Minister for IT and Industries Duddilla Sridhar Babu has urged official delegates from Latin American and Caribbean nations to encourage their local industrialists to invest in Telangana by highlighting the state's conducive environment for setting up industries.

Speaking as the chief guest at the second edition of the India–Latin America and Caribbean Countries Business Conclave, organized by the Global India Business Forum (GIBF) at Banjara Hills here on Saturday, the Minister outlined the investment advantages and the various incentives offered by the state government to industrialists.

He observed that the trade policies adopted by former US President Donald Trump, particularly the imposition of tariffs on goods from various countries, have, in some ways, turned out to be beneficial for India.

In the current global scenario, many industrialists seeking investment opportunities are increasingly turning their attention toward India, he noted.

The Minister emphasized that Telangana is actively working to capitalize on these developments and attract greater investments. He predicted that Telangana will play a pivotal role in the future of the Indian economy. A special policy has also been introduced to empower MSMEs in Telangana to compete on the global stage. 

He assured that the State government would extend comprehensive support to all industrialists willing to invest in Telangana. The Minister also disclosed that six international companies, including three are Korean companies, have come forward to invest in the NIMZ (National Investment and Manufacturing Zone) at Zaheerabad.

The government is encouraging the establishment of industries in Tier-2 and Tier-3 cities across the state. Special focus is also being placed on promoting agro-processing industries to transform farmers into successful entrepreneurs, he said.

Sridhar Babu highlighted many cultural and economic similarities between Telangana and the Latin American and Caribbean countries and extended an invitation to collaborate closely with these nations. The event was attended by GIBF representatives including Joshi, Chakravarthy and Dr. Seetharam, among others.