Hyderabad: According to Jayesh Ranjan, the Principal Secretary of IT and Industries, Telangana has successfully attracted investments from companies in 18 different countries. However, the size and number of investments from the United States alone are almost eight times greater than those from the remaining 17 countries combined.
During the launch of the Hyderabad chapter of the Indian American International Chamber of Commerce (IAICC) on Monday, it was noted that Telangana and the United States have maintained relations for decades. In fact, while there are approximately 200 US consulates located around the world, the consulate in Hyderabad issues the highest number of student visas, as stated during the event.
Over the past eight years since Telangana’s establishment, an increasing number of American companies have invested in Hyderabad. According to an industry representative, companies from 18 different countries have invested in the state, with the number and size of investments from American companies being nearly eight times greater than the combined investments from the remaining 17 countries. Furthermore, the representative noted that Telangana is now receiving at least three or four new investment proposals on a weekly basis, indicating a great situation for the state. The representative dubbed Hyderabad as an attractive investment destination and stated that the current investment numbers only scratch the surface, with further opportunities for deeper investments.
Preferred sectors for investment in Hyderabad include technology, defence, aerospace, life sciences, and logistics. According to an industry representative, companies investing in Hyderabad have received more benefits than expected, resulting in the promotion of the state in the United States. The representative also noted that the state has a strong reputation in the US, and that IT Minister KT Rama Rao frequently travels to the US to promote the state’s interests. Many significant investment deals are being discussed, with a positive response, the representative said. Furthermore, the representative stated that inbound investments create new job opportunities, and the state is also working to create opportunities for Hyderabad-based companies to establish operations in the US.
“The presence of PSUs and R&D units, as well as numerous scientists, make Hyderabad an important defence and aerospace hub. However, the volume of orders from the US is commensurate with the city’s capabilities,” said the Principal Secretary. Telangana now has the highest number of FDA-approved labs, with the life sciences sector thriving through research and development collaborations. T-Hub, T-Works, and other facilities in the city are gaining recognition, he added. The first chairman of the IAICC’s Hyderabad Chapter is Suresh Rayudu Chitturi, VP and Managing Director of Srinivasa Farms.