Assocham comes up with 10-point agenda for TS growth

Underlines the need for creating infrastructure and industrial clusters outside Hyderabad for balanced progress

Hyderabad: The Associated Chambers of Commerce and Industry of India (Assocham) on came out with a 10-point agenda for the faster development of new Telangana state in the industrial and other spaces. Infrastructure sector development outside Hyderabad, creation of industrial clusters across the state and effective tapping of abundant mineral resources are some of the suggestions the premier industrial body has made for the industrial growth of Telangana.

Releasing a strategy paper titled ‘Realising growth potential of Telangana’ collated by the industry body, D S Rawat, its Secretary-General, said: “Telangana is endowed with abundant mineral and other natural resources. It can become one of the top five states in the country if the government brings out world class industrial policy and taps all the resources available”.

The strategy paper suggested that Telangana government should focus on infrastructure development, agriculture and food processing, dairy industry, solar parks, affordable finance to MSMEs, tourism, biotechnology, power sector, employment generation and human resource development.

“Telangana has a well-established and matured economy. The tradeoff between equity and efficiency issues has been affecting the region in the past. But the State has the potential to achieve double digit growth,” the paper explained. The industry body has already submitted the strategy paper to the Chief Minister and other ministers of Telangana government. “Telangana needs to focus on a strategy of using the public investment exclusively for development of primary sectors and private investments for industry and services,” Rawat stated.

According to him, Telangana, as of June 30, 2014, has total live investments worth nearly Rs 3.3 lakh crore with real estate, services, power, irrigation and manufacturing sectors accounting for 99 per cent of these investments. The State has a surplus budget of Rs 3,555 crore for the current fiscal.

He called upon the Telangana government to remove archaic and complex laws that had been hampering growth of industrial sector. “There are 97 laws that govern the industries. Besides, every industrial unit has to cope with 75 different inspecting authorities. These need to be simplified,” he maintained.

Pointing out that Centre had promised two universities, power projects totaling 4000 MW and others during the bifurcation process, he urged the Chief Minister to aggressively pursue with the central government to implement the promises so the new state would embark on a path of progress at faster pace.

Ravindra Sannareddy, Chairman, Southern Region Development Council, Assocham, said the new industrial policy being formulated by the Telangana should be of world class calibre. “This is being a new State, it is possible for the government to bring out a best policy to make a good start,” he said.