Thursday, March 28, 2024
HomeTelanganaInvestments sought by KTR from industry majors in Mumbai

Investments sought by KTR from industry majors in Mumbai

Selling investment opportunities in Telangana to various corporate behemoths in Mumbai On Thursday, IT and Industries Minister KT Rama Rao invited the Jindal Group to look into the possibility of establishing a steel plant in Bayyaram, a project promised in the AP Reorganisation Act but repeatedly backtracked by the Centre.

Considering Telangana’s aerospace and defence eco-system, the Industries Minister, who will lead the Telangana delegation to the World Economic Forum’s annual meeting in Davos beginning January 16, also urged the Tata Group to establish a Maintenance, Repair and Overhaul (MRO) centre in Hyderabad.

During his meetings with the head honchos of various corporations, the Minister urged the executives to expand their operations in the state, with a particular emphasis on establishing new units in tier II towns and cities.

On Thursday, the Minister paid a whirlwind visit to Mumbai, where he met with corporate leaders such as Tata Group Chairman Natarajan Chandrasekaran, Jindal Group Chairman and Managing Director Sajjan Jindal and Hindustan Unilever Limited Managing Director Sanjeev Mehta.

Following a briefing on the Tata Group’s operations in Telangana, the Minister suggested sector-specific opportunities for further enhancing their operations. Given Telangana’s industry-friendly policies, the Minister urged the Tata Group to invest more in various sectors.

He wished for Tata management to prioritise Telangana in their future expansion plans in different sectors. “Tata Group is making phenomenal job in the aerospace and defence sector with Hyderabad as its base. I request you to explore possibilities of expanding TCS operations to Warangal,” Rama Rao urged Tata Group Chairman Chandrasekaran, apart from pitching for an MRO centre in Hyderabad.

Since the Tata Group was making big plans in the electronics sector, the Minister explained Telangana’s pro-electronics policies and encouraged them to set up shop there.

Chandrasekaran said the experience of continuing the company’s operations reflects the positivity of business management in the State, praising Telangana’s industry-friendly policies.

“Telangana will definitely be given priority in Tata Group’s expansion plans,” he said.

During his meeting with Sajjan Jindal, the Minister discussed the benefits of establishing a steel plant in Bayyaram. The union government had promised to build a steel plant in Bayyaram, and SAIL had expressed interest in doing so as well, but had later backtracked.

ALSO READ: Think local, beyond Hyderabad: KTR to women entrepreneurs

KTR meets Microsoft CEO Nadella, chats about ‘business and biryani’

This was when there was huge iron ore exploration potential in neighbouring Chhattisgarh, and he stated that establishing a plant in Bayyaram would benefit the company.

“If Jindal Group is willing to set up a steel plant in Bayyaram, the Telangana government will extend all support,” Rama Rao said, inviting the group to expand into education, sports, and other sectors.

Sajjan Jindal, who stated that he was very much aware of Telangana policies, praised Chief Minister K Chandrashekhar Rao’s leadership and the State’s rapid progress, particularly in attracting investments.

Following that, during a meeting with HUL Chairman and Managing Director Sanjeev Mehta, the Minister discussed various potential investment opportunities for HUL in the FMCG sector in Telangana.

The Minister stated that the Telangana government had set big goals for oil palm cultivation in the state and that farmers were being motivated accordingly.

“It is an opportune time for HUL to expand its investments in edible oil production in Telangana,” Rama Rao said.

The Industries Minister also met with RPG Group Managing Director Anant Goenka, during which they discussed investment opportunities in Telangana and other matters.

 

 

 

 

(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the text’s dependability, trustworthiness, reliability, and data. Raavi Media management/ythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)