Hyderabad is the best place for global investments: Minister KTR

Welcoming the decision of the Monin company to set up its unit at Gunthapally village in Sangareddy, the IT and Industries minister KT Rama Rao said Hyderabad city provided the best ecosystem for the food processing industry. He said earlier, that Coca-Cola and Pepsi set up their units in the city and chocolate companies also established their units.

Mr Rama Rao said global giants such as Amazon, Google and Apple set up their units in the city. The state government rolled out industry-friendly policies and provided good infrastructure for the companies. The Monin would be investing Rs 300 crore providing 150 direct and 200 indirect jobs. KTR wanted the company executives to expand their activities further as Hyderabad is the best city suitable for their operations and exports.

Monin Group chairman Olivier said they visited eight states in India to invest but they did not find a suitable environment. They finally decided on Hyderabad city where they found it very friendly. He said they appreciated the Telangana business spirit and hence decided to invest in the state. He further Minister Mr Rama Rao had earlier asked the company to explore Telangana state before investing. “We got good encouragement from minister Mr Rama Rao and we are surprised to find the most suitable industrial policies of the state,” he said.

By Gollapudi Srinivasa Rao