Telangana chief minister, A Revanth Reddy.
Credit: PTI Photo
Telangana chief minister, A Revanth Reddy had told U based business honchos and CEOs that Telangana would to fit in as the missing jigsaw puzzle piece in the America, Inc's search for a China plus One strategy.
Revanth Reddy interacted with the top CEOs and business honchos at an official roundtable hosted by the Consulate General of India, New York, over a working luncheon late Monday in New York, emphasizing on the business-readiness of Telangana to fit in as the missing jigsaw puzzle piece in the America, Inc search for a China plus One strategy.
Organised and hosted by the Indian CG, NY, over 20 Chairpersons, CEOs representing well-known companies from varied sectors, including pharma, IT, technology, EV, GCC, biotech, and shipping sectors, among others, attended.
After a brief presentation on the history and future plans for the development of industrial clusters in Telangana and Hyderabad, Chief Minister Revanth Reddy brought the house down when he began his talk, saying, “I am here to speak from my heart and to share my state’s dreams and my people’s aspirations. Since this is my first visit to the USA as Chief Minister of Telangana, I hope to take back home as many dollars from all of you as possible.”
Showcasing the strengths of Hyderabad and Telangana as a top investment destination, he said, “We are now a powerhouse in software, life-sciences and Pharma, with a strong base in Aerospace, Defense, Electronics and other sectors. We helped the world overcome Covid by making millions of vaccines for people for many countries.”
“We have great infrastructure, wonderful talent and offer best policy support from our government for investors. Hyderabad, an over 425 years old city built by the Nizams, is interestingly almost the same age as the United State of America,” he said.
Speaking about the ambitious projects which offers opportunities for investment into the future and promise exponential growth, the Chief Minister said, “we are building a fourth city – the Future City. It will be India’s answer to future. It will be India’s first Net Zero Carbon city. Future City will become a hub for AI, medical tourism, sports, software and pharma. It is like a second round of gold rush. We are creating a New Industrial Policy to match our dreams. We will make it very easy to start new business and expand your existing business in Telangana. I keep saying - Telangana means business. I mean it.”
IT minister D Sridhar Babu made an elaborate pitch on the current strengths of Hyderabad Telangana for a variety of industry sectors and the detailed the policies that would enable the Chief Minister’s vision to make Telangana a viable alternate to China for manufacturing and develop Hyderabad into one of the top 10 cities in the world.
The industry leaders spoke of their experiences of investing worldwide, and doing business in India, and their expectations from Telangana and Hyderabad. They also explained the current plans for investments in the coming days.
Arcesium to expand
Telangana Chief Minister and his team, including Industries and IT minister D Sridhar Babu, closed on a successful capacity expansion agreement with Arcesium, a leading provider of technology and service solutions for asset managers.
The Team Telangana had detailed discussions with a high-level delegation led by Gaurav Suri, CEO, Arcesium, and senior team members, in New York late on Monday.
The discussions focused on the expansion of Arcesium’s Hyderabad office, which was the company’s first overseas location outside of its headquarters. The Hyderabad center plays a crucial role in supporting Arcesium’s global operations, particularly in areas of data management and data strategy initiatives. As part of its expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years.
Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, analytics platform used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms.
The expansion of Arcesium’s Hyderabad office will involve increasing workforce and enhancing facilities to support the company’s growing needs. This move is expected to create additional employment opportunities in the region and solidify Hyderabad’s reputation as a premier destination for global tech companies.
Swach Bio to establish biofuels plant in Telangana
After a successful meeting with Chief Minister Revanth Reddy and IT and industries minister D Sridhar Babu, and the official Telangana delegation, Swachh Bio, a lignocellulosic biofuels manufacturing company focused on providing energy solutions for a sustainable future, announced that it would soon establish a 250KLPD second-generation, cellulosic biofuels plant in Telangana.
The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which will provide employment to 250 people at the plant, and 250 people in additional support and other roles.
Praveen Paripati, Chairperson, Swacch Bio, met with Revanth Reddy, in New York late Monday.
Swacch Bio’s international partner, Suganit Biorenewables, has developed a patented and viable technology in producing biofuels and biochemicals from biomass and cellulose, which would add to Telangana government’s active efforts towards sustainable and eco-friendly growth of the state. The government guaranteed all required support to the company towards its investment in the state.