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PM Modi visit to Telangana on March 4th, 5th

PM Modi’s Telangana Visit: Projects Inaugurating in Adilabad and Sangareddy

Prime Minister Modi is scheduled to visit Telangana on March 4th and 5th. His visit will include inaugurating and dedicating various projects in Adilabad, laying foundation stones for development works, addressing public meetings in Adilabad and Sangareddy, and attending programs in Chennai.

Security measures are being carefully planned, including arrangements by the State government to ensure a successful visit. The Prime Minister’s visit is part of his engagement in launching development programs and addressing public gatherings during his two-day visit to Telangana.

What are the projects that PM Modi will inaugurate in Adilabad.?

Prime Minister Modi will inaugurate projects worth Rs 6,697 crore in Adilabad on March 4, 2024.

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What are the developmental projects that PM Modi will inaugurate in Sangareddy?

Prime Minister Modi will inaugurate developmental projects worth Rs 9,021 crore in Sangareddy on March 5, 2024. Some of the projects he will inaugurate include:

Widening works on the 31-km-long road between Sangareddy crossroads and Madinaguda on National Highway 65, costing Rs 1,298 crore.

Two-lane road widening works between Meda and Yellareddy, costing Rs 399 crore.

Two-lane road widening work between Yellareddy and Rudroor, both on National Highway 765D.

Paradeep-Hyderabad gas pipeline was built at a cost of Rs 3,338 crore.

Four-laning of the National Highway 161 between Kandi and Ramasanipally, costing Rs 1,409 crore.

Two-lane widened National Highway 167 between Mirayalguda and Kodada, done at a cost of Rs 323 crore.

Phase II of the 103-km-long MMTS.

New train between Ligampally and Ghat Kesar.

Newsbeat

Andhra Pradesh Launches 28 Power Substations

Andhra Pradesh Launches 28 Power Substations

Amaravati: Andhra Pradesh Chief Minister YS Jaganmohan Reddy inaugurated 12 electrical sub-stations and laid the foundation stone for 16 more by virtual mode on Tuesday.

The new substations will help to improve the quality and reliability of power supply to all regions of the state. The government is also investing in renewable energy sources, such as solar power, in order to reduce its reliance on fossil fuels.

Also Read | Hyderabad: The New IT Capital of India?

Hyderabad: The New IT Capital of India?

“We are spending nearly Rs 3,099 crore on substations alone,” Reddy said. “We already started some and the work on some more substations will begin shortly. We are also initiating 850 megawatts of solar power at a cost of Rs 3,400 crore which will create 1,700 jobs. An agreement with HPCL for investment of Rs 10,000 crore will be signed shortly,” he added.

The launch of the new substations is a major step forward in the government’s efforts to improve power infrastructure in Andhra Pradesh. The new substations will help to ensure that all residents of the state have access to reliable and affordable electricity.

Here are some of the benefits of the new substations:

Improved power quality and reliability
Reduced power outages
Increased capacity for renewable energy integration
Economic development opportunities
The government’s investment in renewable energy is also a positive step forward. Solar power is a clean and sustainable source of energy that can help to reduce the state’s reliance on fossil fuels. The new solar power projects will also create jobs and boost the state’s economy.

The launch of the new substations and the investment in renewable energy are both important steps in the government’s efforts to improve the quality of life for all residents of Andhra Pradesh.

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Hyderabad retail space absorption soars 145% YoY

Hyderabad: Retail space absorption in Hyderabad witnessed a record growth of 145% year-on-year (YoY) to 0.49 million square feet in the first nine months of 2023, compared to 0.20 million square feet in the same period in 2022. This is according to a report released by CBRE South Asia Pvt Ltd.

The city accounted for a 10% share in leasing across top eight cities during the January-September 2023 period, primarily dominated by fashion and apparel brands.

The report also highlights that during the July-September 2023 quarter, total leasing in the city stood at 0.26 million square feet, compared to 0.09 million square feet in July-September 2022, witnessing a substantial YoY growth of 189%.

During the nine-month period (January-September’23), fashion and apparel sector’s share in leasing stood at 34%, home and department stores at 17%, and food and beverage at 13%.

The chairman and CEO of CBRE for India, South-East Asia, the Middle East, and Africa, Anshuman Magazine, commented on the report, saying, “Retailers are keen on revamping the in-store experiences with cutting-edge technology, personalised services, and space optimisation. The retail industry is about to undergo a profound shift.”

