Davos Investment Agreements Mark Major Achievement for Telangana Government: Revanth Reddy
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Synopsis
Chief Minister A. Revanth Reddy highlighted that the investment secured during the World Economic Forum in Davos represents the biggest achievement of his government in 14 months, with a total of Rs.1.8 lakh crore expected to create significant job opportunities for the youth.
Key Takeaways
- Rs.1.8 lakh crore investment secured.
- Agreements with multiple companies.
- 49,500 jobs expected to be created.
- Continued focus on skill development.
- Investment growth is a priority for Telangana.
Hyderabad, Jan 28 (NationPress) Chief Minister A. Revanth Reddy of Telangana proclaimed on Tuesday that the investments secured by the state during the recent World Economic Forum event in Davos stand as the most significant achievement of his administration in the past 14 months.
During a press briefing, he revealed that the state government formalized agreements with several corporations, which are projected to yield an investment of Rs.1.8 lakh crore.
This capital influx will not only facilitate the initiation or growth of the respective companies but also generate employment opportunities for the youth.
The Chief Minister emphasized that the conspiracy engineered by certain individuals against Telangana, aimed at sowing doubt, has been successfully countered as internationally recognized companies and investors have reaffirmed their faith in the government.
Without specifying names, he indicated that some individuals had engaged in deceptive propaganda using ill-gotten wealth to undermine the Telangana economy.
The Chief Minister affirmed that the flow of investments into Telangana and Hyderabad is an ongoing endeavor. He highlighted that despite political disagreements, unity is essential when it comes to the development of the state.
Revanth Reddy stated that his administration has continued the beneficial policies of previous governments while also introducing further incentives to draw in investments.
He assured the companies that signed the agreements with the state government that the necessary land would be allocated and all essential support provided. He reiterated his commitment to transforming Telangana into a one trillion-dollar economy.
He also pointed to the memorandum of understanding between Telangana Young India Skill University and Singapore’s ITE, asserting that this collaboration would significantly enhance the skills of youth in Telangana.
Minister for Information Technology and Industry D. Sridhar Babu, who accompanied the Chief Minister on their visit to Singapore and Davos, mentioned that last year, the state government attracted Rs 40,000 crore in investments during the WEF annual meeting.
The minister claimed that the state government's pro-business strategies resulted in a fourfold increase in investments this year, which is expected to create 49,500 jobs in Telangana.
Sridhar Babu announced that an agreement was reached with the Singapore government focused on skill development, expressing confidence that this would lead to more employment opportunities for the youth and help position Hyderabad as a skill development hub.
He stated that the Skill University was established to meet the industry's skill requirements.
“Our focus is on both attracting investments and enhancing skill development,” he remarked.
Sridhar Babu revealed that CapitaLand Group plans to establish a skill center with an investment of Rs 450 crore.
