HYDERABAD: Chief Minister A Revanth Reddy on Tuesday said that the state government intends to adopt a ‘China Plus One’ strategy to attract more investments to Telangana and Hyderabad.
He said: “We want to create a ‘China Plus One’ destination. After the Covid pandemic, the entire world is searching for ‘China Plus One’ countries. They want to shift their investments and manufacture their products at other places. Now Taiwan is the place, but it will be only after us. Everyone is focusing on China Plus One. Most of the investors are looking towards India, but my point is to create an alternative China Plus One in Hyderabad and Telangana.”
Addressing the gathering after laying the foundation stone for a new facility of ICHOR Biologics in Genome Valley in Hyderabad, the chief minister said that the government aimed to reach a $1 trillion economy by 2035 and a $3 trillion economy by 2047.
“Telangana Rising – 2047 will be unveiled on December 9, 2025. Our target is to reach a $3 trillion economy by 2047. The Centre targeted a $30 trillion economy by 2047. We want to contribute 10 per cent to the Indian economy,” he said.
Stating that 33 per cent of the vaccines and 40 per cent of bulk drugs in India are being produced in Genome Valley here, Revanth said that during the Covid-19 pandemic, Hyderabad had provided vaccines to about 100 countries.
He said that though the parties and governments have changed, the policies have been continuing since 1994. After the Congress came to power, we did not change the policies, incentives and permissions for the industries in the state. He said that the government has attracted `3.28 lakh crore investments in the last 18 months.
“Hyderabad is a place for data centres and tops in GCCs. Telangana is far better in attracting biopharma and other industries in the country compared to any other state. We want to compete with
the world, not with states like Maharashtra, Andhra Pradesh, Karnataka and others,” the chief minister said. IT & Industries Minister D Sridhar Babu, Labour Minister G Vivek Venkatswamy, ICHOR Biologics Managing Director Sudini Anand Reddy and others were present at the ceremony.
