Encourage investments in Telangana, Sridhar Babu urges Latin American and Caribbean nations
IT Minister outlined investment advantages and various incentives offered by the State government to industrialists in Telangana
Hyderabad: IT and Industries Minister Duddilla Sridhar Babu on Saturday urged official delegates from Latin American and Caribbean nations to encourage their local industrialists to invest in Telangana by highlighting the State’s conducive environment for setting up industries.
Speaking as the chief guest at the second edition of the India–Latin America and Caribbean Countries Business Conclave, organized by the Global India Business Forum (GIBF) at Park Hyatt in Banjara Hills here, the Minister outlined the investment advantages and the various incentives offered by the state government to industrialists.
He observed that the trade policies adopted by former U.S. President Donald Trump, particularly the imposition of tariffs on goods from various countries, have, in some ways, turned out to be beneficial for India.
In the current global scenario, many industrialists seeking investment opportunities were increasingly turning their attention towards India, he noted. The Minister emphasized that Telangana was actively working to capitalize on these developments and attract greater investments. He predicted that Telangana would play a pivotal role in the future of the Indian economy.
A special policy has also been introduced to empower MSMEs in Telangana to compete on the global stage. He assured that the State government would extend comprehensive support to all industrialists willing to invest in Telangana.
He also disclosed that six international companies, including three are Korean companies, have come forward to invest in the National Investment and Manufacturing Zone (NIMZ) at Zaheerabad. Furthermore, the government is encouraging the establishment of industries in tier-2 and tier-3 cities across the State.
Special focus is also being placed on promoting agro-processing industries to transform farmers into successful entrepreneurs. Sridhar Babu highlighted the many cultural and economic similarities between Telangana and Latin American and Caribbean countries and extended an invitation to collaborate closely with these nations.
The event was attended by GIBF representatives including Joshi, Chakravarthy, and Seetharam, among others.
