Telangana has good reputation in US, says IT Principal Secretary
Telangana has been successful in getting investments from companies spread across 18 countries
Hyderabad: Telangana has been successful in getting investments from companies spread across 18 countries. The number and size of the investments coming from the US are almost eight times compared to those from the remaining 17 countries together, said IT and Industries Principal Secretary Jayesh Ranjan.
Speaking at the launch of industry body Indian American International Chamber of Commerce’s (IAICC) Hyderabad chapter on Monday, he said relations between Telangana and the US are decades old. While there are about 200 US Consulates in the world, the highest number of student visas is issued by the one in Hyderabad, he said.
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More American companies have started investing in Hyderabad, particularly in the last eight years since Telangana came into being. “We have received investments from companies belonging to 18 countries. The number and size of investments of American companies are about eight times more than what companies from the remaining 17 countries together are bringing. It is not an exaggeration to say at least three or four new investment proposals come on a weekly basis. Many existing companies, too, want to ramp up. It is a great situation to be in,” he said.
Dubbing Hyderabad as an attractive investment destination, he said: “There is an overwhelming response. Even though the investment numbers seem large, this is just the surface. We can deepen this further,” he said.
Technology, defence, aerospace, life science and logistics are the preferred sectors. “The companies which chose Hyderabad got much more than what they expected. They are promoting us and speaking about TS in the US. Our reputation in the US is strong. IT Minister KT Rama Rao travels to the US to promote the State’s interests, he said.
Speaking about many big deals being discussed, he said the response was great. “Inbound investments create new jobs. We are also working to create opportunities for Hyderabad-based companies to set up operations in the US,” he said.
“Hyderabad qualifies as an important defence and aerospace hub due to the presence of PSUs and R&D units here. Many scientists are based in the city. However, the orders from the US are proportionate to the capabilities here,” he said.
Telangana now has the highest number of FDA-approved labs. “The life sciences sector is doing well. Exchanges are happening in research and development. The collaboration proved vital during the pandemic times. T-Hub, T-Works and other facilities are talked about outside,” he said.
Suresh Rayudu Chitturi, vice president and managing director of Srinivasa Farms, has been chosen as the first chairman of IAICC’s Hyderabad Chapter.
