The Telangana government led by chief minister A Revanth Reddy has claimed to have signed agreements with various industrial groups during the four-day World Economic Forum summit at Davos in Switzerland for establishing various projects with a total investment of Rs 178,950 crore, which will create 49,550 jobs.
Revanth Reddy returned to Hyderabad in the early hours of Friday with a victorious smile, as his office claimed that the state had received tremendous response from industrialists for investments in the state.
The biggest individual investments break-up broadly included Rs 60,000 crore from Amazon, Rs 45,000 crore from Sun Petrochemicals, Rs 15,000 crore each from Tillman Global Holdings and Megha Engineering, among others.
Besides, global software giants like HCL, Infosys and Wipro announced expansion of their facilities in Hyderabad promising thousands of new high-end jobs. Defence investments by Jindal was another big success, the official statement said.
On the other hand, the Andhra Pradesh government led by chief minister N Chandrababu Naidu hasn’t come out with any such statement claiming the names of big investors along with the break-up of investments and their job potential.
The state government only claimed that the state delegation focussed on promoting the state’s brand image to attract global investments, and fostering strategic partnerships with multinational corporations and countries.
Naidu held discussions with representatives of global industries like Maersk, Cisco, LG Chem, PepsiCo, Google Cloud, Petronas, Unilever, ArcelorMittal and Carlsberg. But none of them signed any MoUs with the state government to invest money.
The chief minister also met with Microsoft co-founder Bill Gates to explore transformative initiatives in health, education, and innovation. The discussions included establishing a Centre of Excellence for Health Innovation and Diagnostics in Andhra Pradesh.
With the conclusion of the Davos Summit, Naidu's team returned to New Delhi empty handed and this time, the summit has left Andhra Pradesh disappointed.
It was surprising because given Naidu’s reputation for encouraging industrialists and IT companies, he couldn't secure industries and investments for Andhra Pradesh during this summit.
The TDP leaders, however, are optimistic that Naidu can persuade industrialists to bring investments to the state.
Let us wait and see.
