‘American Companies Now Choosing Hyderabad over Bengaluru’: U.S. Consul General Katherine B HaddaMarch 23, 2019 17:22
(Image source from: New Indian Express)
The United States companies, for the most part, are choosing Hyderabad over Bengaluru to set up shop because in Hyderabad real estate is inexpensive, trade investment policies are favorable, and ease of doing business is greater, the United States Consul General Katherine B Hadda told the Indian Express on Friday.
Hadda acclaimed the two Telugu-speaking states - Andhra Pradesh and Telangana - as the best in the country in attracting investments from foreign firms.
“I see a lot of companies expanding their footprint in Hyderabad. And what I am told - even though there are more companies in Bengaluru - a lot of these companies are preferring to either open up operations or expand here in Hyderabad rather than in Bengaluru, because real estate is much cheaper here, because the trade investment policies are open and helpful.
“You have a situation of presupposed approvals here - that if a company does not hear from the government with questions, or saying that they cannot invest here, then the investment is presumed to be approved in 15-30 days. In Andhra Pradesh, the situation is similar,” Hadda told Indian Express.
Hadda’s term of office as Consul General is set to end later this year.
She conceded that the situation of the Indo-U.S. trade relationship was “not positive” in the country. “What we are seeing now are developments that we see considerably less positive - national government’s economic policy vis-a-vis our economic interests. There have been more restrictions placed on our e-commerce companies like Walmart that invested in Flipkart.
“What we find is, especially the atmosphere in Telangana and Andhra Pradesh, is open and fair-minded. Once the elections are over, we would highlight what we consider the best practices,” Hadda was quoted as saying by Indian Express.
She also said the Embassy sends inputs on the economic/political scenario and the sector-wise analysis of the industry in the States where the Consulate is based, back to the United States. “We have the foreign commercial services to analyze a certain sector and what the situation they are in. However, we will never make a recommendation to companies and ask them where to invest,” the Consul General said, adding that the department only “supports” American companies wanting to invest in the country.
By Sowmya Sangam