Revanth Reddy promotes Telangana’s investment potential in US | World News

Addressing a luncheon with top US CEOs and business leaders during an official roundtable organised by the Consulate General of India in New York, Revanth Reddy said Telangana is currently a powerhouse in software, life sciences and pharmaceuticals, with a strong base in aerospace, defence, electronics and other sectors.

“We have great infrastructure, great talent and we offer the best policy support from our government to investors. Hyderabad, a city built over 425 years ago by the Nizams, is, interestingly, almost the same age as the United States of America,” the prime minister said.

According to an official statement from the Prime Minister’s office, the meeting was attended by more than 20 chairmen and CEOs representing well-known companies from various sectors, including pharmaceuticals, information technology, technology, electric vehicles, Gulf states, biotechnology and shipbuilding.

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Revanth Reddy, who went to the US to attract investments, shared how his government has initiated several ambitious projects that offer investment opportunities in the future and promise exponential growth.

“We are creating a new industrial policy that will be in line with our dreams. We will make it easy for you to start a new business and expand your existing business in Telangana. Telangana means business. I am serious,” he said.

Minister of State for Information Technology D. Sridhar Babu elaborated on Telangana’s existing strengths across various industrial sectors and outlined strategies that would make the state a viable alternative to China in manufacturing and develop Hyderabad into one of the top 10 cities in the world.

The industry leaders spoke about their experience of investing globally and doing business in India and their expectations from Telangana and Hyderabad. They also explained their current investment plans in the coming days, an official statement said.

Earlier in the day, the Prime Minister and the IT Minister held talks with Trigyn Technologies, a global provider of digital and intelligence solutions specialising in data analytics and artificial intelligence start-ups.

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An official statement said Trigyn, which has a 100-person office in Hyderabad, has proposed to set up an AI innovation and delivery centre in the state capital. The company plans to hire, train and scale up operations over the next three years to employ over 1,000 people.

Similarly, another technology firm Arcesium, a leading provider of technology solutions to asset managers, has announced major plans to expand its manufacturing capacity in Hyderabad. The company, led by its CEO Gaurav Suri, met with Revanth Reddy and Sridhar Babu in the morning.

The statement said Arcesium, which was founded as an independent entity backed by DE Shaw Group and Blackstone Alternative Asset Management (BAAM), provides advanced data, operations and analytics platforms used by financial institutions, including hedge funds, banks, institutional asset managers and private equity firms.

“As part of the expansion, the company will hire 500 highly skilled technology workers in Hyderabad over the next two years,” the statement said.

Similarly, an official delegation from Telangana also held talks with Swachh Bio, a lignocellulosic biofuel company, which agreed to invest ₹1,000 crore in Telangana for setting up a 2G bioethanol plant that could create 500 jobs.

Swachh Bio CEO Praveen Paripati met the New York Chief Minister and held discussions on the issue.