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The Telangana government is holding a two-day virtual conference ‘Make in Telangana’ on August 27 and 28. The conference will be addressed by CEOs of leading Indian and global companies, including IT, pharma, textiles, electric vehicles, food processing, aerospace and defence, retail and infrastructure.
Despite the Telangana government struggling to tackle the growing intensity of Covid-19, the state continues to attract huge investments in various industrial, infrastructure and information technology sectors amid the health crisis. State industry department’s official figures indicate that in the last month alone, projects worth around Rs 4,500 crore were grounded in Telangana, particularly in and around Hyderabad. “We continue to receive investment proposals worth hundreds of crores of rupees, which is a good sign for the state’s economy in the post-Covid-19 scenario,” a senior official in the department familiar with the development said.
The Telangana government is holding a two-day virtual conference “Make in Telangana” on August 27 and 28 with the theme “Invest in Telangana: Opportunities in Post Covid-19,” with an objective to explore investment opportunities and new partnerships. The conference will be addressed by CEOs of leading Indian and global companies including IT, pharma, textiles, electric vehicles, food processing, aerospace and defence, retail and infrastructure, the official said. On August 11, Medtronic, an Ireland-based medical equipment giant, announced its plan to scale up and expanding its Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad at a cost of Rs 1200 crore. “It is going to be the largest global R&D centre outside of the United States for Medtronic generating over 1000 jobs,” state industries minister K T Rama Rao said. “It will be a big boost to Telangana and it will cement Hyderabad’s position as the medical devices hub in India,” he said.
On August 13, Telangana received yet another major investment proposal from Medha Servo Drives Pvt. Ltd to set up Medha Rail Coach Factory, India’s largest private sector rail coach factory at an investment of Rs 1000 crore with an employment potential of 2,200 (1000 direct and 1200 indirect) in the state.KTR took part in the ground-breaking ceremony of Medha Rail Coach Factory in Kondakal village of Shankarpally, Ranga Reddy district in the presence of his cabinet colleagues T Harish Rao and P Sabitha Indra Reddy.
“The facility will have a capacity of manufacturing coaches, locomotives, intercity trainsets, metro trains, monorail, etc. Production capacity is planned for 500 coaches (of various types) and 50 locomotives per year,” the industries minister said. Similarly, on August 17, KTR laid the foundation stone for an advanced polyester film manufacturing facility at Shahabad in Ranga Reddy district, to be set up by Ester Industries Ltd, a leading manufacturer of Polyester Films at an investment of Rs 1,350 crore. It will provide jobs to about 800 people.
The minister also laid the foundation for two other projects in the last one month: Rs 500 crore smart data centre of the National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India at Nanakramguda and a new Research and Technology Centre of Sai Lifesciences Limited, a growing contract research organisation, at an investment of Rs 400 crore at Genome Valley. The industries minister said post-Covid-19, there is immense opportunity for the state to attract investments from other parts of the world, and the infrastructure development and construction sector would play a major role in it.
