Hyderabad (Telangana) [India], June 10 : The Telangana government has secured a significant investment of Rs 2,150 crores in the biotech, technology, and fintech sectors, officials said on Tuesday, highlighting the state's growing appeal to venture capitalists and entrepreneurs.
The investment is expected to promote innovation and growth, further positioning Telangana as a global hub for emerging industries, they said.
Speaking to ANI, Telangana Industries and IT Minister D Sridhar Babu said that an MoU was signed with Shaiva Group and Taranis Capital, which will significantly boost Telangana's biotech, AI, and innovation growth.
"Senior industry colleagues have committed to investing Rs2,150 crores in Telangana, focusing on various sectors such as Biotech, Technology and Fintech. As venture capitalists, they aim to promote these industries and help them become global leaders. This investment reflects trust in the state government, talent, and entrepreneurs' hard work," he said.
He further added, "The government invites investors to explore opportunities in tier 2 and tier 3 cities across Telangana, fostering regional innovation and growth."
The Telangana Minister reiterated the state's commitment to welcoming investors and creating an enabling environment for innovation, especially in smaller cities, with the long-term goal of making Telangana a global innovation hub.