Investors our partners in growth story: KTR
Says Telangana was the first State in India to offer self-certification by industry
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Hyderabad: Telangana Minister for Municipal Administration KT Rama Rao on Friday said that investors are not just economic investors for the State but they are our partners in growth story.
He highlighted at the Public Affairs Forum of India (PAFI)'s eighth National Forum, held virtually that Telangana was the first state in India to offer self-certification by industry. It has the largest land banks for industrial infrastructure corporation for the state of Telangana spanning across 200 thousand acre.
The state promises 24x7 high quality power, is the second largest renewable energy producer in the country and through Mission Bhagiratha it has been able to connect one million households through tap water, the minister said.
Promising prospective investors' quality human resource, Mr. Rao mentioned that through Telangana Academy for Skill and Knowledge (TASK) the state provides skillset to the manpower at its cost as it wants to see locals as employees, he added.
KTR said, where other states have come up with local reservation, Telangana has flipped the policy by giving usual incentives as per industrial policy but additional incentives on capital subsidy, power, and SGST etc. will be given on hiring of locals.
Telangana has prioritised 14 sectors i.e. IT, electronics, life sciences, biotech, pharmaceuticals, medical devices, defence, aerospace, food processing, textiles, automotive including electric vehicles, plastics and chemicals, gems and jewellery, retail, logistics among others thus welcoming investment of many kinds, he further added.
Jayesh Ranjan, Telangana Principal Secretary Industries & Commerce (I&C) said, "In the last seven to eight months, the state has taken big ticket investments. American EV manufacturer Triton, for instance, has decided to make a big investment of Rs 2,200 crore with the state seeing the stability, perfect law and order and transparency the state offers. Another Korean winterwear manufacturing company, Youngone Corporation, is soon setting up eight factories."
Dilip Chenoy, Secretary General, FICCI said, "The state has focused on women entrepreneurs, has setup industrial parks and the strategy and plans that the minister has in place is very effective. Industry sees in the minister a champion in the cause. Irrespective of the challenges, the minister has always found solutions."
