Hyderabad: Telangana IT and Industries Minister KT Rama Rao at a webinar on Wednesday, spoke with the members of European Business Group and discussed how the state has transformed into a worthy investment destination.
Speaking about the Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS), KTR said that the policy brings about a number of path breaking reforms, that have gone amiss in India so far.
He said that the state government has been giving top priority to sectors include 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 and have been identifying land parcels for the same.
KTR remarked that the state government’s outlook coupled with the power surplus adds to Telangana becoming the 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% 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,” he added.
Speaking about the sizable investments from Japan, USA, Korea, China and other countries, KTR stated that all the countries are satisfied with their location choices and plan on investing more in the 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 concluded.