Investment push gains momentum: Sridhar Babu

metro india news  I hyderabad

Minister for IT and Industries Duddilla Sridhar Babu informed the Legislative Assembly that the Telangana government has secured significant investment commitments during its participation in the World Economic Forum meetings at Davos in 2024 and 2025. A total of 44 Memoranda of Understanding have been signed with leading corporations, involving investments worth Rs 2.19 lakh crore. These projects are currently at various stages of implementation and are expected to generate 68,150 direct employment opportunities across the State.

Responding to queries raised by members Katipalli Venkataramana Reddy, Payal Shankar, and Dhanpal Satyanarayana, the Minister stated that land has already been allocated to six companies associated with investments worth Rs 81,800 crore. This process has yielz Rs 1,540 crore in revenue for the State. Additionally, land parcels have been identified for three more companies with proposed investments of around Rs 30,000 crore.

Highlighting regional development, Sridhar Babu noted that the IT Tower in Nizamabad has a seating capacity of 681, with 11 companies currently operational and employing 276 professionals.

The Minister strongly refuted allegations made by the opposition regarding investment inflows, describing them as malicious and baseless. He stated that such criticism stems from an inability to accept the State’s success in attracting global investments. He cautioned that spreading false narratives for political gain is detrimental to Telangana’s growth prospects.

Reiterating the government’s commitment to transparency, Sridhar Babu announced readiness to release a comprehensive White Paper detailing MoUs, investments, and associated companies. He also expressed openness to holding a short discussion on the matter in the Assembly.

Emphasizing the importance of global engagement, the Minister said that platforms like the World Economic Forum are crucial for showcasing Telangana’s strengths and attracting investors. He clarified that MoUs require time to materialize into grounded projects and urged stakeholders to understand the process rather than misrepresent it.