Telangana attracted Rs 3.28 lakh cr investments since Cong govt assumed office CM Revanth Reddy

Hyderabad, Jul 15 (PTI) Telangana Chief Minister A Revanth Reddy on Tuesday said his government has attracted investments worth about Rs 3,28,000 crore to the state in the 18 months since it assumed office.


Speaking after laying the foundation stone for the new facility of ICHOR Biologics at Genome Valley here, he said the state government is focused on building robust infrastructure, policies and the ecosystem to position the state as a destination for 'China Plus One' strategy.


'China Plus One strategy' refers to businesses diversifying manufacturing and supply chains beyond China.


"The entire world, after COVID, wants to shift investments, find one more place for their investments, production. Most of the investors are looking towards India. But, my point is I want to make Telangana, Hyderabad as the alternative to China Plus One. That's why, we are working hard to create an atmosphere and infrastructure and policies," he said.


Welcoming investors who want to invest in India in pharma, EV, IT and other sectors to Telangana, he assured the state government's support, incentives and expeditious government permissions.


Reddy said the state government would unveil its 'TelanganaRising 2047' vision document on December 9, 2025 (on the second anniversary of the state government).


The government envisions the state competing not with its neighbours like Karnataka and Andhra Pradesh but with the "countries of the world", he said.


The government headed by him aims to make Telangana a USD one trillion economy by 2035 and a USD three trillion economy by 2047, thus contributing 10 per cent to the Union Government's vision of making India a USD 30 trillion economy by 2047.


Though TDP, Congress and BRS have been in power in undivided Andhra Pradesh and later in Telangana, there has been no change in policies, he said.


The government headed by him is trying to attract investments to the state by improving policies, Reddy said.


The Genome Valley in Hyderabad, the country's first systematically developed R&D cluster, is the vaccine and bulk drugs capital of the world, he added.


Appreciating the industrialists based in the Genome Valley, he said the vaccine for COVID-19 was also produced from the cluster.

(This story has not been edited by THE WEEK and is auto-generated from PTI)