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Hans India
6 hours ago
- Business
- Hans India
Sridhar Babu seeks UAE industrialists' help in realising TG's $3 trillion GSDP dream
Hyderabad: The Minister for IT & Industries D Sridhar Babu urged UAE industrialists to partner and contribute in achieving the vision of achieving a $3 trillion economy for the State. He formally inaugurated the international investment summit titled 'Investopia Global,' jointly organized by the UAE and Telangana Government at HICC. The Minister noted that the state has devised plans to expand dry ports, multimodal logistics parks, and industrial corridors. Net-zero industrial parks, EV zones, green logistics hubs, the Regional Ring Road (RRR), and Metro Phase–2 will give further boost to industrial development. The Future City being developed to global standards will become a world hub for FinTech, Climate Tech, and Smart Mobility innovation. Telangana is witnessing rapid growth in data centers, Global Capability Centers (GCCs), AI labs, and aerospace clusters. 'Though geographically small, Telangana is a state with grand ambition and strong implementation. In a short span, it has risen like a phoenix and emerged as a model in development and welfare for other states. In 2024–25, Telangana recorded a GSDP growth of 8.2%, which is higher than the national average of 7.6%. Telangana's contribution to the national GDP has exceeded 5%,' he explained. Minister elaborated that over the past 18 months, Telangana attracted over Rs 3.2 lakh crore in fresh investments. In the financial year 2024–25, exports from Telangana to the UAE have increased 2.5 times. Pharma, aerospace, digital services, and food processing sectors have played a crucial role. Prominent UAE-based companies like Lulu Group, DP World, and NAFFCO have already made investments in the state. 'This is not just an investment summit—it is a reunion of old friends and a launchpad for the future. Like the UAE, Telangana values time, trust, and transformation. There are vast opportunities in Telangana across AI, emerging technologies, life sciences, green hydrogen, renewable energy, logistics, warehousing, trade infrastructure, food processing, agro exports, aerospace, defence manufacturing, electric vehicles, smart mobility, tourism, wellness, and medical sectors,' he emphasised. The Minister extended a fresh invitation to UAE industrialists to invest in Telangana. UAE Minister of Economy and Tourism Abdullah Bin Touq Al Marri, Telangana IT and Industries Special Chief Secretary Sanjay Kumar, TSIIC MD K Shashank, UAE Ministry of Investment Under Secretary Mohammed Al Wahaibi, UAE International Investors Council Secretary General Walid Hareb Al Falahi, and Investopia CEO Dr Jean Fares were present.
Hans India
4 days ago
- Politics
- Hans India
CPM alleges ‘massive' scam
Vijayawada: The Communist Party of India (Marxist) – CPM – on Sunday staged a vigorous protest and dharna in Vijayawada, accusing the state's coalition government of a massive scam in the alleged gifting of valuable public land to the Lulu Group. The protest specifically targeted the reported move to hand over the old APSRTC bus stand land in Vijayawada to the large corporate entity. CPM leaders Ch Babu Rao and D Kasi Nath, along with other party members, participated in the agitation, raising slogans against what they termed a 'conspiracy' to privatise RTC and undermine small and medium-scale traders in favour of big corporations. The core of the protest revolves around the alleged allocation of five acres of the old RTC bus stand land, valued at Rs 400 crore, to Lulu Mall. Addressing the gathering, Babu Rao and Kasi Nath sharply criticised the government's actions. 'Betraying the people of Andhra and pledging their lands and public assets to foreign companies is an act of treachery,' they stated. They dismissed the claim that Lulu Mall would create hundreds of jobs, arguing it was 'inhumane' to destroy the livelihoods of thousands of small traders in the process. The CPM also raised concerns about the alleged gifting of a Rs 25 crore municipal land in Brindavan Colony to the Raghavendra Math, stating that 'Vijayawada is gradually being put up for sale.' They questioned if 'wealth creation' meant handing over government and public wealth to foreign corporations. They deemed it illegal for the government to forcefully acquire public land for metro and other public transport systems in Vijayawada, while simultaneously giving away RTC lands at 'dirt-cheap prices' to multinational corporations. They urged the public to mobilise for the protection of public assets and called on the government to reconsider and withdraw its proposals to allocate land to the Lulu Group. CPM leaders Boyi Satyababu, B Ramana Rao, P Krishna, K Durga Rao, and EV Narayana were present.
