We Want Telangana To Be India’s First Choice For Investments: Ajith Reddy

In an exclusive interview with Deccan Chronicle, Mr Ajith Reddy IDES, CEO – Invest Telangana says the state’s Telangana Rising 2047 vision envisages decentralised industrial development, with Tier II cities such as Warangal, Mahbubnagar and Nizamabad emerging as growth centres.

Last year, we had the Telangana Rising Summit, where Chief Minister Revanth Reddy and his Cabinet unveiled the vision document for Telangana, called Telangana Rising 2047. The broad focus is to have a $3 trillion economy by 2047, with an intermediate milestone of achieving a $1 trillion economy in 2034.

We have set the benchmark and the large framework for Telangana’s growth direction. This year’s summit is particularly focused on how to transition the vision into reality.

We have identified our existing strengths in sectors such as aerospace, space and defence, life sciences, IT companies and GCCs. We want to build on the momentum created last year. We are also looking at new areas such as AVGC, where considerable talent and companies already exist, but the focus has not been there in previous years.

We spent considerable time understanding exactly what investors want. Many factors could be involved, including the policy framework and the government’s commitment and seriousness in converting policies and vision into ground realities.

We are trying to understand more from industry partners. We wanted to have tailor-made requirements for each sector and, within each sector, customise packages depending on the size of the company and the size of the investors.

The focus is not just on MoUs and partnerships. Last year’s summit was successful in securing close to $69 billion in investments, and most of them have been grounded. This year, the focus is on transitioning these MoUs into partnerships.

The interests generated among investors must convert into partnerships, these partnerships into projects, and these projects into employment and economic growth.

We are in a much better position compared to last year. The Chief Minister’s vision is that Telangana investment summits should keep happening. We do not want this to be just a ceremonial summit. The vision is to position Telangana as a business platform where anybody looking at investment opportunities in India should consider Telangana first.

We are well prepared in terms of arrangements. It could be 10 to 20 times what we did last year. We are trying to match international standards and benchmark ourselves against summits and expos held across the world.

We have invited close to 600 to 700 international delegates, including diplomats, commercial representatives, defence attachés, consuls general and CEOs, CFOs and other senior executives from companies across Europe, North America, Japan, South Korea, Singapore and other countries.

The focus is more on the quality of participation than quantity. We are also organising a large Raksha Expo, a pharma and life sciences expo, and giving particular attention to the creator economy and AVGC sector. IndiaJoy will also be co-located with the summit.

In addition, we are planning a climate conclave where policymakers and climate experts can contribute to discussions that should translate into an action plan. We also have the Telangana Innovation Startup Challenge, through which we have identified public problems and invited young innovators and startups to come up with solutions. Promising ideas can be translated into prototypes, and the government can potentially give contracts to them.

Telangana has consistently done well in ease of doing business. There are several stakeholder consultations happening for different policies, including data centres, electronics, aerospace, textiles and AVGC.

These policies are being reconsidered and will be presented to domestic and international investors. They are not being drafted in closed rooms. We are having serious consultations with investors who already have establishments in Hyderabad and with industry associations. Most of the writing that goes into these policies comes from the industry.

The policies will also include incentives that the state can provide in terms of the power sector, power tariffs and available land banks. We are also focusing on industrial parks close to Hyderabad.

The CM’s Telangana Rising 2047 vision envisages dividing the state into different development zones. The idea is to have services and non-polluting industries in one zone, manufacturing in another, and agriculture and allied sectors in another.

The government is also focusing on moving more IT companies into Tier II towns such as Warangal, Mahbubnagar and Nizamabad. It is a holistic document for the development of the state, with Hyderabad serving as the engine of growth.

Our proposal to investors is straightforward. We provide opportunities and a platform, and we do not leave them once they show interest. Each and every partnership we sign will be held until the project takes shape.

Even after the project is grounded, any issues or problems companies face will be addressed. So far, no company or industry that has come and set up operations has left Telangana. That itself speaks volumes about us.

There has been consistency in the state’s policies even when the government and leadership have changed. The Chief Minister has made it clear on multiple occasions that there will be no change in policy direction.

When it comes to talent, Hyderabad is among the top cities in the world that can offer the kind of workforce companies envisage. The growth of GCCs in Hyderabad over the last two years is a good example. Companies have identified talent as a major differentiator.

We are also able to provide high-quality power to industries, and the state has been successful in making encumbrance-free land available. The entire government machinery works in coordination to protect investor interests and ensure that projects move forward.