Hyderabad: IT and industries minister Duddilla Sridhar Babu said on Thursday that the Telangana govt has signed 44 MoUs with various companies and attracted investments worth 2.19 lakh crore through its visits to Davos.Responding to a query in the assembly, the minister said that the state’s participation in the World Economic Forum (WEF) meetings in Davos in 2024 and 2025 is expected to generate 68,150 direct employment opportunities.“These investments are currently at different stages. Six companies that signed MoUs for investments worth 81,800 crore have already been allotted land, and the govt has generated 1,540 crore in revenue in the process. We have identified land for three other companies with a proposed investment of around 30,000 crore,” he added.According to the minister, while 18 MoUs for investments worth 40,232 crore were signed during the 2025 edition of Davos, 26 MoUs worth 1,78,950 crore were signed a year earlier.The minister pointed out that MoUs are only base agreements. “After signing MoUs, we carry out due diligence of the detailed project report (DPR). There may be several practical issues, including firms being unable to secure loans or internal rifts within companies, that could affect final closure,” he said, adding that Davos is a platform used to highlight the state’s achievements and learn about new technologies. “Some outcomes can be seen immediately, while others will be visible in the long term,” he added.Talking about the Nizamabad IT Tower, he said the facility has a total seating capacity of 681 and that 11 companies are currently operating from there. A total of 276 employees are working at the tower, he added.“Earlier, 18 companies were operating from here. Now the number has reduced by seven. This could be the result of AI reshaping the IT industry,” he said, adding that the govt is considering extending free rental support by another three years for companies operating out of IT towers in various districts to encourage them to continue functioning there and help retain talent locally.Speaking about T-Fiber, he said that earlier interconnectivity was provided through private operators, but the govt is now providing internet services to Rythu Vedikas, 4,000 govt offices, and even the secretariat through T-Fiber, setting an example for the entire country.MSID:: 129822554 413 |
