Latest news with #ChinaPlusOne
The Hindu
16 hours ago
- Business
- The Hindu
Telangana mulls policy for GCCs to attract more firms, make process easier
A policy for global capability centres (GCCs) that will seek to consolidate on Hyderabad's emergence as a GCC hub, make the process for investors setting up such facilities easier and attract more companies is on the anvil in Telangana. 'Going forward, the Telangana government is planning to introduce a custom GCC policy,' the Chief Minister's office said, announcing that in the first six months of 2025 Hyderabad attracted as many as 27 GCCs. The city continues to attract mid-market companies as a category and US-based, European, Japanese and South Korean companies. McDonalds, Vanguard, Citizens Bank, Heineken, BarryCalebaut, DAZN and Dai-ichi are some of the firms that have established GCC this year in Hyderabad. The CMO spoke of the potential to attract more GCCs with the proposed policy while also highlighting how the State government's emphasis on the China Plus One strategy of global firms is helping attract new players across industries. The China Plus One strategy essentially pertains to a geographical diversification global firms with manufacturing operations in China have set out on and for which they are evaluating India and a few other countries in Asia to locate the new facilities. Chief Minister A. Revanth Reddy had been pointing out in his addresses at industries events on how the favourable, stable government policies, strong ecosystem and a legacy of development have contributed to Hyderabad's emergence as a preferred destination of companies. Hyderabad is not competing with other States but other countries, he had declared during the opening of new facilities of many companies in recent times. Preferred by GCCs Hyderabad has become a preferred destination for MNCs expanding their GCC operations. The city is home to more than 355 GCCs, a majority of them of US-based firms. As many as 70 new GCCs were setup in 2024 and Telangana continues to welcome more in 2025, across multiple areas, including risk management, cybersecurity, machine learning, supply chain management, cloud computing and AI/ML Research, the CMO said. Telangana has been figuring consistently among top 3 States in Ease of Doing Business rankings in India. Some of the contributing factors for Hyderabad includes its infrastructure, skilled labour, low cost of living and favourable policies that have helped attract technology, manufacturing, financial services and pharmaceutical firms. The proposed Regional Ring Road (RRR), planned to encompass the existing Outer Ring Road (ORR), is set to expand the investment horizons of Hyderabad with greater connectivity to the international airport. The CMO said during the visit of Chief Minister Revanth Reddy to the World Economic Forum (WEF) earlier this year, the Telangana delegation met with more than 40 global corporate leaders, attracting projects entailing ₹1.78 lakh crore . More sectoral policies Approvals for new industrial projects are issued through a single-window clearance system, based on self-certification, in less than 15 days. In addition to the GCC policy, the State government will soon launch sectoral policies on electric vehicles, Life Sciences, AVGC and Semiconductors, the CMO said. IT industry body Nasscom in a report last year said multiple factors are contributing to emergence of Telangana as a preferred GCC destination, including single window clearances for State registrations, licenses and approvals for new GCCs. Sustain focus In its recommendation, Nasscom said the State government should sustain infrastructure investment, focus on Deeptech and high-end skills development and target attracting more than 500 GCCs by 2030 by conducting global roadshows and project Telangana as Unicorn GCC Hub.
