US-based Sargad signs MOU with Telangana, to invest Rs 1,000 Cr over 3-5 years

Davos [Switzerland], January 21 (ANI): US-based operator-led industrial and investment platform Sargad has came forward to explore a long-term, phased investment and ecosystem-development initiative in Telangana, with an indicative investment scale of up to Rs 1,000 crore over a three to five-year period. The company's founder and CEO, Srinivas Thota, met the 'Telangana Rising' delegation at WEF 2026.
The company has experience across aerospace, defence, automotive, and advanced manufacturing sectors, focused on long-cycle, certification-driven, export-oriented industrial businesses. During the meeting, Sargad expressed interest in establishing an aviation MRO (Maintenance, Repair, and Overhaul) facility in the State.
Telangana Chief Minister A Revanth Reddy explained that the State is creating three distinct economic zones -- CURE (Core Urban Region Economy) for the services sector only, with Net Zero, PURE (Peri-Urban Region Economy) for manufacturing, and RARE (Rural Agri Region Economy) for agriculture and green economy. Telangana, he said is establishing two airports -- one each in Warangal and Adilabad -- and asked the company to explore an MRO in either of the places.
The Chief Minister offered to provide the best possible incentives to encourage industrialisation in Warangal and Adilabad.
Minister D Sridhar Babu deliberated on potential opportunities for Telangana's MSMEs in equipment manufacturing.
Revenue Minister Ponguleti Srinivasa Reddy was also part of the delegation which participated in the meeting.
The World Economic Forum's Annual Meeting 2026 is being held in Davos, Switzerland, under the theme of A Spirit of Dialogue. Davos 2026 is one of the highest-level gatherings in the Annual Meeting's history. (ANI)