homeeconomy NewsAn investor is like a sportscar, govt is like the road; we can’t create hurdles for speed: Telangana CM’s first Davos visit
An investor is like a sportscar, govt is like the road; we can’t create hurdles for speed: Telangana CM’s first Davos visit
Davos 2024 | Telangana CM Revanth Reddy pledges investor-friendly policies, aiming for global competition. He emphasises Hyderabad's advantages: climate, infrastructure, education, and transparent governance, targeting sectors like medical tourism and clean energy.
Telangana Chief Minister A Revanth Reddy said his government is merely "the road" on which the "sportscars" of investments drive, and that his job is to ensure there are no hurdles on said road. Speaking to CNBC-TV18 Managing Editor Shereen Bhan on the sidelines of the World Economic Forum in Davos, Switzerland, on Tuesday, January 16, Reddy said he and his delegation will make investors see "Hyderabad is the place for investment".
"Investments, I'd say, are like sportscars... the government is like the road. We cannot create any hurdles. So I'm going to clear (files) across the table, whatever permissions or agreements are there, I'm ready to take them up on a timely basis," he said.
Reddy also outlined his government's global ambitions.
"My government is going to compete on a global level — not just within India with Karnataka, Tamil Nadu, or Andhra Pradesh. Hyderabad is the kind of city whose weather allows you to work 365 days a year — we also have the infrastructure and connectivity," Reddy said.
The chief minister said he was particularly keen on attracting investments in the medical tourism, organic food, and more importantly, clean energy sectors. He said he has already had conversations with investors on that front.
"Everyone wants a return on investment, so I'm giving incentives and clearances across the table. Once (investors) have that, within that timeline, they (can) make a profit. Secondly, we have very good education infrastructure, which means they will produce the manpower to support these investments," Reddy said.
He also said Hyderabad is home to the pharmaceutical and IT industries. "The chain reaction begins in Hyderabad," he said.
On why Hyderabad is the ideal place to invest, Reddy said, "So, the weather is my asset, the international airport is my asset, education institutes are my set, research institutes are my asset and good, transparent governance is my set," the Telangana CM said.
First Published: Jan 16, 2024 7:55 PM IST
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