Davos: A day after the “Telangana Rising” delegation, led by Chief Minister Revanth Reddy, engaged with global giants Google, Philips and Unilever at the World Economic Forum (WEF) in Switzerland’s snowy Davos, the spree continued for the second day with the state delegates securing investments worth at least Rs 11,500 crore on the second day of the Forum on Wednesday, January 21.
The state delegation received an expression of interest (EOI) from a joint venture between Slovakia-based IQ Capital and India’s Green House Enviro to develop a Rs 6,000 crore Small Modular Reactor (SMR) clean energy project in Telangana.
The joint venture, NUkler Products, submitted the EOI to explore the development of the SMR, with an installed capacity of up to 300 megawatts. The project has a proposed investment value of EUR 600 million (around Rs 6,000 crore).
Chief Minister Revanth Reddy said that Telangana is keen on encouraging sustainable, clean and advanced energy infrastructure projects. “Sustainability is a central pillar to Telangana’s pursuit of a net-zero development target by 2047,” he added.
IQ Capital’s group chairman, Dr Jan Babic, CEO and Director Kumar Bavisetty, along with Green House Enviro CEO and Director Molugu Sripal Reddy, shared the EOI with the Chief Minister during a meeting.
The “Telangana Rising” delegation subsequently signed a memorandum of understanding (MoU) with US-based private equity firm Sagrad, which said it would invest Rs 1,000 crore over the course of three to five years.
The industrial and investment platform expressed interest in exploring a long-term, phased investment and ecosystem development in Telangana.
Sagrad CEO Srinivas Thota met the delegation at the 2026 WEF and discussed various initiative ideas of the company to establish an aviation MRO (maintenance, repair and overhaul) facility in the state, since the company operates across aerospace, defence, automotive and advanced manufacturing sectors.
The state delegation also signed an MoU with Blaize, a company based in California that designs energy-efficient artificial intelligence (AI) hardware.
Blaize’s co-founder and CEO Dinakar Munagala promised support for scaling the company’s research and development (R&D) centre in Hyderabad. The meeting focused on boosting Telangana’s initiatives in electronics, semiconductors, and AI, with the company directly involved in building software for AI-driven data centres.
Blaize has branched out across Asia, strengthening smart cities and industry solutions, including a dedicated R&D centre in Hyderabad. The meeting also focused on ways for the state to help scale the R&D centre.
On signing the MoU, the Chief Minister said that Telangana’s aim to become an AI data centre hub is central to the state’s vision of achieving USD 3 trillion growth over the next two decades.
Telangana IT minister Sridhar Babu also explained the efforts made in launching the “Telangana AI innovation Hub,” the state’s strategic AI nerve centre for driving investments, research and innovation to position Hyderabad as a premier global AI destination.
The meeting also focused on exploring industry use, such as piloting AI solutions for healthcare diagnostics, manufacturing automation, and energy efficiency.
The “Telangana Rising” delegation also met executives from fashion giant L’Oreal, which announced that it will set up its Global Capability Centre (GCC) in Hyderabad that will be inaugurated by November 2026. The L’Oreal facility would be the world’s first GCC in beauty-tech, the Telangana government said.
L’Oréal said it plans to invest Rs 3,500 crore in the GCC.
The Revanth Reddy-led delegation held a meeting with Nicolas Hieronimus, the CEO of L’Oréal, who expressed delight at setting up a large-scale beauty-tech GCC in Hyderabad, with a massive investment, said a press release from the Telangana CM’s office.
“The GCC will serve the world-renowned cosmetics company as a global innovation, technology, data, and supply chain hub. This new facility will support L’Oréal’s digital transformation, AI, and analytics initiatives worldwide, boosting Hyderabad’s growing status as a key centre for global enterprise operations,” it added.
