KTR Holds Productive Meetings with Global Companies, Boosting Investment Prospects for Telangana
Hyderabad, May 21, 2023 – Kalvakuntla Taraka Rama Rao (KTR), Minister for IT, Industries, and Municipal Administration and Urban Development, recently concluded a series of highly constructive meetings with prominent international companies, heralding significant investment prospects for Telangana.
The leadership team of Charles Schwab, a renowned American financial services giant, engaged in discussions exploring potential collaboration opportunities in the Banking, Financial Services, and Insurance (BFSI) sector. KTR highlighted the numerous advantages of considering Hyderabad as their next investment destination, emphasizing its conducive business ecosystem.
Another successful meeting took place with Texas-based Rave Gears, during which prospects for collaboration were discussed. Following the meeting, Rave Gears expressed keen interest in establishing a manufacturing plant in Telangana, showcasing the state’s attractiveness for industrial ventures.
In a meeting with the leadership team of Rite Software, a US-based leader in digital solutions within the ERP domain, an invitation was extended to KTR to inaugurate their new Development Center, slated to launch on June 30, 2023, in Hyderabad. The facility aims to provide employment opportunities for over 500 people this year and foster collaborations with esteemed academic institutions in Telangana. Additionally, Rite Software shared their plans for expanding into Tier-II cities like Warangal.
KTR also held discussions with Storable, a prominent software provider for the self-storage industry, serving thousands of facilities across the USA, Canada, Australia, and Europe. The company recently established its Global Development Center (GDC) in Hyderabad and presented further expansion plans. Storable intends to hire an additional 100 software developers immediately and collaborate with the Telangana Academy for Skill and Knowledge, fostering ties with local educational institutions.
The delegation from TEKGENCE INC, a global supply chain and digital solutions company, expressed their interest in potential investment opportunities in Telangana. Following the meeting, TEKGENCE INC expressed their intention to establish an Advanced Technology Center (ATC) focused on Product Development and Design Thinking in Hyderabad.
These fruitful discussions highlight the growing appeal of Telangana as a preferred investment destination. KTR’s efforts in attracting global companies to the region are expected to yield significant economic benefits, bolstering employment opportunities and promoting collaborative partnerships between industry and academia.
Jayesh Ranjan, Principal Secretary of the Industries and Commerce Department, and Praveen , Director of the IT and Digital Communications Department, actively participated in these meetings. The developments serve as a testament to Telangana’s commitment to fostering a thriving business environment.
