Revanth Reddy, the Chief Minister of Telangana, is not doing anything practical but simply following an outdated style in his approach towards attracting foreign investments to the state.
He is touring the USA, claiming that he will bring investments. Someone should tell him that those days are gone, and it is a 20-year-old strategy.
In this new digital age, investments come for ideas and infrastructure. It should be underlined that Indian startups received investments of USD 1 billion in just one month. That's the potential of ideas.
Next is infrastructure. It is needless to say that any foreign investor would like to invest in Gachibowli and the Financial District once they visit the place. Ministers need not travel all around the globe seeking investments for the state.
Revanth Reddy should master the art of keeping a magnet in Telangana that attracts multinational companies and foreign investors.
Revanth Reddy frequently going to the USA wouldn’t serve any purpose other than quenching his foreign tour passion at the cost of the public exchequer.
With the money being wasted on his entourage, he could very well give Scootys to the girl students as he promised in his manifesto.
Moreover, he should focus on infrastructure instead of going around the world begging for investments. It will become a vain attempt at the end. It appears that officials are misguiding him.
On the other hand, the USA itself is suffering from several issues, including inflation, recession and other challenges. The upcoming election season has kept many things uncertain.
Nobody knows who will come to power after November 2024 between Kamala Harris and Donald Trump.
The situation will be different in both cases regarding the status of the USA and its economy as a whole. At this juncture, who will listen to Revanth Reddy's appeal to get investments to Telangana?
Revanth Reddy should think differently and compete with the likes of KTR from the previous government in the aspect of attracting foreign investments.
Usha Chowdhary
