As it competes with Bengaluru in attracting investments, the Telangana government has proposed cluster-based development, developing the area between the Outer Ring Road (ORR) and the upcoming Regional Ring Road (RRR).
Asking the industry to take part in the development programme, Telangana Industries and IT Minister D Sridhar Babu said that the government would develop agro-based industries beyond the RRR, which is aimed at connecting the hinterland with the capital and decongest the capital of inbound capital.
Addressing a CII conference on infrastructure and real estate on Thursday, he asked the industry to come out with suggestions to the government as it finalised the Budget for 2024-25.
focus on expansion
Sreekanth Reddy, Managing Director of Cushman and Wakefield, has said that Hyderabad had immense potential to become a good investment destination.
Though it has only half of Bengaluru’s 200 million sq ft space for the IT industry, he wanted the government to focus on developing new corridors. “It is focussed only in 10-15 km. It should focus on expanding beyond,” he said.
“Bengaluru is able to attract talent because of the social infrastructure including weekend getaways. The proposed Musi River Front project will help Hyderabad’s development momentum for the next 15-20 years,” he said.
CII (Telangana) Chairman C Shekar Reddy too backed this proposal. “Some of the top cities in the world are known for the tourist attractions around their water bodies,” he said.