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Top priority to companies willing to invest in Telangana: KTR

Hyderabad: Telangana government will accord top priority to companies willing to invest in the State, said Industries and IT Minister KT Rama Rao, here on Tuesday.

Speaking at US-India Business Council meeting as part of GES, Rao said, the government’s industrial policy offers flexibility. “If any company wants to invest in India, if you are willing to share details of an offer that other States have made, I will either meet it or beat it. That’s the kind of flexibility I have in my policy,” he said.

Stating that US-India Business Council has been great partner for Telangana, the Minister said over 130 different institutions that have headquarters in the US were working in the State.

All top five companies including Facebook, Apple, Google, Microsoft, Amazon, and Uber have larger presences in Hyderabad, outside the US, he said and added that information technology had been one of the strength of the State.

The Minister said Telangana had been ranked number one in ease of doing business by Department of Industrial Policy and Promotion, and World Bank.

“The reason State was ranked number one is because of institutional changes taken by the government which will have long term impact,” Rao said.

Giving three salient features of the TS-iPass, the Minister said unlike any other State in the country, Telangana government allowed companies for the self-certification besides reposing faith in the investors.

He said new companies would get clearances from the government in stipulated 15 days else on the 16th day it would be deemed approved and bureaucrats would be levied penalty of Rs 1,000 per day till such time they clear.

Rao said that ever since the policy had been announced two and half years ago, the State had attracted investment of Rs1 lakh crore and created over 3,000 jobs besides giving 5,000 clearances.

“More than half of indents that we received have translated and over 50 per cent are in commercial production stage. The State truly believes in benchmarking itself against the best in the world,” Rao said.

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