Hyderabad: Telangana Chief Minister A Revanth Reddy on Thursday, October 9, expressed concerns over the United States’ recent decision to increase tariffs on Indian goods and raise the H-1B visa fee.
Speaking during a meeting with an American delegation comprising senior US business leaders, think tank representatives, and philanthropic figures, Reddy underlined the potential economic and diplomatic impact of such measures, a statement from the CMO said.
The delegation, focused on bilateral relations, investment, and policy exchange between India and the US, met Reddy and IT and Industries Minister D Sridhar Babu in Hyderabad.
Emphasising the importance of Telangana’s diaspora in the US, Reddy said the hike in H-1B visa fees could have “an adverse” impact on both economies and lead to “unrest and misunderstandings” between the nations. He also highlighted apprehensions arising from decisions such as the recent tariff increases.
Explaining his vision for ‘Telangana Rising 2047’, the CM said the state aims to become a USD 1 trillion economy by 2034 and USD 3 trillion by 2047.
“We are undertaking several game-changer projects for Hyderabad and Telangana—Regional Ring Road, Regional Ring Rail, manufacturing zones, Bharat Future City, Dry Port, dedicated road and rail connectivity with the seaport in neighbouring Andhra Pradesh, Musi rejuvenation, and the expansion of Hyderabad Metro Rail,” Reddy said.
He stressed the government’s intention to position Telangana as the preferred choice for the ‘China+1’ strategy. “I request the support of US industry partners in developing Bharat Future City. In the near future, I would like to invite all Fortune 500 companies to have a presence in Future City,” he added.
Sridhar Babu outlined plans to establish Telangana as a skill capital, particularly in artificial intelligence, with the setting up of an AI University in Hyderabad.
“Building on the city’s emergence as a hub for Global Capability Centres (GCCs), we plan to encourage GCCs to become value centres, thereby exporting services and building products,” he said.
The delegation included Prof Walter Russell Mead, Distinguished Fellow at the Hudson Institute and Wall Street Journal columnist; Mark Rosenblatt, Founder & CEO of Rationalwave Capital Partners; Harlan Crow, Chairman of Crow Holdings; Ravenel Curry, Founder and Co-CIO of Eagle Capital Management; and Henry Billingsley, Partner at Billingsley Company, the release said.
