Hyderabad, 27th May 2024  : Telangana IT Minister Sridhar Babu recently addressed concerns about reports of companies leaving the state. He clarified that the state government is actively working to retain and attract major investments, with particular focus on creating a favorable business environment for IT and other industries. Sridhar Babu emphasized that the state remains committed to its industry-friendly policies and is making significant efforts to bring major companies like Tesla to Telangana. This includes providing world-class infrastructure and streamlined approval processes to facilitate business operations.

Sridhar Babu also highlighted the state’s proactive approach in engaging with global firms, mentioning ongoing deliberations with Tesla for establishing a plant in Telangana. This effort aligns with the state’s broader strategy to position Hyderabad as a hub for emerging technologies, including artificial intelligence, machine learning, and data analytics, which are expected to generate new job opportunities.

Additionally, Sridhar Babu has initiated several measures to support the IT sector and other industries. These include policies aimed at boosting micro, small, and medium enterprises (MSMEs) and integrating digital technologies across government departments to enhance transparency and efficiency

Overall, Sridhar Babu reassured stakeholders that Telangana remains a top destination for businesses, driven by a progressive and supportive government stance towards the IT and industry sectors.