Telangana team wraps up Davos meet with a kitty of investments worth ₹21,000 crore

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The Telangana team led by IT and Industries Minister KT Rama Rao, which went to Davos (Siwtzerland) last week for the annual meeting of World Economic Forum, has left for Hyderabad, bagging several projects worth ₹21,000 crore.

Bulk of it comes from Microsoft’s commitment to invest ₹16,000 crore to set up three more datacentres in the State, taking the total to six.

“During the four-day trip, the team had taken part in several roundtable discussions and one-on-one meetings several industry leaders from India and abroad,” a senior official of the Industries Ministry said.

During the trip, the minister also interacted with the Indian diaspora in Zurich. 

“At a time when the global economy is on the brink of recession, Telangana managed to bag some big-ticket investments. The delegation has succeeded in showcasing the State as a global investment destination,” he said.

“The WEF is the right platform to showcase Telangana to the world,” Rama Rao said here in a statement on Saturday.

Key wins

“The big draw of this edition of Davos trip was the WEF’s decision to set up its first Indian centre in Hyderabad. This thematic centre will focus on life sciences and health care,” the Minister said.

While Bharti Airtel Group had agreed to up a hyperscale datacentre in Hyderabad with an investment of ₹2,000 crore, pharma major Eurofins announced its decision to establish a laboratory campus in the Genome Valley with an outlay of ₹1,000 crore.

The other key investments are from PepsiCo, P&G, Allox, Appollo Tyres Ltd, WebPT, and Inspire Brands with an aggregate investment of ₹2,000 crore.