Telangana has become a go-to destination for investments, says KTR

Hyderabad: Information Technology and Industries Minister KT Rama Rao on Wednesday informed about the reforms brought out by the government to attract investments and also about the TSiPASS to the European Business Group (EBG).

Explaining the TSiPASS to the EBG in a webinar, Rao said that this policy brought about a number of path-breaking reforms that were never been thought of in the country. There are many salient features in this law relating to self-certification and time-bound guaranteed approvals, he said. The Minister said that the State government was giving top priority to sectors including IT, electronics, life sciences including pharmaceutical, biotech and medical devices, defence and aerospace, food processing, textiles, automotive including EV, plastics and chemicals, gems and jewellery, retail and logistics.

He also stated that Telangana also has the highest industrial land bank in the country, and in that sense, it becomes very easy for the government to identify a suitable land parcel for allotment to the industries, without going through the complexities of a land acquisition process.

The Minister highlighted that the State was power surplus with high-quality power. He also mentioned that high-quality skilled manpower was available for the industries. "Telangana also offers multiple non-financial advantages. Being located in the centre of the country, we offer the best bet for logistics. Because of all these reasons, Telangana has become a go-to destination for some of the most marquee names from across the world as well as domestically.

I also feel proud to share that more than 24 per cent of our investments come from our existing investors, meaning that these are repeat investments. This obviously shows that our existing investors have found the going to be so good that they are prepared to bring more and more investments into the same state of Telangana instead of looking elsewhere," said the Minister.

Rao also said that among the global investments that the State received, it is a fact that the largest chunk has come from US-based companies. "We also have sizeable investments from Japan, Korea, China, Taiwan etc. European investments were a few to begin with seven years ago, but of late their numbers are rising significantly.

I have interacted with many of the European companies who have a footprint in Telangana, and I can share this with you that all of them are extremely satisfied with their locational choice and are planning to do much more in our state. I do hope that EBG members will spread the good word about us and will consider Telangana as a very appropriate location when they are looking for new projects in India," he said.