The Hindu
5 days ago
- Business
- The Hindu
Andhra Pradesh government scouting for suitable land for proposed Lulu mall in Vijayawada
The Abu Dhabi-based Lulu Group has evinced interest in making investments in Vijayawada and Visakhapatnam in the State. The 8th State-level Investment Promotion Board (SIPB) meeting held on July 17 approved the ₹1,222 crore projects, expected to create 1,500 jobs. Officials dealing with the matter said representatives of the Lulu Shopping Malls International Ltd. were supposed to come last month to discuss the finer details of the project in Vijayawada, but the scheduled meeting got postponed. The challenge is to identify land for such projects, which is in short supply within the city limits, while the investors seldom show interest in setting up their projects outside the city purview. The officials propose to show three places to the investing firm to set up the mall—around five acres of land belonging to the A.P. State Road Transport Corporation (APSRTC) at the old bus stand near the police control room, a piece of land belonging to the Endowments Department at Gollapudi, and another parcel of land at Patamata belonging to Andhra Pradesh MARKFED. 'Their requirement is around five acres and all the three proposed places fulfil their need in terms of area,' said an official, adding that the project is at its preliminary level and it is yet to touch the ground. The Lulu Group Chairman M.A. Yusuf Ali, after meeting the Chief Minister N. Chandrababu Naidu in September last year, announced on his X handle that the company will start an international-standard shopping mall with an eight-screen IMAX multiplex in Visakhapatnam and state-of-the-art hypermarkets in Vijayawada with modern food processing and logistics centres. The news of the proposed new facility may have brought cheer to people, especially the youth, in the city, but it has evoked opposition by some quarters. Leaders of the CPI(M) have slammed the government proposal of considering construction of a mall on the lands belonging to the APSRTC, stating that the State should instead focus on strengthening the public transport infrastructure. On Sunday, the State committee of APSRTC Staff and Workers Federation urged the government to withdraw its proposal to allocate the Governorpet depot-2 and old bus stand lands to the multinational company. The federation's State president Ch. Sundarayya and general secretary M. Ayyappa Reddy alleged that as part of the Central Government's policies, the State was handing over RTC lands to private entities. Referring to reports of relocation of the RTC depot, they said around seven years ago, the RTC Transport Academy and Zonal Training College at Gannavaram near the airport were demolished and the land was given to a company owned by Shiv Nadar. The alternative land promised by the government is yet to be allotted to the RTC. They alleged that transfer of public properties to corporate companies at cheap rates was a part of the ploy to privatise the public sector. The federation leaders said they were also opposed to the outsourcing of RTC operations to private players under the Gross Cost Contract (GCC) model and said the government should drop the move.
