KTR’s UK, US tours end; 42K jobs to be created in Telangana

Hyderabad: Telangana IT, Industries minister K T Rama Rao’s (KTR) visit to the United Kingdom and the United States concluded on Thursday.

During the two-week trip, he participated in approximately 80 business meetings, attended 5 sector-specific roundtable sessions, and spoke at two conferences. Major investment announcements were made in a variety of industries, resulting in the creation of around 42,000 jobs in Telangana.

The proposed investments and prospective collaborations will create around 42,000 direct jobs and each job has the potential to create 3 to 4 indirect jobs, the state government said.

The global companies which announced their investment and expansion plans include Warner Bros. Disney, the global media power house; Medtronic, a global leader in healthcare technology; State Street, the world’s largest asset management company; Bain Capital-owned VXI Global Solutions; and the London Stock Exchange Group.

Other big announcements for Telangana are from DAZN, a global leader in sports live streaming, Technip FMC, a French American Oil and Gas giant; AlliantGroup, a top global consulting and financial firm; StemCures, a specialist in stem cell therapy; Mondee, The world’s largest B2B2C Travel Marketplace and Technology Innovation Company, ZapCom Group, a product engineering and solutions company, a press note informed.

KTR attended two major conferences in addition to attending business meetings. On May 12, the minister visited the ‘Ideas for India’ conference in London and talked to a worldwide audience about the success of the Telangana Model and the importance of India adopting the Telangana Model.

The Minister delivered the keynote address at the American Society of Civil Engineers’ World Environmental and Water Resources Congress in Henderson, Nevada on May 22, 2023, and highlighted the success stories of Telangana’s flagship water projects, Kaleshwaram and Mission Bhagiratha. The civil engineers society named the Kaleshwaram Project the ‘Enduring Symbol of Engineering Progress and Partnership’.

During his UK and US visits, the minister spoke at five round tables on a variety of topics. KTR spoke at a roundtable hosted by India’s High Commissioner in London on Telangana’s achievements over the last nine years, the state’s rapid economic growth, the Telangana government’s progressive industrial policies, and Hyderabad’s flourishing innovation ecosystem, the press note further stated.

At the investor roundtable meeting in New York, jointly hosted by the Consulate General of India in New York and the US India Strategic Partnership Forum, KTR conveyed that Telangana is ready to be the ideal gateway for investors choosing India as their destination.

At the aerospace and defense roundtable led by the minister, he showcased the ‘spectacular growth’ of the Aerospace sector and private sector defense investments in Telangana in the past nine years making Hyderabad the most preferred investment destination for US Aerospace and Defense corporations. The Minister also participated in roundtables organised by the American Health Association (AHA) and the Centre for Strategic and International Studies (CSIS), it further said.

The highlight of the tour is that the Telangana government’s vision to spread IT across Telangana has received a big boost and several companies have come forward to invest in Tier-II cities of Telangana following the meeting with the Minister.

KTR had a meeting with NRI CEOs of more than 30 companies and emphasized the growth of IT in Telangana’s Tier-II cities and explained the measures taken by the state government and encouraged the IT companies to start their operations in Tier-II cities.

The major fillip for the expansion of IT across the state came from Sonata Software, a leading modernization engineering company, which decided to expand to Nalgonda by adding 200 jobs in the soon-to-be-opened Nalgonda IT Tower and 3M-ECLAT’s announcement to start an operations centre in Karimnagar. Also, Rite Software has evinced interest to expand its operations to Warangal in the near future, the state government said.

KTR took a sentimental journey down memory lane, recalling his previous successful business trip to the United States in 2015. The Minister was just as passionate about holding meetings and soliciting investments on his most recent trip as he was in 2015. This zeal and dedication highlight the Minister’s outstanding successes and endeavours across many areas.

As the state prepares to commemorate the decennial of Telangana state creation, the investments secured and the astonishing 42,000 jobs they will generate serve as a tribute to the accomplishments made under the visionary leadership of Chief Minister K. Chandrashekar Rao.