HYDERABAD: Chief Minister A. Revanth Reddy concluded his US tour with a notable achievement, securing over Rs 31,500 crore in investments, which are expected to create more than 30,750 new jobs. After the US visit, the chief minister began a tour of South Korea, according to the Chief Minister's Office (CMO).
The delegation, which included IT & Industries Minister D. Sridhar Babu, Chief Secretary Santhi Kumari, and other officials, held over 50 business meetings and three roundtable conferences in New York, Washington DC, Dallas, and California. They garnered support for major initiatives such as the development of a Future City, AI City, and the rejuvenation of the Musi River. They also promoted Telangana as a viable alternative to China for American businesses.
The delegation engaged in discussions on business, AI, and semiconductors, and met with CEOs, founders, and business groups to invite them to consider Hyderabad and Telangana for their future ventures.
Significant new deals were announced in various sectors, including IT, GCC, life sciences, pharma, data centers, AI, cloud computing, electric vehicles, green energy, FMCG, and manufacturing. Notable agreements include:
- IT Sector: Deals with Charles Schwab, Trinet, Cognizant, and Arcesium, showcasing Hyderabad's strength in IT and GCC.
- Pharma and Life Sciences: Investments from nearly a dozen American companies.
- R&D: An MoU with Corning on skilling and flow chemistry, and Amgen’s plan to set up a new R&D tech facility in Hyderabad.
- GCC and Expansion: Zoetis Inc. will establish a new GCC, with significant expansions by HCA and Thermo Fisher to enhance Telangana’s life sciences sector.
- Data Centers and Manufacturing: Amazon will significantly expand its data center presence in Hyderabad, and Aurum Equity will set up an AI-powered green data center. Monarch Tractors will support Telangana's high-end manufacturing goals.
Before leaving for South Korea, Revanth Reddy remarked, “The trip has opened many opportunities for accelerated partnerships, expanded horizons, and demonstrated our potential for new ventures. Our vision for AI and the Future City has received substantial interest from corporations, startups, business leaders, and tech associations.”
Minister Sridhar Babu added, “We have exceeded our ambitious goals, creating significant excitement in the American business community. This will have a substantial impact on investments and job creation. The future is promising.”
Number Crunch:
- 50+ Business meetings
- 3 Roundtable conferences
- Rs 31,500 crore Secured investments
- 30,750 Potential new jobs