Hyderabad Telangana

Telangana has emerged as investment destination: KTR

Telangana has emerged as investment destination: KTR

Industries Minister K. Tarakarama Rao on Saturday stated that the Telangana State has emerged as the most favourite investment destination in the country.

Speaking after releasing the annual reports on Industries & Commerce and Mining Departments here, KTR informed that the State Government has cleared 131 proposals under TS-iPass which would get an investment of Rs. 10,866 crore and provide direct employment to 23,342 persons. He said so far, 338 proposals have been cleared under the new industrial policy which would provide 86,275 direct jobs and draw Rs. 35,925 crore worth investment.

KTR said that the State Government has not confined the industrialisation process to Hyderabad or its outskirts. He said as many as 1,792 investment proposals have been approved at districts’ level. This will get investments of Rs. 2800 crore and provide direct jobs to 34,935 people. He said that the Telangana would soon get a new Food Processing Park and a Seed Park. He said Telangana has maintained its lead in aero-space and defence manufacturing. Informing that a global investment summit has been planned next year, he said that the State Government would provide additional incentives to the mega investors.

The minister said that the government would promote sector-focussed parks, ensure minimum inspections and provide maximum felicitation.

KTR informed that the Sand Mining has fetched revenue of Rs. 2,774 crore during 2015-16 which is the highest in Southern states. The government aims to earn Rs. 4,000 crore through sand mining during 2016-17. He said State Government has eliminated the middlemen from the sale of sand and also reduced its rates. As against the rate of Rs. 2200-2400 per tonne in the past, sand is now available for Rs. 1100-1200 per tonne. He said that the government would promote rock sand at a larger scale. (INN)