Focus is on balanced growth, creating jobs, welfare for all: Revanth Reddy

Chief Minister A. Revanth Reddy inaugurates the new office of Sonata Software in Hyderabad on Monday.
| Photo Credit: Arrangement

Chief Minister A. Revanth Reddy on Monday said the focus of the Telangana Rising vision of his government is to achieving balanced growth, garnering investments, job creation and to develop great infrastructure while ensuring welfare for all.

Mr. Reddy, who spoke at the opening of IT firm Sonata Software’s 2 lakh sq ft facility in Hyderabad’s Financial District, said this while stressing how growth of industry and economy remained crucial for ‘my government to help stakeholders — farmers, women, youth, students and senior citizens’.

Since assuming office in December 2023, the government succeeded in attracting nearly ₹3 lakh crore investments and creating more than 1 lakh jobs in the private sector. “During my trips to the World Economic Forum in Davos and investor meets in the U.S., South Korea, Japan and Singapore, we have convinced the world that Telangana means business. At Davos this year, we became the number one State by attracting investments worth ₹1.78 lakh crore,” he said.

Telangana is the number one State in attracting domestic and international investments. Hyderabad has emerged as a hub for global capability centre (GCCs) of software, Life Sciences and manufacturing firms besides for AI-ready data centres. IT giants like Microsoft, Cognizant, HCL Tech, Infosys and Wipro have opened new campuses and are expanding operations in the city.

Telangana is also the number one State in creating jobs, both in government and private sector, managing inflation, tax collections and according to a Government of India report in policing and maintaining law and order, Mr. Revanth Reddy said.

Seeking support of all concerned in transforming Telangana into a $1 trillion economy by 2030 and Hyderabad into the ‘world’s most amazing city’, he listed some of the projects mooted by his government to facilitate and accelerate growth. Developing ‘India’s most planned city within Hyderabad — the Future City, which will include an AI City’; building a dry port and connecting it to a sea port in A.P. with a dedicated road and rail corridor; and funding lakhs of young entrepreneurs, across verticals, under the Rajiv Yuva Vikasam programme figure among them.

Industries and IT Minister D. Sridhar Babu told the gathering that the government is keen on establishing Telangana as a global leader in emerging technologies.

Sonata Software MD and CEO Samir Dhir said the Bengaluru-headquartered company has operations in Hyderabad since 1988. Of the 5,500 employees in India, Bengaluru hosts around 3,000 and Hyderabad about 2,000, including 1,200-odd hired over the last year. The company plans to have 5,000 employees in Hyderabad over next five years.

Srini Veeravelli, CEO of Quant Systems Inc, a Sonata Software company, said the new facility will be instrumental in delivering AI, ML and cloud modernisation solutions to global clients.