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Hyderabad News.US based Small and Medium Enterprise Consortium (SMEC) to invest over Rs 1,500 crore in Hyderabad

Hyderabad News. DC 02.06.2010


(Excl Ventures News.)The US-based Small and Medium Enterprise Consortium (SMEC) will invest over Rs 1,500 crore in Hyderabad, according to the minister for IT and communications, Mr Komatireddy Venkata Reddy, who is currently touring the US.

He appealed to the NRI business community to consolidate their overseas operations in Hyderabad and make it their destination city for IT and ITES needs.





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In response, the companies have said they were keen to invest Rs 1,500 crore in a phased manner.

Several proposals were discussed during the meeting including the setting up of an incubation centre with immediate effect followed by development of a self- sustaining campus. About 4,000 youth are likely to get jobs with the business expansion plans of SMEC. Mr Venkata Reddy assured full support from the government.




Comment :

The minister is touring US and this is what he has to show?!!    Conduct professional road shows and the State can bring in 10  times from NRI investors... The performance of the Govt with regard to new invetments in Hyderabad has been PATHETIC.  (Bangalore is set to hog lime light over the next few days with the Global Investor Meet due to take place there. AP Govt  would have casued AP public as well as AP NRIs  to hang their head in shame, when investment  numbers roll out from Bangalore)

Keyword Tags Hyderabad News,SMEC, SMEC Hyderabad
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