New Indian Express
5 days ago
- Business
- New Indian Express
RTC opposes APIIC move to allot Governorpet depot land to Lulu Group in Vijayawada
VIJAYAWADA: The Andhra Pradesh Industrial Infrastructure Corporation's (APIIC) proposal to transfer five acres of APSRTC land at the Governorpet-II bus depot in the heart of Vijayawada city to Lulu Group has hit a roadblock with APSRTC officials strongly objecting to the move. After the TDP-led NDA came to power in the State, the UAE-based Lulu Group revived its interest in investing Rs 1,222 crore to establish shopping malls and hypermarkets in Visakhapatnam and Vijayawada. An MoU was signed with the State government, promising to create employment opportunities for nearly 2,000 people in the two cities. In line with this plan, the government recently instructed the Visakhapatnam Metropolitan Region Development Authority (VMRDA) to hand over 13.43 acres of land on Beach Road to APIIC for leasing it to Lulu Group. 'Alternative site not feasible for RTC operations' Subsequently, APIIC had identified the Governorpet-II RTC depot in Vijayawada as a potential site for another commercial venture. Located beside the Ryves Canal, the Governorpet-II depot RTC houses buses from the adjacent Governorpet-I depot, and accommodates administrative offices. APIIC Managing Director Abhishek Kishore has formally requested APSRTC Vice-Chairman and Managing Director Ch Dwaraka Tirumala Rao to allot the land to Lulu Group. However, APSRTC officials have raised red flag. 'We are not in favour of handing over this strategically significant property, currently valued at around Rs 300 crore. The alternative site in Gollapudi is not operationally feasible for us,' a senior official told TNIE on the condition of anonymity. 'Ironically, the proposed site is unsuitable for Lulu Group's commercial operations due to its narrow shape with a canal on one side, and the busy Eluru Road on the other,' sources maintained. Adding to the complexity, a portion of the depot was previously converted into a sculpture park using iron scrap by the Vijayawada Municipal Corporation. Sources indicate that this area could also be bundled into the proposed land allocation. It may be recalled that the Governorpet-II RTC depot once served as the primary bus stand in Vijayawada before the construction of Pandit Nehru Bus Station (PNBS) in 1990 during the reign of the then Chief Minister NT Rama Rao. If APIIC's proposal materialises, the depot will be a thing of history, marking an end of the city's landmarks.
The Hindu
6 days ago
- Business
- The Hindu
CPI (M) opposes government's move to allot RTC land to Lulu Group
The Communist Party of India (Marxist) has strongly opposed the Andhra Pradesh government's proposal to hand over the valuable RTC land in Vijayawada's old bus stand area to the multinational Lulu Group for the construction of a shopping mall. CPI (M) State secretariat member Ch. Babu Rao termed the move 'highly condemnable' and urged the government to immediately withdraw the plan. Addressing a press conference in Sattenapalli of Palnadu district on the occasion of the party's Palnadu district-wide meeting, Mr. Babu Rao criticized the government's proposal to allot RTC land worth over ₹400 crore to the Lulu Group. He described it as a blow to the interests of the public and the RTC, which plays a crucial role in providing affordable transport to the common people. The CPI (M) emphasized that instead of weakening the RTC, the government should be focusing on strengthening the public transport corporation by offering financial support and infrastructure development. Mr. Babu Rao condemned the coalition National Democratic Alliance (NDA) government's policy of transferring valuable public assets to big corporations under the pretext of development, stating that such actions jeopardize public services. The proposed site for the mall already houses two RTC depots and plays a vital role in public transportation. Transferring this land to Lulu Group for a mall would not only disrupt RTC operations but also severely impact public transit in the region. At a time when the government is acquiring land from private individuals for metro and other mass transport projects, handing over government-owned RTC land to private companies is unjust, he said. Mr. Babu Rao accused the ruling coalition of surrendering to the interests of multinational giants by weakening public sector enterprises. He cited examples of large corporations like Reliance, Metro, D-Mart, and Walmart entering the retail sector and displacing small and medium traders. Such developments have led to the closure of numerous small businesses and the loss of livelihoods, he said. The CPI (M) leader urged the government to reconsider its decision and instead use the valuable RTC land for public transport and people-oriented infrastructure. 'If the government proceeds with allocating RTC land to Lulu Group, the CPI (M) will launch a strong public movement in collaboration with city residents,' he warned. 'Let us protect RTC, let us protect small and medium traders.' Mr. Babu Rao concluded by affirming the CPI (M)'s commitment to defending public assets and supporting local enterprises, demanding that the government abandon its pro-corporate agenda in favour of a more inclusive and equitable development model.
