Chief Minister A. Revanth Reddy on Thursday expressed concerns over the United States’ recent moves to increase tariffs on Indian goods and to raise the H-1B visa fee. He made the statements during a meeting with an American delegation comprising senior U.S. business leaders, think tank representatives and philanthropic figures. The delegation, which engages in bilateral relations, investment, and policy exchange between India and the US, met the Chief Minister and IT, Industries Minister Duddilla Sridhar Babu at the Secretariat here on Thursday.

The Chief Minister, emphasizing the significance and contribution of Telangana diaspora in America’s progress, said the recent decision to raise the H-1B visa fee could have an adverse impact on both sides of economies and lead to unrest and misunderstandings between the countries. He also shed light on the apprehensions that arise from abrupt decisions like the recent tariff hikes. Explaining his plans for the “Telangana Rising 2047” vision, the Chief Minister said the government aims to become $1 trillion economy by 2034 and $3 trillion by 2047. 

He said that Hyderabad is now competing with New York, Tokyo and South Korea in improving infrastructure and manufacturing capabilities. The Chief Minister further said that the Musi rejuvenation project will open up new avenues for advancing Telangana’s economy. With the riverfront development, we want to unveil opportunities that come with night economy, he added. Further, Chief Minister Revanth Reddy stressed on the government’s plans to place Telangana as the standout choice for the ‘China+1’ strategy. 

Minister Sridhar Babu outlined the government's plans to establish the state as a skill capital, especially in the artificial intelligence (AI) domain by setting up an AI University in Hyderabad. “Building on the city's emergence as a hub for Global Capacity Centres (GCCs), we plan to encourage the GCCs towards becoming value centres, thereby exporting services and building products.” he said. The Minister added that companies from Hyderabad supplied a major share of Covid vaccines globally, emphasizing that efforts are on to further nurture indigenous companies.