Davos Trip Nets State 1.79 Lakh Crore Commitments

The Telangana Rising delegation led by Chief Minister Revanth Reddy concluded its visit to the World Economic Forum in Davos today.

The visit brought promises of investments aggregating to Rs 1,78,950 crore, which are expected to generate 49,550 jobs across sectors.

Among the commitments is one by Amazon Web Services of Rs 60,000 crore, another by Sun Petrochemicals of Rs 45,500 crore, a third by Tillman Global Holdings of Rs 15,000 crore, and a fourth by Megha Engineering of Rs 15,000 crore.

In addition, Infosys pledged 17,000 new jobs, HCL announced plans to create 5,000 jobs, and Wipro committed another 5,000 jobs, in the city.

Data centres became the biggest story of the visit, with companies including Amazon, Tillman, Usra, CtrlS and Sify announcing new facilities and expansions.

The State also secured commitments for investments in other advanced industries including solar cell production, rocket manufacturing, aircraft interior design and unmanned aerial vehicle (UAV) production.

A significant achievement was Jindal's commitment to invest in the defense sector, which will further diversify the State's industrial portfolio.

Private industrial parks are also likely to receive a boost, with the Ramky Group committing to investments in integrated industrial parks. It has also committed investments in dry ports and townships.

In the agriculture-facing sector, Unilever approved two new manufacturing units.

There were also other MoUs signed in green energy and pumped storage projects.