Telangana Chief Minister K. Chandrasekhar Rao on Wednesday said Korean electronics major Samsung is planning a major investment in the State. “The investment is likely to be around $100 million”, he said. A couple of his ministers will have discussion with Samsung shortly.
Mr. Rao was speaking after inaugurating the Rs.250-crore expansion project of Mahindra group's automotive division in Zaheerabad that has doubled the vehicle production capacity.
Highlighting the pro-industry initiatives of his Government, including promise of all approvals within a fortnight, he said that Hyderabad has “large scope” to play host to electronic hardware industry.
Telangana, he declared while inviting investors, has overcome power cuts and there were no load sheddings. “Expand your industry, there are not going to be any power cuts”, he asserted.
The State is on course to supply required, quality power round the clock, he added. On approvals for industry, he said that the TS-IPass legislation assuring clearances within 15 days for all projects will be implemented shortly.
“We are here to support industry, invest more, produce more and grow with Telangana,” he said.
Expressing a hope that Mahindra will further expand, he said that on a request from the company, as a special case the State Government has reduced the input VAT (value added tax) from 14.5 per cent to 5 per cent. An order to this effect was issued on Tuesday.
Mr.Rao, responding to Zaheerabad Congress MLA and former Industry Minister J. Geeta Reddy, who spoke before him, said that the previous Andhra Pradesh Chief Ministers had neglected Telangana and its development.
Urging Mahindra & Mahindra Ltd. executive director Pawan Goenka to provide employment to local youths, the Chief Minister said: “Telangana was born after a lot of struggle and sacrifice. We have given you land, water, power and are ready to give you whatever you want. Please give jobs to local youth.”
Mr. Rao said that he was aware of the issues plaguing the area and planned to come on a two-day programme soon with officials to western parts of Medak.
