Hyderabad: IT and industries minister K. Taraka Rama Rao said that India has one of the most compelling business stories in the world. Participating in a panel discussion “India: The Investment and Innovation Nation,” a part of the ongoing World Economic Forum Summit in Davos, the TS minister pointed out that India has 40 per cent of youth who are between the ages of 20 years and 40 years, which is a huge advantage that no other country has at this point.
Elevating a pitch for Telangana state, Mr Rama Rao asserted that the state has consistently ranked top in Ease of Doing Business in the country.
In support, he referred to the top five valued technology companies in the world — Apple, Google, Facebook, Microsoft, and Amazon — having their second-largest base in Hyderabad outside their respective headquarters.
The minister highlighted that among all the Indian cities, Mercer has rated Hyderabad, for five years in a row, as the city with the best quality of living. He also mentioned the JLL report and underlined that Hyderabad emerged as the world’s most dynamic city among 130 cities globally.
Mr Rama Rao also met head honchos of several global business houses at the Telangana Pavilion in Davos. Talking about the importance of Artificial Intelligence (AI) in various sectors, he said, “No business can stay untouched from the AI revolution. AI must be factored into every policy or strategy, whether government, IT or non-IT industries. We consider AI to be integral to all our work and hence in Telangana, we have dedicated 2020 as the year of AI.”
The minister further said, “AI is expected to transform the global economy and early adopters will have the first-mover advantage. Therefore, the state government is setting a vision to accelerate AI readiness and develop a conducive ecosystem in the state.”...