Industries Minister K Tarakarama Rao attended a few important business meeting in Kuala Lumpur.
KTR met Malaysian Minister for Infrastructure Dato Seri S Samy Vellu in Kuala Lumpur and discussed the opportunities in manufacturing, electronics, IT and automobile areas in Telangana. He took them through various schemes of Telangana and future planning.
The Malaysian Government has expressed its interest in talking up two bed room scheme. KTR invited him officially to Telangana to study the areas of mutual cooperation in trade relations. He requested the Malaysian minister to take up a dedicated industrial park in Telangana for Malaysian companies.
KTR also met ASEAN India business council today afternoon. The Minister, in his opening remarks, explained in detail all about Telangana and the strengths the state has sector wise and based on some of the most unique features of its policy aimed at attracting investments in manufacturing, services, IT, Electronics and Pharma sectors. He emphasised that action is in the state and Telangana will do anything what’s required to encourage new investments in the state. The minister informed that the state, with an intention to promote trade and investments, will open 6 country desk offices.
Chairman ASEAN India Business Council of Dato’ Sri Ramesh requested that one of the country desk offices can be set up in Malaysia. Dato’ Sri Ramesh’s suggestion of making Telangana into a hub to encourage investors from ASEAN is welcome. This will take care of distribution requirements within India.
Further, KTR assured that Telangana State will provide all assistance and hand holding required for setting up JVs with Indian companies. He informed that a portal will be set up shortly listing out all possible SMEs who are looking for JV partners. The link of this portal shall be provided to all the delegates present today and to all High Commissions/Indian Embassies. Regarding the issue to have guidelines on LEDs, the Minister requested if any existing guidelines in this sector can be shared and the state will come out with its own operational guidelines.
HDRF (Human Development Resource Fund) is there in Malaysia to promote skill development and empowerment and Cos above certain threshold have to contribute in this fund as a cess for training purposes. KTR informed that Telangana also has TASK on similar lines. KLRCA (Regional Centre for Arbitration) where arbitration can be taken up on international arbitration formats. (INN)