In a significant boost to Telangana’s industrial growth ambitions, leading Indian industrial conglomerate Rashmi Group has signed a Memorandum of Understanding (MoU) with the Telangana government to invest Rs 12,500 crore in setting up a large-scale steel production unit in the state. The agreement was formalised during the World Economic Forum (WEF) 2026 in Davos, where the ‘Telangana Rising’ delegation, led by Chief Minister A. Revanth Reddy, held high-level discussions with the company’s leadership. Rashmi Group promoter Sajjan Kumar Patwari and Director Sanjib Kumar Patwari met the Telangana delegation and expressed the company’s readiness to establish the steel manufacturing facility. The proposed project is expected to generate nearly 12,000 direct and indirect employment opportunities, making it one of the largest industrial investments secured by Telangana in recent years.
Established in 1966, Rashmi Group is globally recognised for its ductile iron (DI) pipes, which are widely used in water supply and sanitation infrastructure projects. The company exports to over 40 countries across Asia, Europe, the Middle East, Africa and the Americas.
Chief Minister A. Revanth Reddy congratulated Industries Minister D. Sridhar Babu for securing the major investment, stating that the MoU reflects growing global confidence in Telangana’s investor-friendly ecosystem and progressive industrial policies. He assured the company of full government support, including speedy clearances and infrastructure assistance.