based out of Hyderabad. MEIL (Megha Engineering & Infrastructures Limited), CtrlS are established and big names while Skyroot is a start-up founded in 2018 by former engineers and scientists from ISRO. Noida based HCL Tech, a reputed IT consulting MNC also came forward to expand their footprint in Hyderabad after their talks with CM Revanth Reddy-led Telangana delegation were fruitful.

In a normal scenario, for companies to get an audience with the ever-busy Chief Minister, or Industries Minister or Principal Secretary, Industries of a top state in India is a big challenge. If all of them are seated alongside in one single room, it would perhaps be an ideal setting for decision makers from various companies to strongly pitch for their products, tech solutions etc.

And this is what is happening in Davos. Homegrown Hyderabad and Indian companies are getting a chance to connect with policy makers from different states, including Telangana, Andhra Pradesh and Maharashtra etc that are represented by their respective Chief Ministers.

Sharing his perspective, K Sudhir Reddy, President, Telangana Industries Federation (TIF) stated that Davos is an international platform attended by potential investors from across the world and heads and higher-ups in the governments from different countries, not just India and what's crucial is the easy accessibility to connect with the key policy makers. 

So big and emerging companies are making it a point to attend the WEF meeting without fail every year. These are in-principle MoUs in which both parties express their interest to work together while the actual procedure will begin only after they come back to Hyderabad or India and initiate further discussions before the final tie-up happens, he said, pointing out that some MoUs materialise while a few may not.

Earlier Investment Summits used to be regular If one may recall in the combined state, governments used to conduct investment summits where the who's who from the business industry used to be invited and later MoUs used to be signed by the companies and the governments. While no such summit took place in Telangana in the last 10 years, CMs Chandrababu Naidu and YS Jaganmohan Reddy conducted large-scale investment summits in Visakhapatnam during their tenures as the CM in the residuary AP state.

K Sudhir Reddy said that though no stand-alone investment summit was conducted in Telangana in the last 10 years, the then government used occasions like the launch of IT, Industrial Policy or TS-iPASS etc to sign MoU with various companies.