Telangana CM raises concern over US tariffs, H-1B visa fee hike
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Hyderabad, Oct 9 : Telangana Chief Minister A. Revanth Reddy on Thursday expressed concern over the United States' recent moves to increase tariffs on Indian goods and to raise the H-1B visa fee.
He voiced his views during a meeting with an American delegation comprising senior US 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 Dr. B.R. Ambedkar Telangana State Secretariat here.
The Chief Minister, emphasising 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.
According to Chief Minister's Office (CMO), he also shed light on the apprehensions that arise from abrupt decisions like the recent tariff hikes.
He highlighted that successive state governments followed a continuity in developmental policy initiatives, paving way for the growth of a global city that Hyderabad is today. Despite political and ideological differences, our governments adopted best practices from the past and never deviated from policies, he said.
Explaining his plans for the Telangana Rising 2047 vision, the Chief Minister said the government aims to make Telangana $1 trillion economy by 2034 and $3 trillion by 2047. He said Hyderabad is now competing with New York, Tokyo and South Korea, in improving infrastructure and manufacturing capabilities.
"We are undertaking several game-changer projects for Hyderabad and my state – Regional Ring Road, Regional Ring Rail, manufacturing zones, Bharat Future City, Dry Port, Dedicated Road and Rail connectivity with Sea Port in neighbouring Andhra Pradesh, Musi Rejuvenation and the expansion of Hyderabad Metro rail."
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. “Hyderabad has the heritage and culture to develop a great riverfront.”
He stressed on the government's plans to place Telangana as the standout choice for the 'China 1' strategy. "I request the support of US industry partners in development of the Bharat Future City. In the near future, I would like to invite all the Fortune 500 companies to have presence in Future City."
Minister Sridhar Babu outlined the government's grand 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.
The Minister added that companies from Hyderabad supplied a major share of Covid vaccines globally, emphasising that efforts are on to further nurture indigenous companies.
Walter Russell Mead, Distinguished Fellow at the Hudson Institute and Columnist, Wall Street Journal, Mark Rosenblatt, founder and CEO, Rationalwave Capital Partners, Harlan Crow, Chairman, Crow Holdings, Ravenel Curry, founder and Co-CIO, Eagle Capital Management, and Henry Billingsley, Partner, Billingsley Company were part of the delegation.
He voiced his views during a meeting with an American delegation comprising senior US 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 Dr. B.R. Ambedkar Telangana State Secretariat here.
The Chief Minister, emphasising 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.
According to Chief Minister's Office (CMO), he also shed light on the apprehensions that arise from abrupt decisions like the recent tariff hikes.
He highlighted that successive state governments followed a continuity in developmental policy initiatives, paving way for the growth of a global city that Hyderabad is today. Despite political and ideological differences, our governments adopted best practices from the past and never deviated from policies, he said.
Explaining his plans for the Telangana Rising 2047 vision, the Chief Minister said the government aims to make Telangana $1 trillion economy by 2034 and $3 trillion by 2047. He said Hyderabad is now competing with New York, Tokyo and South Korea, in improving infrastructure and manufacturing capabilities.
"We are undertaking several game-changer projects for Hyderabad and my state – Regional Ring Road, Regional Ring Rail, manufacturing zones, Bharat Future City, Dry Port, Dedicated Road and Rail connectivity with Sea Port in neighbouring Andhra Pradesh, Musi Rejuvenation and the expansion of Hyderabad Metro rail."
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. “Hyderabad has the heritage and culture to develop a great riverfront.”
He stressed on the government's plans to place Telangana as the standout choice for the 'China 1' strategy. "I request the support of US industry partners in development of the Bharat Future City. In the near future, I would like to invite all the Fortune 500 companies to have presence in Future City."
Minister Sridhar Babu outlined the government's grand 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.
The Minister added that companies from Hyderabad supplied a major share of Covid vaccines globally, emphasising that efforts are on to further nurture indigenous companies.
Walter Russell Mead, Distinguished Fellow at the Hudson Institute and Columnist, Wall Street Journal, Mark Rosenblatt, founder and CEO, Rationalwave Capital Partners, Harlan Crow, Chairman, Crow Holdings, Ravenel Curry, founder and Co-CIO, Eagle Capital Management, and Henry Billingsley, Partner, Billingsley Company were part of the delegation.
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