Telangana is a safe investment destination, says IT minister KT Rama Rao

HYDERABAD: Hard selling Telangana as a safe and popular investment destination, IT and Industries Minister KT Rama Rao on Monday asked the Saudi companies to take advantage of the opportunities the State offers.

Delivering the inaugural address at the 'Telangana Investment Meet', organised by Embassy of India in Saudi Arabia, Rama Rao said that Telangana is an attractive destination for investments and has already been able to attract huge investments from several countries and world's top-ranked institutions in the past seven years.

The State has already attracted over USD 22 billion of investments, thereby providing 1.5 million direct jobs, the Minister said. While stating that the State is trying to attract large scale investments in sectors like IT, pharma, life sciences, aerospace, defence, renewable energy and food processing, he said that the government will provide all assistance to the Saudi companies interested in investing in these sectors.

While thanking Saudi ambassador for organising the meeting with an aim to strengthen Telangana’s trade ties with the kingdom, he said this initiative will introduce investment opportunities and government policies in the State to the companies in Saudi.

Meanwhile, Indian Ambassador to Saudi Arabia Asaf Saeed said that Telangana is one of the youngest States in the country but has achieved excellent industrial progress over the last five years.