Revanth Pitches Future City Over GIFT City, Invites CII Investment
The Chief Minister said the government is placing special emphasis on manufacturing and intends to compete globally with countries such as China, Japan and Germany in the sector
Hyderabad: Chief Minister A. Revanth Reddy on Friday said that the state government’s Future City would be far superior to Gujarat's GIFT City. He said the state's ambition was to attract all Fortune 500 companies to the mega project.
He said while GIFT City has been developed over about 700 acres, Future City would spread across nearly 30,000 acres and was being planned as a global destination for investment, innovation and employment.
Addressing a delegation of the Confederation of Indian Industry (CII) Northern Regional Council here, the Chief Minister invited industrialists to invest in Telangana, particularly in Future City, and assured them of support from the state government. He said a Singapore-based firm is preparing the master plan for Future City, which is envisioned as one of the world's leading business destinations.
Revanth Reddy assured industrialists that the government would provide complete protection to their investments and extend support beyond their expectations. He said investors would have direct access to the government, with the Chief Secretary always available to resolve issues.
He announced that the industries minister would hold review meetings with industry representatives once every two months, while he himself would personally interact with investors every three months to address their concerns and ensure speedy implementation of projects.
Revanth Reddy said Telangana was not competing with neighbouring states for investments but was benchmarking itself against global cities such as Tokyo and New York. He said the state has the ecosystem to compete with international business centres and urged industrialists to consider Telangana as their own state.
He said the government had retained several good policies introduced by previous administrations while simultaneously implementing reforms to accelerate industrial growth. Stressing that there was no policy paralysis in Telangana, the Chief Minister said good policies would continue irrespective of which party or leader introduced them. He said the government was offering speedy approvals, attractive incentives and proactive governance to investors.
Referring to the state's growing technology ecosystem, Revanth Reddy said the promoters of Skyroot Aerospace belong to Telangana and the government would ensure a steady supply of skilled manpower to such high-technology industries through the Young India Skills University. He also revealed that nearly 200 companies have already come forward to establish Global Capability Centres (GCCs) in Telangana.
Highlighting major investments already being made in the state, the Chief Minister said Amazon is investing nearly `1 lakh crore in data centres, while the Adani Group is establishing a data centre with an investment of 35,000 crore.
He briefed them on the Global Summit at Future City in December last and the Telangana Rising-2047 vision document and pointed out Telangana was contributing around five per cent to the country's gross domestic product.
Highlighting Hyderabad's infrastructure advantages, Revanth Reddy noted that metropolitan cities faced serious challenges —air pollution in Delhi, flooding in Mumbai caused by heavy rains, and worsening traffic congestion in Bengaluru. Telangana was addressing these issues through planned urban development and progressive policies, making it easier to attract investments.
The Chief Minister said the government is placing special emphasis on manufacturing and intends to compete globally with countries such as China, Japan and Germany in the sector. He reiterated the government's ambitious target of transforming Telangana into a one-trillion-dollar economy by 2034.
He also highlighted the state's rapidly improving infrastructure, stating that the Centre has approved airports at Warangal and Adilabad and three bullet train corridors.
Inviting investments across the services, manufacturing and agriculture sectors, the Chief Minister said Telangana's cultural heritage and social harmony are among its greatest strengths. He noted that people from diverse communities live together peacefully, creating a conducive environment for business and economic growth.
