Industries and IT Minister K.T. Rama Rao said the challenge to the Telangana government now was to retain its top ranking in the ease of doing business (EoDB) by sustaining the efforts that have been put in so far and to take up new initiatives for improving upon the delivery systems more and more.
Speaking at an interactive session on the initiatives of the Telangana government on EoDB with the trade and industry stakeholders here on Saturday, he said the steps taken for ease of getting into business by entrepreneurs and investors was not the only criteria to stay atop, but also allowing ease of business to the existing industries.
He said it was not the government or its officials who were the brand ambassadors of attracting investments, but those who were already doing business here, since it was their word of mouth that was more powerful in attracting investments. “We know there’s something we need to be doing more and the government likes to build on the efforts already made and see what more can be done for EoDB,” Mr. Rama Rao said.
The Minister invited suggestions from the gathering of industry and trade bodies such as CII, FICCI, DICCI, FTAPCCI, TIF and sector-wise industry associations on lowering the cost of doing business and improving its quality.
Stating that it was small and medium enterprises (SMEs) that needed more support from the government and banks, the Minister noted that he had represented twice to the Reserve Bank of India (RBI) on the indiscriminate use of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act by banks against defaulting industries very early. Giving an example, Mr. Rama Rao said the properties of a rice mill in Jammikunta were attached by the financing bank within 15 days of serving notice against defaulting in repayment of loan availed.
He emphasised on the need to prevent the industrial units from falling into incipient sickness. He also launched the revamped web portal of TSiPASS and new incentives/subsidy modules on the occasion.
Principal Secretary Jayesh Ranjan, Commissioner of Industries Ahmed Nadeem and others attended. Later, several representatives of the industry and trade raised problems being faced by them, mostly not related to the EoDB.
