Why is Telangana CM Concerned About US Tariffs and H-1B Visa Fee Increases?

Synopsis
Key Takeaways
- Concerns over US tariffs and H-1B visa fee hikes expressed by CM A. Revanth Reddy.
- Importance of the Telangana diaspora in US-India relations.
- Ambitious goals set for Telangana's economic growth.
- Major projects underway to enhance Hyderabad's infrastructure.
- Call for US industry partnership in Telangana's future development.
Hyderabad, Oct 9 (NationPress) Telangana Chief Minister A. Revanth Reddy on Thursday raised alarms regarding the recent decisions by the United States to hike tariffs on Indian goods and increase the H-1B visa fee.
He shared his concerns during a discussion with an American delegation that included high-ranking US business leaders, think tank members, and philanthropic representatives.
This delegation, focused on strengthening bilateral ties, investment opportunities, and policy discussions between India and the US, met with the Chief Minister and IT, Industries Minister Duddilla Sridhar Babu at the Dr. B.R. Ambedkar Telangana State Secretariat.
The Chief Minister emphasized the contributions of the Telangana diaspora to America's advancement, stating that the recent H-1B visa fee hike could negatively affect economies on both sides and foster unrest and misunderstanding between the nations.
According to the Chief Minister's Office (CMO), he also highlighted the concerns stemming from sudden policy changes like the recent tariff increases.
He pointed out that previous state governments maintained a consistent approach to developmental policy initiatives, which has facilitated Hyderabad's growth into a global city. He stressed that despite political and ideological differences, the government adhered to effective practices from the past without deviation.
Discussing his vision for Telangana Rising 2047, the Chief Minister outlined the government's goal to achieve a $1 trillion economy by 2034 and $3 trillion by 2047. He mentioned that Hyderabad is now in competition with New York, Tokyo, and South Korea in terms of enhancing infrastructure and manufacturing capabilities.
"We are initiating several transformative projects for Hyderabad and my state, including the Regional Ring Road, Regional Ring Rail, manufacturing zones, Bharat Future City, Dry Port, and dedicated connectivity for road and rail with the sea port in the neighboring Andhra Pradesh, along with the Musi Rejuvenation and the expansion of Hyderabad Metro Rail.
The Chief Minister added that the Musi rejuvenation project will unlock new opportunities for enhancing Telangana’s economy. With riverfront development, we aim to unveil prospects associated with a night economy, he stated. “Hyderabad possesses the heritage and culture necessary to cultivate a remarkable riverfront.”
He reiterated the government's ambition to position Telangana as the preferred option for the 'China+1' strategy. "I seek the support of US industry partners for the development of the Bharat Future City. I plan to invite all Fortune 500 companies to establish a presence in Future City soon," he said.
Minister Sridhar Babu presented the government's grand ambitions to establish the state as a skill capital, particularly in Artificial Intelligence (AI), by launching an AI University in Hyderabad. Building upon the city's growth as a hub for Global Capacity Centres (GCCs), plans are underway to encourage GCCs to evolve into value centers, thus exporting services and developing products.
The Minister highlighted that companies from Hyderabad contributed significantly to the global supply of Covid vaccines, underscoring efforts to further support indigenous enterprises.
Participants of the delegation included Walter Russell Mead, Distinguished Fellow at the Hudson Institute and Columnist for the Wall Street Journal, Mark Rosenblatt, founder and CEO of Rationalwave Capital Partners, Harlan Crow, Chairman of Crow Holdings, Ravenel Curry, founder and Co-CIO of Eagle Capital Management, and Henry Billingsley, Partner at Billingsley Company.