Team Telangana gets more investments from the US.

Medtronic PLC said it would invest over $350 million (roughly Rs.3000 crore) to set up its Engineering and Innovation centre in Hyderabad. This was another big investment in Telangana.

The media and entertainment company Warner Bros. Discovery announced its plans for Hyderabad on Wednesday. On Thursday, Medtronic PLC, a global leader in healthcare technology based in Dublin, said it would invest over $350 million (roughly Rs.3000 crore) to expand the Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad.

Ocugen Inc., a big name in biotechnology in the United States, also announced plans for a research and development centre in Telangana. This centre will focus on developing vaccines and cutting-edge therapies like regenerative cell therapy and gene therapy that change genes. Medtronic announced its leaders, including Mike Marinaro, Executive Vice President and President (Surgical), met with IT and Industries Minister KT Rama Rao, who is in New York as part of an ongoing business tour of the United States. The Medtronic investment builds on an earlier investment of $160 million in MEIC in 2020. Over the next five years, it is expected that MEIC will go from having 800 employees, most of whom are engineers, to having over 1500 employees.