Telangana CM Revanth Reddy Aims for $1 Trillion Economy, Woos US Investors

Our aim is to make Telangana $1-trillion economy in a decade: Revanth Reddy

Telangana Chief Minister Revanth Reddy said his government aims to make the state a $1-trillion (about ₹80 lakh crore) economy over the next one decade. Addressing a gathering of IT Serve Alliance at Dallas, he made a strong pitch to the members to actively consider investments in Hyderabad. "We have built Hyderabad, Secunderabad and Cyberabad over the last few decades. Now, let us all join to build a world-class fourth city, the Future City. When you invest in Hyderabad now, you are clearly investing into the future," he said. The Chief Minister met Shantanu Narayen, CEO of Adobe Systems at Palo Alto on Friday. "As a key influencer in the Valley, Narayen was highly receptive and proactively agreed to support our vision for Hyderabad 4.0, the Future City, the Young India Skill University and the AI City," a CMO statement said on Friday. Amgen centre in Hyderabad Amgen, a Nasdaq-listed biotech company, has announced plans to open a technology and innovation centre in Hyderabad. The centre will accelerate the company's digital capabilities across its centres to further advance its pipeline of medicines. Amgen India will be located in the IT hub of Madhapur. The six-floor facility, which can accommodate 3,000 employees, will be operational in the fourth quarter of this calendar year. "They decided to locate the centre in Hyderabad for its talent across medicine, life sciences and data sciences, and the rapidly advancing field of artificial intelligence (AI)," a statement from the Chief Minister's Office said here on Friday. "At a time when a quickly aging global population needs more innovation, the convergence of biotechnology and technology is enabling Amgen to work with greater speed, confidence, and efficiency -- a milestone for which we have been preparing for over a decade," David M Reese, Executive Vice-President and Chief Technology Officer at Amgen, said. Amgen India will initially build and accelerate new technology solutions and digital capabilities at scale, that will enhance efficiencies across the enterprise. The site will offer roles that strengthen key areas of Amgen's business, including AI, data science, life science and other additional global capabilities over time. Som Chattopadhyay has been appointed national executive to run the company's operations in India. Future State Meanwhile, Revanth Reddy announced that the State would have a tagline 'The Future State' Addressing the CEOs of Tech Unicorns at an AI business roundtable hosted by the Indian Consulate General at Palo Alto on Thursday, he said the State deserved such a tagline considering the potential for growth. Citing the examples of some US cities and States, he said a tagline would help promote brand Telangana. Sridhar Babu appealed to the CEOs to explore investment opportunities in the city, which has emerged as a major IT destination in India. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on August 9, 2024

Telangana is a 'Future State', says CM Reddy in US and seeks investments

Most of the leading CEOs and founders of Artificial Intelligence unicorns expressed desire to visit Hyderabad and explore options to invest and build capacities in the city in the near future, the release said. Separately, addressing a gathering of IT Serve Alliance in Dallas, the largest association of IT Services organisations based in the USA, Chief Minister Reddy and minister Babu made a strong pitch to the members to actively consider investments in Hyderabad and Telangana, and partner in any of the plethora of projects and engagements being created for the diaspora.

"Let us all join to making a world-class fourth city, the Future City", says Telangana CM A Revanth Reddy at at Dallas IT Serve Alliance Meet

Addressing the gathering, CM Revanth Reddy emphasized the significant progress Hyderabad, Secunderabad, and Cyberabad have made over the years, transforming into global tech hubs. Reddy said, "We have built Hyderabad, Secunderabad and Cyberabad over the years. Now, let us all join in making a world-class fourth city, the Future City. When you invest in Hyderabad now, you are investing into the future." According to a statement, the IT Serve Alliance, recognized as the largest association of IT services organizations based in the USA, has long been a nexus for Indian-origin professionals leading the global tech sector. This year's Dallas meet provided a critical opportunity for Telangana to tap into this vast network, seeking both financial investments and intellectual partnerships. The alliance, often regarded as the "representative body of leading IT companies with aligned interests across the United States," invited the Chief Minister to their annual flagship event in Las Vegas later this year, a stage that has previously featured several global leaders, including former U.S. Presidents Bill Clinton and George W Bush, former Secretary of State Hillary Clinton, and influential figures like Steve Forbes. Telangana IT Minister Sridhar Babu further detailed the government's strategic initiatives, which include the Future City, an extension of the Hyderabad Metro, and the River Musi rejuvenation project. These projects, he explained, are part of a broader strategy to reimagine Hyderabad over the next decade. "It will be a hub for future tech like AI, and with Net Zero impact design, it will be an urban construct of truly global standards and processes", Babu stated. He also highlighted the balanced approach of the Telangana government, which is pushing for service sector growth in Tier-II towns while simultaneously boosting manufacturing capabilities. This dual focus, Babu noted, is essential for achieving sustainable economic growth across the state. The Telangana delegation's pitch was underscored by an ambitious economic goal set by CM Revanth Reddy: transforming Telangana into a USD 1 trillion economy within the next decade. Minister Babu called on the diaspora to be active partners in this transformative journey, leveraging their expertise and resources to help achieve this vision. "Chief Minister Revanth Reddy has declared a vision to transform Telangana into a US $1 trillion within a decade. Let us all work to achieve it," Sridhar Babu added. (ANI)

Telangana CM Revanth Reddy proclaims state as 'The Future State' at AI Leaders Summit

The event gathered CEOs and founders of leading tech unicorns in the field of artificial intelligence, underscoring the state's strategic emphasis on becoming a global leader in future technologies. In his address, CM Revanth Reddy drew a parallel between American states, which are known for their distinct mottos, and his vision for Telangana. Reddy said, "In America, every State has a motto. I have been so far to New York, New Jersey, Washington DC, Texas, and now we are here in California. New York State motto - Out of many, one. Texas is known as Lone Star State. California has a motto, Eureka. In India, we don't have a motto for a state. But I will now like to give my state - Telangana - a motto. My state Telangana can be called - The Future State." His proclamation was met with a resounding ovation, as he invited the attendees to participate in Telangana's transformative journey. "I invite you to Telangana. I invite you to the future. Together, let us make the future," Reddy emphasized, reinforcing the state's dedication to becoming a hub for innovation and technological advancement. Minister D. Sridhar Babu showcased the key aspects of Telangana's policies and the unique advantages that make it appealing to global and tech investors. Several prominent CEOs and founders of AI unicorns expressed interest in visiting Hyderabad to explore investment opportunities and expand their operations in the near future. (ANI)