Amgen, Zoetis, ThermoFisher: CM Revanth Reddy secures Rs 31,500 Cr investment pledges in US

Hyderabad: Showcasing Telangana as a right fit for China plus one alternative, Chief Minister A. Revanth Reddy sealed 19 deals and secured over Rs 31,500 crore investment pledges from businessmen during his first leg tour of the United States of America.

The new investment is set to generate more than 30,750 new jobs in the state.

Chief Minister-led delegation of IT and Industries Minister D. Sridhar Babu, and officials held over 50 business meetings and three Roundtable Conferences in New York, DC, Dallas, and California.

An official spokesman said the delegation got massive support for his initiatives including the creation of a Future City, AI City, and the rejuvenation of the Musi River. He showcased Telangana as the right fit for the quest of America, Inc. for a China plus one alternate.

The delegation held Roundtable Conferences on business, AI, and semiconductors, spanning coast to coast, and also met with CEOs, founders, and business alliances and groups, inviting them to come to Hyderabad and consider Telangana in their plans.

The delegation closed deals in IT, GCC, Life Sciences, Pharma, Data Centres, AI, Cloud and Data Centres, Electric vehicles and batteries, green energy, FMCG, and manufacturing.

The major announcements in the IT sector include the Charles Schwab GCC, one of America’s leading financial sector corporations. The Trinet deal opens major forays ahead in the HR solutions sector. The significant expansion announcements by global IT major Cognizant, and Arcesium, reinforced the edge of Hyderabad in the IT/GCC space.

The pharma/life sciences sector saw fresh investments from nearly a dozen American companies. The MoU with Corning on skilling and flow chemistry reiterates the company's commitment to grow in Telangana and also reinforces the city’s R&D capabilities.

The announcement by Amgen, a top biotech company, to set up a new R&D tech facility is a breakthrough for Hyderabad. A new GCC by Zoetis Inc., the leader in the animal health sector, and significant expansions by HCA and Thermofisher are set to give a further boost to the life sciences ecosystem of Telangana.

Another major takeaway from the visit was the decision by Amazon to make significant expansion in their data center presence in Hyderabad and use the city as a hub in a big way to drive their India presence.

Aurum Equity too made a significant announcement to set up an AI-powered green data centre. Monarch Tractors adds a crucial fillip to Telangana’s ambition of growing in high-end manufacturing.

The delegation led by CM Revanth Reddy also engaged with Apple, Google, and Stanford University. “The trip opened a myriad of areas for accelerated partnerships, setting new horizons and showcasing our wealth of potential for newer opportunities. From our plans in AI to building the Future City, corporations, startups, business leaders, tech and business associations, and influencers have agreed to take our breathtaking vision to more people.l,” said Revanth Reddy, before leaving for South Korea.

D. Sridhar Babu, IT and industries minister, said, “We have exceeded our goals, which were audacious to begin with. Am delighted we could generate so much excitement in the American business world, which will lead to a Multi-fold impact on investments and new jobs. The pipeline ahead is exciting. We will rigorously follow up to ensure many more closures in the coming months.”