FIICI ladies Organisation (FLO)Hyderabad, represented by Rekha lahoti, Samia Alam Khan, Vani Subhas, Jyotsna Angara and others called on Telangana Industries Minister Jupally Krishna Rao in his chambers in the Telangana Secretariat on Monday.
The ladies submitted a representation regarding the MOU it had signed with TSIIC in early November, 2014 for land allotment for the lady members to set up Industries as part of Women Entrepreneurship Development Initiative.
A total of 36 members have shown positive response for this project. With representation from apparel, jewellery, Food Processing, Retail furniture accessories, Pharma Instrumentation, and others. Participation in the project will be open to Pan-India members of FICCI FLO to encourage them to set up Industries with substantial investments of over 200 crores and generating employment of over 2000 persons in the next few years for the state of Telangana.
They submitted a representation to make the price of land at an affordable price. They assured that within 24-30 months of handing over possession, their members will begin work on setting up the Industries, as most of their members are top echelons from the professional entrepreneurs and business community of Hyderabad which will bring in diversified industries, and assured that there will not be any defaulters with the backing of FLO.
They stressed that such parks will support the GDP growth of the state and nation.FLO envisions this Park to be a Flagship project and will be replicated as a model in other chapter states.
While recent study conducted in march 2012 stated that women account for only 7.7% of entrepreneurs in India and women in 24-45 yrs age group contemplate entrepreneurship, including first generation.
They requested development cost exemption- approach roads, internal infrastructure within the Park. 50% land cost rebate with minimum upper limit Rs.10lkh. all SC,ST & Women subsidies to be applicable to FLO Members. Exemption of 100% VAT/CST or State Goods and Services Tax (SGST) for minimum 5 years from date of Commencement of commercial production. Seed Capital assistance to 1st Generation entrepreneurs up to a maximum limit of Rs. 15 lakhs per entrepreneur . Rebate on interest paid non term loans to a max cap of 6%.Income Tax exemption for a period of 5 years as special incentive among other grants.
The Minister said he would look into the issue and the government would provide help wherever it was possible as The State wants to encourage women entrepreneurs and that it was part of the Telangana Industrial Policy. (INN)