Telangana nets investments worth Rs 4,200 crore at World Economic Forum
Hyderabad: Telangana signed off the World Economic Forum (WEF) in style having attracted investments to the tune of Rs 4,200 crore across sectors, including mobility, pharma, life sciences, BFSI and other segments. “An extremely productive trip comes to an end! It’s a fruitful and fulfilling 10 day trip to UK & @wef Davos,” Industries and […]
Hyderabad: Telangana signed off the World Economic Forum (WEF) in style having attracted investments to the tune of Rs 4,200 crore across sectors, including mobility, pharma, life sciences, BFSI and other segments.
“An extremely productive trip comes to an end! It’s a fruitful and fulfilling 10 day trip to UK & @wef Davos,” Industries and IT Minister K T Rama Rao said in a tweet. During this time, Team Telangana had 45 business meetings, four roundtables and four panel discussions. “A big thanks to my team and Telangana diaspora for making it a huge success,” the Minister said.
On the last day of the campaign of the delegation led by Rama Rao, Telangana got ZF, a German automotive major, announcing expansion in Hyderabad. It also agreed to be a big part of the Telangana Mobility Valley. The German auto parts maker’s newest facility in Hyderabad is set to be inaugurated on June 1. It was constructed at Nanakramguda at a cost of Rs 322 crore. The proposed facility will create job opportunities for about 3,000 people. Hyderabad will be ZF’s largest facility among the 100 locations and 18 major development centres across the globe.
ZF is the second player to announce plans of being part of the Telangana Mobility Cluster. Earlier, automobile major Hyundai had announced Rs 1,400 crore investment in Hyderabad. Apart from investing, Hyundai has also assured to be a partner of the Telangana State in the Mobility Valley. “The investment is a testimony for Hyderabad in the growing Mobility space,” Rama Rao said.
During the 10-day trip to UK and WEF Davos, the Telangana delegation attended a series of meetings, interacted with top executives of global corporations and participated in panel discussions. The primary aim of the trip was to showcase Telangana as an investment destination for global companies and bring investments to the State, thereby creating more employment opportunities for the youth of the State.
After attending back-to-back meetings with various business leaders in the UK, Rama Rao reached Davos to attend the WEF. Several companies came forward to invest in Telangana following their interactions with Rama Rao. The attractive Telangana Pavilion at the WEF, set up with the slogan ‘India welcomes the world, Telangana First Stop,’ stood out from the rest.
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