Minister KTR interacted with European Business Group
IT and Industries Minister KTR spoke at a webinar with the members of European Business Group on Wednesday. Talking about TSiPASS, KTR said that this policy brings about a number of pathbreaking reforms, that have never before been thought of in our country.
“There are many salient features in this law relating to self certification and time bound guaranteed approvals,” he added.
KTR 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.
KTR also stated that Telangana also has the highest industrial land bank in the country, and in that sense, it becomes very easy for the government to identify a suitable land parcel for allotment to the industries, without going through the complexities of a land acquisition process.
KTR highlighted that the State is power surplus with high-quality power. He also mentioned that high-quality skilled manpower is available for the industries.
Telangana also offers multiple non-financial advantages. Being located in the centre of the country, we offer the best bet for logistics, said KTR.
“Because of all these reasons, Telangana has become a 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,” said KTR.
KTR also said that among the global investments that we have received, it is a fact that the largest chunk has come from US-based companies. We also have sizeable investments from Japan, Korea, China, Taiwan etc. European investments were a few to begin with seven years ago, but of late their numbers are rising significantly. I have interacted with many of the european companies who have a footprint in Telangana, and I can share this with you that all of them are extremely satisfied with their locational choice and are planning to do much more in our 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.