The strong growth in retail space absorption in Hyderabad can be attributed to a number of factors, including:

  • The city’s growing population and rising disposable incomes
  • The increasing presence of national and international retailers
  • The development of new shopping malls and retail complexes
  • The increasing popularity of online shopping, which has led to a demand for omnichannel retail experiences

The report also notes that the retail sector in Hyderabad is expected to continue to grow in the coming years, driven by the factors mentioned above. This growth is likely to be further boosted by the government’s initiatives to promote economic development in the city, such as the Hyderabad Pharma City and the Telangana Aerospace and Defence Park.

Newsbeat

Telangana attracts Rs. 2800 crore investment from Kaynes Technology for compound semiconductor unit

Telangana is emerging as a preferred destination for electronics manufacturing units, with Kaynes Technology setting up its OSAT and compound semiconductor manufacturing facility in the state with an investment of Rs. 2800 crore.

The unit, which will generate employment for 2000 people, will come up at Kongara Kalan, which is also housing Foxconn and Corning units.

Industries Minister KT Rama Rao welcomed Kaynes Technology for setting up the facility in Telangana, saying that it was a proud moment for the state to join the league of coveted global destinations that host the semiconductor industry.

The Kaynes unit would be set up in 40 acres and the management was very aggressive in its plans. Going by their speed, the unit would commence its operations in 12 to 18 months, an official associated with the development said.

Implications

The establishment of Kaynes Technology’s compound semiconductor unit in Telangana is a significant development for the state’s electronics manufacturing sector. Compound semiconductors are used in a wide range of applications, including 5G, artificial intelligence, and electric vehicles. The new unit will help to position Telangana as a leading hub for the development and manufacturing of these cutting-edge technologies.

The investment by Kaynes Technology is also a testament to the state’s favorable business environment and its commitment to promoting electronics manufacturing. Telangana has been at the forefront of attracting investments in the electronics sector, and the new unit is expected to create thousands of jobs and generate significant economic activity.

 

Newsbeat

Goldman Sachs Opens New Office in Hyderabad, India

IT Minister KT Rama Rao inaugurated a new state-of-the-art office of Goldman Sachs in Hyderabad, India on Thursday. The office will serve as a Centre of Excellence for the firm’s client onboarding efforts, platform engineering, and global enterprise partnerships.

Goldman Sachs began operations in Hyderabad in March 2021 with a focus on engineering, finance, human capital management, consumer business services, cloud computing, artificial intelligence, and machine learning. The new office, located in Salarpuria Sattva Knowledge City, has a capacity of 2,500 professionals.

Minister Rao said that the opening of the new office reflects Telangana’s commitment to attracting and supporting multinational firms. “This will contribute to our existing vibrant ecosystem of global companies and startups here and create global opportunities for the local talent,” he said.

Goldman Sachs International CEO Richard Gnodde said that the company’s growth story in India is compelling and enabled by the country’s extraordinary talent. Over the last two decades, Bengaluru and Hyderabad have become integral to the firm’s global activities. Our new Hyderabad office is a testament to the firm’s continued commitment to Indian talent, which is world-class.

Goldman Sachs Services India Country Head Gunjan Samtani said that in just two years, the company’s teams in Hyderabad have established deep competencies driving enhanced client experience and revenue enablement.

The new office is designed to be sustainable and eco-friendly. This year, an additional 40 electric vehicles will be added to the existing fleet of 190 vehicles in the Hyderabad employee commutation programme, with onsite electric charging infrastructure. Separately, about 70 percent of products procured for the office interiors were sourced from local vendors.

Collectively with the Bengaluru office, India has the largest presence of Goldman Sachs globally outside its New York headquarters.

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Newsbeat

Quadrant to create 500 jobs in Hanamkonda IT park

Hanamkonda, Telangana: Quadrant Resources, a software company, is all set to begin its operations in the IT park in Madikonda, Hanamkonda district. The company will provide direct employment to local youth in the software sector.

Quadrant Resources is the third major company to set up its office in Warangal after Cyient and Tech Mahindra. The state government has allotted 50,000 square feet of space to the company and invested Rs 35 crore for its establishment.

The company has already hired 100-150 local youth and plans to create 500 jobs in the next two years. Quadrant Resources CEO Vamshi Reddy said that he decided to set up his company in Warangal to help engineering students build a career.

“Many engineering students from Warangal prefer to migrate to metropolitan cities like Hyderabad and other states, as there are no job opportunities here. I wanted to create job opportunities for local youth in their own city,” Reddy said.

The Telangana government is promoting the IT sector in Warangal and other Tier-II cities. The state government has set a target of creating one lakh IT jobs in Warangal by 2025.

The establishment of Quadrant Resources is a positive development for the IT sector in Warangal and Telangana. It will provide much-needed employment opportunities to local youth and boost the economic growth of the region.