Hyderabad: Telangana Industries Minister KT Rama Rao encouraged the industrialists in the state to think big and create products of the highest calibre as he welcomed Daifuku Company Limited’s investment of Rs 450 crore in Telangana.
The Telangana government and the Daifuku Company, which offers automated material handling technology and solutions, signed an agreement regarding the same.
In Telangana, the business is establishing a new production facility.
Its current facility at Pashamylaram, which is 60,000 square feet, will be supplemented by the new factory, which has a size of more than 200,000 square feet.
The new facility, which is most likely to be built near Chandanvelly, is expected to cost Rs. 200 crore in its initial phase, and Daifuku intends to make it operational within the next 18 months.
In his remarks, KTR noted that land was a pricey good and urged industrialists to be more inventive and create new inventions.
“Capital access was a big challenge in the past. It is no more a challenge now with government extending all support. Indian entrepreneurs need to be more bold and aggressive” Rama Rao said.
The Minister urged industrialists to compete by expanding their operations and establishing large parks in the State, using the industrial park at Dandumalkapur as an example.
“We need to pole vault and outpace others. Apart from hitec and smart manufacturing, there should be emphasis on basic manufacturing” he said.
The Minister emphasised the need to concentrate more on the manufacturing sector, saying India must complete all of its growth and development in the sector in 10 years, as opposed to the United States, which completed it in 30 years, and China, which completed it in 25 years.
The Minister recalled his recent meeting with Procter and Gamble and expressed his desire for the corporation to partner with IIT Basara to introduce apprenticeship programmes. He continued that both the institution and the company will benefit from it.
The Minister recalled his recent meeting with Procter and Gamble and expressed his desire for the corporation to partner with IIT Basara to introduce apprenticeship programmes. He continued that both the institution and the company will benefit from it.
According to Srinivas Garimella of Daifuku’s Indian subsidiary, Vega Conveyors and Automation Private Limited, the company’s expansion, which will include technology transfer from Japan, will not only help us anticipate our localization plans but will also quicken our product development pipeline in India.
