Hyderabad, Nov 11 : Telangana’s Industry and Information Technology Minister K. T. Rama Rao on Wednesday invited South Korean companies to invest in the state, assuring them all assistance.
He said that Telangana will set up a Korea Industrial Park exclusively for the South Korean companies which come to Telangana.
The minister virtually participated in the India-Korea Business Forum meeting. Officials from the Indian Embassy and the South Korean Embassy along with industrialists from South Korea participated in the session.
KTR, as the minister is popularly known, noted that Telangana enjoyed a successful relationship with several reputed Korean organizations.
“The Government of Telangana will provide complete assistance to the South Korean industries who come forward to invest in Telangana,” he said while interacting with the industry heads.
KTR stated that Telangana has its unique and progressive industrial policy in the form of Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS). He also mentioned that this policy has been attracting major investments to Telangana and is appreciated by various industry leaders across the globe.
He revealed that about $30 billion investment has come to Telangana since TS-iPASS came into functioning.
The minister said that YoungOne, a Korean company, has come forward to invest in Telangana. He also mentioned that the state government had entered into a partnership with South Korea’s Gangwon Techno Park (GWTP) for technology and cluster cooperation in the space of med-tech devices.
He also mentioned that Hyundai India set-up their only state-of-the-art R&D Center in Hyderabad which is the largest Hyundai R&D centre outside Seoul.
Highlighting that Telangana has a stable government and all other natural resources suitable for setting up industries such as availability of water and uninterrupted supply of electricity, KTR also stated that it will provide training to the local youth at its own cost to provide skilled labour to the Korean companies which come forward to invest in Telangana.
Disclaimer: This story is auto-generated from IANS service.