Hyderabad, Aug.17 (NSS): Condemning the rumours that a Taiwanese based multinational electronics contract manufacturer, Foxconn, is leaving Telangana and moving to another State, Minister for IT and Industries Sridhar Babu has clarified that the company is not going anywhere.
Speaking to the media at the Secretariat here on Saturday, the Minister said that companies would expand their plants according to their policies and however, it was completely lie that the Foxconn was abandoning the Telangana State.
Sharing his recent America and South Korea tour along with Chief Minister A Revanth Reddy, the Minister said that the State government has signed agreements worth Rs 31,500 crore with 19 companies which may create 30,000 jobs in Telangana.
“We have discussed with 12 companies in South Korea, explaining the State government’s goal and target for the next 20 years, ” Sridhar Babu said.
He made it clear that the previous BRS government’s initiatives for the development of industries would be continued and however, the BRS government couldn’t ground more than 30 percent of MOUs singed with various companies during the last ten years.
” MOU does not mean immediate grounding. However, keeping in view the failure of previous government’s experiences, the current Congress government is setting up a special cell to ground the agreements made during foreign tours. Moreover, officials are in touch with companies that have invested Rs 40,000 crore during the Davos tour,” Sridhar Babu disclosed.
He alleged that former chief minister K Chandrashekar Rao had gone to China twice earlier and out of the Rs 1000 crore MOU, only Rs 100-200 crore was grounded.
“We will welcome anyone, including BRS leaders’ relatives, who come with new technology for the State’s development. A new industrial policy will be introduced soon. This is the first time the Chief Minister has visited America and South Korea after the formation of Telangana State,” Sridhar Babu said.
The Minister further stated that the Chief Minister’s tour has instilled confidence in foreign companies to invest in Telangana.
“We did not go on a foreign tour for entertainment, but to show what our goal is for the next 20 years. We have discussed AI city, future city, and Musi Riverfront Development with many companies during the tour,” he added.
“Our goal is to bring investments to the Telangana State. We are working hard to bring international investments, stating that Telangana has a favorable destination for investments,” Sridhar Babu disclosed.
