How is Hyderabad Being Promoted as a Global Investment Destination?

Hyderabad, July 3 (NationPress) The Chief Minister of Telangana, A Revanth Reddy, announced on Thursday that the state government is committed to positioning Hyderabad as a leading global investment hub and transforming Telangana into a manufacturing powerhouse.

He revealed that the ambitious plans to establish Bharat Future City on a sprawling 30,000 acres in Maheshwaram, located in the Rangareddy district near Hyderabad, are integral to making the city competitive with leading global metropolises.

The Chief Minister made these remarks during the launch of Malabar Gold’s Gems and Jewellery manufacturing facility at IP General Park in Maheshwaram.

Bharat Future City is envisioned as the fourth city in the Hyderabad region. He noted the historical progression where the Qutub Shahi dynasty laid the groundwork for Hyderabad, followed by the Nizams who expanded Hyderabad and Secunderabad, and earlier chief ministers N. Chandrababu Naidu and Y. S. Rajasekhara Reddy who developed Cyberabad as the third city.

“The Congress government is now spearheading the development of Bharat Future City as the fourth city, aiming to create an exceptional urban space that can stand shoulder to shoulder with international cities,” he stated.

Reddy expressed confidence that Hyderabad possesses the potential and its citizens have the skills to rival cities like New York, Singapore, and Tokyo.

He announced the upcoming release of the “TelanganaRising 2047” vision document on December 9, aimed at preparing Telangana for global competition, with a focus on the state’s requirements over the next century.

Consultants from Singapore and other nations are actively engaged in strategizing for the Future City, as mentioned by the Chief Minister.

Revanth Reddy emphasized that the primary goal of the state government is not merely attracting investments but also ensuring that investors achieve substantial profits. He promised extensive support and incentives to investors, affirming that Telangana is a business-friendly state.

Furthermore, he noted that his administration is continuing the industrial and investment policies established by previous governments over the past three decades.

Industry Minister D. Sridhar Babu indicated that Telangana’s secondary sector, including manufacturing and construction, experienced a growth rate of 9.6% in the last two years, surpassing the national growth rate of 8.3%.

The Gross Value Added (GVA) in the state rose from Rs. 1.34 lakh crore to Rs. 1.46 lakh crore, with an annual growth rate of 9%.

He highlighted that manufacturing accounts for 19.5% of Telangana’s Gross State Domestic Product (GSDP) and mentioned that the government is enhancing the manufacturing ecosystem.

Manufacturing exports from Telangana exceeded Rs. 1.2 lakh crore last year.

Sridhar Babu also claimed that Telangana’s single-window system for industrial clearances has set a national precedent, with 4,200 proposals processed through this system, 98% of which were approved within 15 days.

The government is now looking to integrate Artificial Intelligence into the single-window system, according to the minister.