Telangana to host global investor summit in 2017

2,130 industrial proposals were approved after 10 months of launching TS-IPASS.

Sharath Chowdary

The Telangana government is preparing to host an investor summit in Hyderabad early next year to attract investments from all over the world, Telangana IT and Industries Minister K T Rama Rao told The Dollar Business Bureau.

Speaking to the media after the release of the State Department of Industries and Commerce annual report in Hyderabad on Saturday, the minister said that the government wants to associate with all major industry bodies of the state and country to organise the investors’meet. The minister also released the annual report of Department of Mines and Geology.

Telangana and particularly the city of Hyderabad have been in the news for attracting some of the prestigious projects in the country. 25 projects have been cleared with over all investment of Rs.2,374 crore. These projects can provide job opportunities to 5,799 people.

Swedish firm Ikea’s Rs.685.5-crore retail store, GVK Biosciences’ Rs.300-crore R&D facility, Vivimed Labs Rs.140-crore project and Alpla India’s Rs.129 crore packaging unit are some of the important projects that have been committed to invest in and around Hyderabad.

The commitment of these huge investment projects has been possible due to the transparent policies, time bound approvals, pro-active governance and clean administration of the state government.

The minister said, “Telangana has become an attractive investment destination in India. After 10 months of introducing the Telangana State Industrial Project Approval and Self-certification System (TS-IPASS), more than 2,130 industrial proposals have been approved by the government. Only under the Mining Department, 131 proposals have been approved that will attract an investment of Rs.10,866 crore and offer employment to 23,342 people.”

“With the Chief Minister K Chandrasekhar Rao’s vision to decentralise the development, the state government has not restricted industrialisation to the surroundings of Hyderabad only. 1,792 investment proposals have been approved in districts with an investment potential of Rs.2800 crore and 34,935 job opportunities. The government would also offer incentives to the huge investors in the state,” KTR said.

The minister further said, “The state government will encourage setting up of sector specific parks. Already we are leading the way in aerospace and defence manufacturing. We are soon coming up with a new Food Processing Park and Seed Park. While establishing these parks, the government aims to have minimum inspection and maximum felicitation.”

While speaking about the efforts of the government towards environment friendly mining in the state, he said, “Though the government had earned huge revenues in sand mining, we are promoting the usage of rock sand in construction. We are planning to fill the quarries after completion of sand mining and take up plantation.”

“Online sand booking has reduced almost 50% of the cost from Rs.2,200 per tonne to Rs.1,100 per tonne. The government has earned sand revenues of Rs.2,774 crore in FY 2015-16, the highest in South India. We have set a target to fetch Rs.4,000 crore sand revenues in this fiscal year,” he added.

Telangana Industries Principal Secretary Arvind Kumar, Commissioner of Industries K Manicka Raj, Telangana State Mineral Development Corporation Managing Director Illambarthi and Director of Mines B R V Susheel Kumar were also present during the event.