Telangana stands tall in year of declining Foreign Direct Investment: KTR

HYDERABAD: Bharat Rashtra Samithi (BRS) working president and former IT Minister KT Rama Rao has said that Telanagna was able to buck the trend of declining Foreign Direct Investment (FDI) along with Gujarat, Tamil Nadu.

Taking to X he tweeted the figures of growth achieved by Telangana in terms of foreign institutional investment (FDI). He said that in the financial year 2023-2024, despite the huge decrease in FDI in the country, Telangana achieved more than 100 percent investment.

During the year financial year 2024, the flow of FDI to the country had decreased. But only Gujarat, Tamil Nadu and Telangana were able to bring in more investment than last year.

KTR pointed out that Gujarat had achieved 55 percent and Tamil Nadu 12 percent more investment in FY 2024 as compared to FY 2023. FDI inflows declined in most of the states. But Telangana has achieved 130 percent growth in FDI even in adverse circumstances.

“This was made possible because Amazon invested Rs 36,300 crore for web services and more than Rs 16,000 crore by Microsoft. The companies have agreed to invest that amount in the financial year and announced in 2022-23. There has been a huge growth in FDI this year because of that investment,” he said.