Eric Swider, who is widely described as being instrumental in taking public the ‘Truth Social.’ The social media platform that is used by US President Donald Trump, was in Hyderabad on Monday. In an impassionate address at ‘Telangana Rising Global Summit’ in Hyderabad, Eric Swider, director Trump Media & Technology Group, emphasising the importance of freedom of speech and the raison d’etre for the Truth Social platform, he described India as a country that will continue to rise.
Eric Swider praises Telangana for opening new opportunities to global investors
To the delight of the Telangana chief minister A Revanth Reddy, Swider had a huge praise for the state of Telangana and its
efforts at opening up new opportunities to global investors. He began by saying: “Lot of people know me from one of the recent transactions that I have completed. That was bringing public Truth Social, the platform, which, as many of you would know, has US president Donald J Trump as its largest shareholder.”
He went on to explain the travail that the company faced and the factors that led to the creation of the Truth Social platform, he said, as a single father of two children for twenty years, he was very keen that his children had a future “where there was a platform where they would be free to say what and when they wanted to say anything because freedom of expression is a fundamental right of every human being.” He then went on to talk about India and the changed perception about the country and the technology prowess of its people.
“If you go back 20 years from an outsiders’ perspective, sitting on the other side of the world in United States, if you talked India twenty years ago in technology perspective, it was the place where the call centre was located.” But, “as you move forward in time and you look at who is developing the technology and who is working in major technology companies around the world you cannot help but notice a lot of talent coming out of India.” Today, “you would be blind not to see that the technology capitalists around the world are coming from India. India is on the rise and I don’t think India is going to stop. I think India will continue to be on the rise in the world of technology,” he said. Therefore, “I think it is important that we find ways to invest together and to work together. So, I am very excited to be here to invest here and I would like the chief minister to know that over the next ten years invest upto Rs 1 lakh crore in the Hyderabad future city here and I am grateful for this opportunity.
Swider on what drives investment
Explaining the rationale behind the investment, he said, investments were typically guided by three reasons: 1, the financial returns- while many would expect one reason to be financial returns. It is important but is not the only reason for us. 2, Any place that I am going to spend my time to deploy our capital and it has got to be meaningful, not just to me but to the world and can make a long-term difference to the world.
The third factor that drives investments, which is true for all capital around the world, it will, like water, will flow to the easiest place it can find to flow to. “So, when you are looking to make an investment you look for a place where you know it will be best received. What I have seen here (in Hyderabad, the capital of the state of Telangana), is a chief minister A Revanth Reddy who made it absolutely clear that our capital will be welcomed here and that he is open for business and that this is the place that is on the rise.”
