CM Revanth Reddy to head to Davos again from January 21; last Davos trip claims still on paper

The Chief Minister is scheduled to attend the World Economic Forum (WEF) in Davos from January 21 to 23. The State government has sanctioned Rs 12.30 crore to cover the expenses for participating in this prestigious annual event.

Hyderabad: With Chief Minister A Revanth Reddy gearing up for his second visit to Davos to participate in the 55th annual meeting of the World Economic Forum (WEF) , questions are being raised over the status of agreements signed by the State government with different corporate companies during the previous edition of the WEF.

The Chief Minister is expected to visit Davos and participate in the WEF from January 21 to 23. The State government has already approved Rs.12.30 crore towards meeting the expenditure for participating in the annual meeting.

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Andhra Pradesh Chief Minister N Chandrababu Naidu is also flying to Davos to participate in the WEF.

During Revanth Reddy’s last visit to Davos in 2024, the State government had signed agreements reportedly worth Rs.40,232 crore with different entities.

Though the State government boasted about drawing huge investments, there has been no official announcement over the status of these agreements. Generally, it takes time for the agreements to be finalized, but considering the fact that one year has passed, there are speculations over the status of these agreements.

Pavan Kumar, a X user said two big companies Adani Group – Rs.12,400 crore and Godi India Private Limited with Rs.8000 crore had made these investment announcements during last Davos edition.

“Have these investments been grounded and what is the status of these companies and others? Whether any lands have been allocated,” he asked on X.

More interestingly, on December 6, Deputy Chief Minister Mallu Bhatti Vikramarka had said the Memorandum of Understandings (MoU) signed by the State government with different companies at Davos were only Expression of Interests.

“Just because MoUs were signed, nothing will be offered to a company. The agreement is not a binding factor on the government,” he had said, adding that open tenders would be called and whichever companies’ files bids as per the State benefits, would get the project.

Among all the agreements signed by the State government, the deals with Adani Group drew a lot of attention as Congress MP Rahul Gandhi has been opposing the Adani Group and demanding a probe into the alleged irregularities committed by the group.

During the last edition, the State government had signed four agreements with Adani Group worth Rs.12,400 crore investments in Telangana. Since then the opposition parties have been demanding the Congress government to cancel agreements with Adani Group.

Participating in a national television news channel prorgamme in New Delhi on December 13, the Chief Minister defended the Adani Group’s investments and even claimed that Congress MP Rahul Gandhi was not against Adani and Ambani investments.

Rahul Gandhi wants a fair level playing field for all competitors and no out of the way allocations to Adani Group, he had said, referring to the Mumbai Airport being handed over to Adani Group from GVK Group.

“I am not extending any out of the way favour to Adani or any other person,” Revanth Reddy had maintained.