CM Revanth voices concern over tariff hikes, H-1B fee increase with US team
The delegation, which engages in bilateral relations, investment and policy exchange between India and the US
By - Newsmeter Network
CM Revanth voices concern over tariff hikes, H-1B fee increase with US team
Hyderabad: Chief Minister A Revanth Reddy expressed concerns over the United States’ recent moves to increase tariffs on Indian goods and to raise the H-1B visa fee.
He was speaking at a meeting with an American delegation comprising senior US business leaders, think tank representatives and philanthropic figures.
The delegation, which engages in bilateral relations, investment and policy exchange between India and the US, met the Chief Minister and IT, Industries Minister Duddilla Sridhar Babu at the Dr BR Ambedkar Telangana State Secretariat here on Thursday.
‘H-1B visa fee hike disadvantage for both sides’
The Chief Minister, emphasising the significance and contribution of Telangana diaspora in America’s progress, said the recent decision to raise the H-1B visa fee could have an adverse impact on both sides of economies and lead to unrest and misunderstandings between the countries.
He also shed light on the apprehensions that arise from abrupt decisions like the recent tariff hikes.
He highlighted that successive State governments followed a continuity in developmental policy initiatives, paving the way for the growth of a global city that Hyderabad is today. Despite political and ideological differences, our governments adopted best practices from the past and never deviated from policies, he said.
Telangana aiming for global standards, says CM
Explaining his plans for the Telangana Rising 2047 vision, the Chief Minister said the government aims to become $1 trillion economy by 2034 and $3 trillion economy by 2047. He said Hyderabad is now competing with New York, Tokyo and South Korea, challenging by global standards in improving our infrastructure and manufacturing capabilities.
“We are undertaking several game-changer projects for Hyderabad and my state – Regional Ring Road, Regional Ring Rail, manufacturing zones, Bharat Future City, Dry Port, Dedicated Road and Rail connectivity with Sea Port in neighbouring Andhra Pradesh, Musi Rejuvenation and the expansion of Hyderabad Metro rail,” he said.
The Chief Minister further said that the Musi rejuvenation project will open up new avenues for advancing Telangana’s economy. With the riverfront development, we want to unveil opportunities that come with the night economy, he added.
“Hyderabad has the heritage and culture to develop a great riverfront.”
‘China+1’ strategy
Further, he stressed the government’s plans to place Telangana as the standout choice for the ‘China+1’ strategy.
“I request the support of US industry partners in the development of the Bharat Future City. Soon, I would like to invite all the Fortune 500 companies to have a presence in Future City.”
Skill capital with AI university
Minister Sridhar Babu outlined the government’s grand plans to establish the state as a skill capital, especially in the Artificial Intelligence (AI) domain, by setting up an AI University in Hyderabad. Building on the city’s emergence as a hub for Global Capacity Centres (GCCs), we plan to encourage the GCCs towards becoming value centres, thereby exporting services and building products.
The minister added that companies from Hyderabad supplied a major share of Covid vaccines globally, emphasising that efforts are on to further nurture indigenous companies.
