The new center in Hyderabad will focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions.
“An official state delegation led by me completed USA and South Korea tour and returned to Hyderabad today. Met global businessmen and corporate leaders in America and Korea. All of them are positive to invest in Telangana particularly Hyderabad. During the USA and South Korea visit, the state already attracted a record investments of Rs 31,500 crore which will create more than 30,750 jobs. Government will enter some more agreements soon. An investor task force will be established soon to hold regular meetings for investments," the CM said.
"The ‘ Future State’ of Telangana covered with three rings . The first one is the core urban area of Hyderabad and the second is a semi-urban area where the manufacturing facility will be developed. The third ring is rural Telangana outside the regional ring road. This area will be developed as the best villages in Asia with all modern facilities,” said Reddy after inaugurating Cognizant's expansion.
He also said that his government’s ambition was to transform Telangana into a trillion dollar economy in the next 10 years.
The development of Future City will prove the government’s sincerity, he said, adding that his government is not competing with AP, Karnataka or others.
“We are competing only with the world. There is no city like Hyderabad anywhere in the neighboring states. Hence, we are not competing with the neighboring states. Hyderabad city is the best destination for investments. It is the right platform for industrialists. Inviting all to invest in Telangana and the government is ready to provide all required facilities,” he said.
Korean companies evince interest in Telangana
Similar overwhelming response was also received from the South Korean companies during the Chief Minister’s last two days visit to the country. The Korean companies entered agreements to invest Rs 4500 crore. With this, Telangana registered a record investment of Rs.36,000 crores from the two countries alone. The government has entered agreements with of 25 companies which also helped to create thousands of job opportunities for youth in the state.
During the two-day visit to South Korea, the Chief Minister's team mainly focused on automotive, electronics, semiconductor, energy and textile sectors in which South Korea made its own mark in the world.
The CM showcased Telangana as the most attractive investment hub by explaining the advantages to the companies and invited them to join hands with the state government. Revanth Reddy assured that the government will provide adequate support to the companies which come forward to invest in the state.
Hyundai Motors signed an agreement to set up a mega automotive testing center in Telangana. The company announced that it will set up their company's Research and Development center in Hyderabad and chose it as a global hub.
The company's new facility of manufacturing the testing vehicles will be set up in Telangana. Youngone Company, which already partnered to set up textile manufacturing industries in Warangal Mega Textile Park, announced that it will open a fashion city in Hyderabad.
The Chief Minister assured that 10 acres of land will be allocated near the airport. The CM handed over the letter of consent on behalf of the government to the Youngone Corporation chairman. South Korea is also popular in the cosmetic industry.
The Chief Minister held a meeting with the management of the popular cosmetic industries.