Hyderabad, Jan 14 (IANS): Telangana IT and Industries Minister K.T. Rama Rao will lead a delegation from the state to the World Economic Forum, which will be held in Davos, Switzerland from January 16 to 20.

The delegation will depart from Hyderabad on January 14 and reach Zurich the next day. They will then proceed to Davos by road.

This is the fifth time that the state business delegation is going to WEF, Davos. Telangana state had sent a delegation to WEF, Davos, for the first time in 2018, followed by 2019, 2020 and 2022.

The global summit of business and political leaders generally happens in January. But due to Covid wave, the 2022 event was held in May. The 2023 World Economic Forum is happening under the theme 'Cooperation in a Fragmented World'.

The alpine resort town of Davos, which is at an altitude of 1,560 metres above sea level, is all decked up to host the prestigious annual summit.

World Economic Forum President Borge Brende in his invitation to KTR, wrote: "Your leadership in transforming Telangana into a leading technology powerhouse is noteworthy."

Apart from participating in various sessions at the WEF, KTR will be meeting top leadership of several global marquee companies at the Telangana Pavilion setup in Davos.

The Minister will also be participating in industry round-tables organised on the sidelines of the WEF.

With an ultimate aim to showcase Telangana as an investment destination for global firms and to create more employment opportunities for Telangana youth in the private sector, he will spell out the progressive and industry friendly policies of Telangana government.

Telangana delegation's previous trips to the WEF were highly successful and fetched huge investments resulting in large scale job creation for local youth. Several investments are expected to be clinched during this year as well, said a statement from the minister's office.