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Telangana Chief Minister Revanth Reddy on Tuesday met with representatives of Queensland from Australia in Hyderabad to discuss investment prospects for multiple sectors.
The prospect of signing the Memorandum of Understanding (MoU) in Industry, Sports, Trade and other sectors was discussed in the meeting, which was held at the Hyderabad International Convention Centre (HICC). Telangana IT and Industries Minister D Sridhar Babu also attended the meeting with Queensland delegates. Queensland representatives responded positively to entering agreements for investments in Telangana. Queensland Governor Jeannette and Queensland Finance, Trade, Employment and Training Minister Hon Rosslyn (Ros) Bates were also present at the meeting. This development came after Reddy on Tuesday announced that he wanted to transform the State's economy into a trillion-dollar economy in the next 10 years. He participated in the inauguration of the "Bio Asia 2025" conference at the HICC. In his address, chief minister Reddy said, "I want to transform my state's economy into a trillion-dollar economy in the next 10 years. The core urban area will become a service-only city and a net-zero hub. This is where we are creating future city, AI city and many other big projects. Hyderabad is now the EV capital of India with the highest sale of EVs in the entire country. Outside this core urban area, I wanted to develop one of the world's largest manufacturing hub. I want to make it my offer to the world for its China plus One need." He further said that Telangana is a landlocked state, and the state government is developing a mega-dry port that will be well-connected to a seaport in neighbouring Andhra Pradesh. "These two ports will be connected by dedicated rail and road links... We are excited to have this Bio Asia conference in this larger framework. I want to express my vision: together, we will develop Hyderabad and Telangana into one of the world's best and largest ecosystems for biosciences, biotech and life sciences in innovation, research and development, manufacturing, skills development and investment," he said. Reddy said that BioAsia has promoted the city of Hyderabad to be the world's capital for life sciences. (ANI)
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