CNBC
3 days ago
- Business
- CNBC
Expect tariff 'cascade' effect across slowing global economy, top UN official warns
The leading arm of the United Nations focused on trade and development, UNCTAD, says President Trump's tariff policies are already creating new costs and disruptions in the global supply chain, and for less developed nations that trade with the U.S., the worst economic fallout hasn't hit yet. "We already see a disruption in the global supply chain," said Rebeca Grynspan, Secretary General of UNCTAD. "Many of the CEOs sit and wait, because if there is no predictability, and what you need for trade and investment is predictability and trust," she added. Earlier this year, UNCTAD released data showing global investment back at financial crisis era levels. The UN arm is also forecasting one-half a percentage point to be shaved off of global growth this year. "We are worried the high level of uncertainty is paralyzing business decisions, which is impacting trade, resulting in trade being revised downward," Grynspan said of the lowered global GDP forecast of 2.3%, down from 2.8%. "This is a lot," she said. "This is already much lower than the growth we experienced in the last decade," she added. U.S. consumer inflation increased in June, a spike attributed to higher prices on consumer goods imported from foreign countries, though the Trump administration says tariffs do not cause inflation. Vietnam, Cambodia, and Malaysia, three Asian countries that benefited from the "China Plus One" supply chain strategy that saw more manufacturing move to these countries, are seeing an impact as supply chains shift again, Grynspan said. Trump has threatened to add a 40% tariff onto any good that uses what is known as transshipment, with a product's journey starting in China but then moving to nations such as Vietnam to avoid Chinese tariffs. The layering of tariffs will cause the most economic pain for the least developed nations globally, according to the UN official, with a combination of existing tariffs and Trump tariff threats resulting in a stacking up of trade taxes that could lead to a reduction in exports of over 50%. "This is a cascade," she said. "It will affect jobs, and it will affect the stability in many countries, where even growth will be lower than the average in the world," Grynspan said. "If you take the least developed countries of the world, 46 countries that are the most vulnerable, we project that their exports could be impacted, as much as 54% down, if the tariffs are put on them," she added. Cambodia's exports to the U.S. represent more than 10% of its GDP, according to the Center for Global Development. Tariffs imposed by the Trump administration could erase over $4.5 billion in Cambodian exports over the next four years, with garments and travel goods suffering the largest blows, according to research firm Datawheel, with increasing risk to Cambodia's economic and social stability. Grynspan said while it is a good sign that the Trump administration wants to negotiate trade agreements, these deals are complex and take time to complete, and the current uncertainty is impacting economic growth and investment. At the same time, another inflationary challenge for the global supply chain has picked up again, with increasing aggression of Houthis towards freight vessels in the Red Sea. Two vessels were attacked in recent weeks, resulting in the sinking of one containership. "These choke points are very important (to trade)," Grynspan said. "When they are disrupted, the whole system suffers." She said the latest attack in the Red Sea raised the war premium in marine insurance by 1% above the value of the ship, or as much as $1 million. Added fuel costs as a result of ocean carriers traversing longer routes to avoid the Red Sea adds to inflationary pressures. She said the Red Sea situation alone could add 0.6% to global prices.
Time of India
4 days ago
- Business
- Time of India
Telangana committed to growth, political changes won't matter, says CM Revanth Reddy
HYDERABAD: Chief minister A Revanth Reddy on Tuesday said that Telangana remains committed to industrial growth, regardless of political transitions, and is now working to introduce globally competitive, futuristic policies to attract investments across sectors. The Congress govt, he said, is focused on transforming Telangana into a $3 trillion economy by 2047. Speaking after laying the foundation stone for ICHOR Biologics 2.0 expansion unit at Genome Valley, the CM said continuity and consistency in industrial policy boost investor confidence. "When policies do not change arbitrarily and become more investor-friendly while retaining the required regulatory oversight, it strengthens trust," he said. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Genome Valley, he said, is a matter of national pride. It accounts for 33% of India's vaccine production and over 40% of bulk drug output, he said. "Hyderabad has become the vaccine and bulk drug capital of the country. During the Covid-19 pandemic, Genome Valley played a key role in exporting vaccines across the globe," he noted, while thanking the entrepreneurs behind its success. Govt attracted ₹3.2L crore in 18 months, says Revanth ICHOR Biologics managing director Sudini Anand Reddy said the 1.75 lakh sq ft expansion will support the development of 11 new proteins over the next two years, making ICHOR a frontrunner in plasma-derived therapeutics. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Gorgeous Women, Ranked BigGlobalTravel Undo Revanth also said that Telangana attracted Rs 3.28 lakh crore in investments in the past 18 months and is positioning Hyderabad as the next big 'China Plus One' destination for global manufacturing. "Taiwan is currently playing that role, but there is now a spillover. Telangana is ready with policy, infrastructure and sectoral support to capture this opportunity," he said, urging Genome Valley to help attract more investments in pharma, electric vehicles, IT, and emerging sectors. IT and industries minister D Sridhar Babu said Telangana's life sciences sector is recording a compound annual growth rate (CAGR) of 23%, compared to the national average of 14%, and contributes nearly 3% to the state's GSDP, double the national average. He highlighted Hyderabad's emergence as a global life sciences cluster, alongside Boston, San Francisco, Cambridge and Tokyo. In 2024 alone, life sciences firms leased 2.4 million sq ft of office space in the city - up from 1.8 million sq ft in 2023. To accelerate this momentum, Telangana plans to set up dedicated pharma villages along the Hyderabad-Nagpur and Hyderabad-Bengaluru corridors, he said. The state is also focusing on cell and gene therapy, AI-powered diagnostics, drug innovation, rare disease research, and green chemistry - aiming to become a global model for life sciences innovation, he added.
