Hyderabad: IT Minister D Sridhar Babu responded strongly to allegations from the BRS party that Chief Minister A Revanth Reddy’s recent foreign trip to attract investment to the State was unproductive. He pointed out that when the Congress was in opposition, they never questioned the intentions of the previous government, even though only 30% of IT-related Memorandums of Understanding (MoUs) were successfully realized.
In his first press conference after returning from the foreign tour with the CM, Sridhar Babu recalled an earlier instance involving former CM K Chandrashekar Rao. He mentioned that KCR had boasted about securing a Rs 1,000 crore investment after a 15-day visit to China. However, only Rs 100-200 crore of that investment was actually materialized. Despite the limited success, the Congress did not criticize the previous government, he noted.
The Minister emphasized that a 30% success rate does not indicate failure. He argued that it is unreasonable to judge the outcome of such efforts in the same way one might evaluate the success of a movie based on its first or second show. He added that the current government is committed to continuing the positive initiatives of past administrations, whether they were led by the BRS or the Congress.
Sridhar Babu also addressed accusations that the current government was favoring so-called ‘benami firms’ linked to Revanth Reddy’s family, particularly a company named Swachh Bio based in the USA. He defended the company, stating that it is not new and has 18 years of experience along with eight patents in the USA.
The Minister argued that there is nothing wrong with collaborating with a company willing to share its technology to benefit farmers in the State. He mentioned that Swachh Bio is interested in investing Rs 1,000 crore and welcomed investment from anyone, even if it comes from the family of BRS leader KTR. He also invited BRS leaders to offer their suggestions based on their 10 years of experience.
Finally, Sridhar Babu announced that the State government will soon introduce a new industrial policy that will be ‘industry-friendly.’ He criticized the previous government for not having a dedicated policy for Micro, Small, and Medium Enterprises (MSMEs). He also dismissed rumors that companies like Amara Raja Group were planning to leave Telangana, clarifying that the company is actually planning to expand its operations in the future.
