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Trump Media and Technology Group Director Eric Swider announced on Monday, December 8, that firms he represents plan to invest Rs 1 lakh crore in the upcoming Bharat Future City in Telangana over the next 10 years. The state government, on the other hand, has said that Trump Media plans to anchor a USD 5 billion foreign direct investment initiative in Telangana.
He made the announcement during the inauguration of Telangana Rising Global Summit at Bharat Future City near Hyderabad on Monday.
A day before the summit began, the Telangana government proposed to name the road leading to the US Consulate General building in Hyderabad after United States President Donald Trump. Government officials said that the high-profile road along the US Consulate General is set to be called 'Donald Trump Avenue'.
Trump Media operates Truth Social, the social media platform used by Donald Trump.
According to the Telangana government, under this partnership, Trump Media and Technology Group will anchor a USD 5 billion foreign direct investment initiative in Telangana.
“The investment will focus on the development of next-generation physical, smart and intelligent cities, integrating secure digital infrastructure, AI-enabled governance systems, immersive media technologies, and future-ready urban services,” a statement from the Chief Minister’s Office said.
The India engagement for this initiative will be jointly undertaken with Rubidex and Renatus Advisors, with Raju Kanumuri serving as the India Partner for the Telangana Rising Fund.
Chief Minister Revanth Reddy said that Telangana is building a new model of technology-driven urban growth, and the association with Trump Media & Technology Group adds significant momentum to the state’s ambition of creating “globally benchmarked cities of the future.”
Eric Swinder was all praise for the vision of Chief Minister A Revanth Reddy who has planned Bharat Future City as the greenfield city, which promises to be a net-zero and smart urban space.
“The three reasons anyone invests are capital, creating meaningful impact, and the ability to make a difference. Investment is well received here because Telangana is a place on the rise, with a clear vision from Chief Minister Mr Revanth Reddy,” said Eric Swider.
“India will lead the world in technology in the near future, and I’m excited to invest in Telangana. My next 10 years of investment will go into the future city of Telangana, he said.
The announcement came amid the continuing criticism of Prime Minister Narendra Modi by the Congress party and its leader, Rahul Gandhi, over the repeated claims by Donald Trump that he brokered peace between India and Pakistan.
Last week, Congress general secretary in charge of communications, Jairam Ramesh, claimed that US Secretary of State Marco Rubio was the first person to announce the abrupt stoppage of Operation Sindoor.
"Subsequently, President Trump himself has made the claim at least 61 times in 6 different countries that it was due to his intervention that Operation Sindoor was halted," Jairam Ramesh said.
With IANS inputs