New Indian Express
4 days ago
- Business
- New Indian Express
Telangana attracted Rs 3.28L crore investments in 18 months: CM Revanth Reddy
HYDERABAD: Chief Minister A Revanth Reddy on Tuesday said that the state government intends to adopt a 'China Plus One' strategy to attract more investments to Telangana and Hyderabad. He said: 'We want to create a 'China Plus One' destination. After the Covid pandemic, the entire world is searching for 'China Plus One' countries. They want to shift their investments and manufacture their products at other places. Now Taiwan is the place, but it will be only after us. Everyone is focusing on China Plus One. Most of the investors are looking towards India, but my point is to create an alternative China Plus One in Hyderabad and Telangana.' Addressing the gathering after laying the foundation stone for a new facility of ICHOR Biologics in Genome Valley in Hyderabad, the chief minister said that the government aimed to reach a $1 trillion economy by 2035 and a $3 trillion economy by 2047. 'Telangana Rising - 2047 will be unveiled on December 9, 2025. Our target is to reach a $3 trillion economy by 2047. The Centre targeted a $30 trillion economy by 2047. We want to contribute 10 per cent to the Indian economy,' he said. Stating that 33 per cent of the vaccines and 40 per cent of bulk drugs in India are being produced in Genome Valley here, Revanth said that during the Covid-19 pandemic, Hyderabad had provided vaccines to about 100 countries. He said that though the parties and governments have changed, the policies have been continuing since 1994. After the Congress came to power, we did not change the policies, incentives and permissions for the industries in the state. He said that the government has attracted `3.28 lakh crore investments in the last 18 months. 'Hyderabad is a place for data centres and tops in GCCs. Telangana is far better in attracting biopharma and other industries in the country compared to any other state. We want to compete with the world, not with states like Maharashtra, Andhra Pradesh, Karnataka and others,' the chief minister said. IT & Industries Minister D Sridhar Babu, Labour Minister G Vivek Venkatswamy, ICHOR Biologics Managing Director Sudini Anand Reddy and others were present at the ceremony.
The Hindu
5 days ago
- Business
- The Hindu
Taking all efforts to attract firms with China +1 strategy: Telangana CM
The Telangana government is making all out efforts to create the atmosphere, infrastructure and policies required to attract global firms pursuing a China Plus One strategy, Chief Minister A. Revanth Reddy said here on Tuesday. 'We are working hard to create the atmosphere.' he said, seeking to highlight how Telangana by virtue of emerging as a hub for various industries and sectors is well positioned as firms scout for locations globally to diversify their manufacturing beyond China. Speaking at the foundation laying of home grown specialty biopharmaceutical company Ichor Biologics' 1.75 lakh sq ft plant in Hyderabad's Genome Valley, Mr. Revanth Reddy asserted as more and more investors look towards India 'we are here to support'. The global trend is in line with bigger growth ambitions Telangana has set for itself. The State is competing for investments with other countries and not States, the Chief Minister declared, adding stability in policies for industries, including those on incentives and project approvals, remains the hallmark of the State through the regime of TDP, previous Congress and BRS regimes since the 1990s. Apart from accelerating the process of industrial development, his government in the 18 months since assuming office has been instrumental in attracting ₹3.2 lakh crore fresh investments. He also sought to emphasis the role of industries in achieving the Telangana Rising aspirations and goals, including the State shaping into a $1 trillion economy by 2035 and contributing 10% to the $30 trillion economy by 2047 that India has set out to achieve. IT and Industries Minister Sridhar Babu told the gathering the government is working to transform the State into a global hub for life sciences. Life sciences sector in the State recorded an impressive CAGR of 23%, well above the national average of 14% and contribute 2.5-3% to Telangana's GSDP, compared to the national average of 1.5%, underscoring the State's leadership in this space. Citing CBRE Global Life Sciences Atlas 2025, he said Hyderabad has earned a place among the world's leading life sciences clusters alongside Boston, San Francisco, Cambridge and Tokyo. Hyderabad is the first Indian city to feature in this list. In 2024, Life Sciences companies leased 2.4 million sq ft of office space in Hyderabad — up from 1.8 million sq ft in 2023 and 0.6 million sq ft in 2022, reflecting the sector's exponential growth. Speaking on the occasion, Labour Minister Venkat Swamy appreciated Ichor Biologics' leadership for the significant progress the company has made over the years. The company said it was established in 2011 and operationalised in 2013 at Genome Valley and focused on development and commercialisation of high-purity plasma-derived therapeutics. The new facility will employ hundreds of people.
