IT and industries minister D. Sridhar Babu said that the Revanth Reddy government will shortly announce a new industrial policy, whose focus would be on MSMEs. Apart from being industry and investor-friendly, the policy will retain the best practices from the existing TS-iPASS.
He also announced the creation of a special cell in the industries department, which will constantly monitor the progress of investment commitments and MoUs signed with MNCs during the recent foreign tour of the Chief Minister and even his WEF participation at Davos. Addressing a media conference on the recent official visit to the USA and South Korea, Sridhar Babu said that they had struck 19 investment deals totaling Rs 31,500 crore that would help create 30,750 jobs in the State. They also focussed on setting up global capacity centres, AI and semiconductor units in the state, he said.
World Bank President Ajay Banga, who pursued his education in Hyderabad, had shown keen interest and saw the Musi riverfront rejuvenation project as a growth engine to protect the natural stream. They also discussed the flagship projects of the government, including the Future City, AI City and Skills University, The meeting with Adobe CEO Shantanu Narayan was also similarly fruitful, he said. Charles Schwab and Trinet announced establishing a new global capacity centers (GCC) in the state, while Cognizant and Arcesium announced expansion plans in Hyderabad, he said The top biotech company in the world – Amgen is to.