Cong govt. creating hope among youth by efforts to attract investments, says Sridhar Babu

The State government strongly condemned the comments made by Bharat Rashtra Samithi president and Opposition leader K. Chandrasekhar Rao over the memorandums of understanding (MoUs) signed by companies willing to invest in Telangana.

Industries and IT Minister D. Sridhar Babu said the Congress government was trying to create a ‘hope’ among the youth with its efforts to boost industrial investments as they will result in employment opportunities. The BRS on its part depended on ‘hype’ not hope during its more than nine-year tenure in the government.

He advised the BRS president not to demoralise investors, including major firms, and hinder the progress of the State. The BRS government too signed several MoUs with assurance of subsidies and concessions and it was a fact that all the companies with whom the agreements were signed did not make investments.

“Governments will change, but industrial development is a continuous process. Companies look for congenial atmosphere to invest and we are trying our best to instil confidence among the industry to invest here,” he said. He recalled how the government could secure investments in the form of Global Capability Centres (GCCs) in the last two years which helped Telangana secure a sobriquet as ‘GCC capital’ of the country reflecting the confidence expressed by the companies in investing in the State.

He recalled that the Congress government secured assurances of ₹3.4 lakh crore investments in the last two years as several companies started ground work for their units with a direct employment potential of 1.4 lakh and two lakh indirect jobs. He recalled that the foundation stone for Hyderabad to emerge as drug, pharmaceuticals and vaccine capital of the country were laid by successive Congress governments. “We (Congress governments) hold the patent for boosting Hyderabad as vaccine capital with two thirds of vaccines being manufactured out of here,” he said.

Mr. Sridhar Babu said the Congress government adopted a low profile unlike the BRS government which lived in hype. “You (the BRS) will remain at your place if you continue to depend on hype,” he said. He faulted Mr. Chandrasekhar Rao for casting aspersions on the development of green pharma ecosystem in the upcoming Bharat Future City as real estate venture.