Telangana Chief Minister K. Chandrasekhar Rao on Wednesday announced that Samsung had plans to invest $100 million in the State.
He said this to highlight how with the improved power situation, more companies were evincing an interest to invest in the State. Hyderabad, he added, had “large scope” to play host to the electronic hardware industry.
The Chief Minister, inaugurating the Rs.250 crore expansion project of Mahindra group’s automotive division here, said a couple of Ministers from his Cabinet would hold discussions with Samsung soon. He said tyre manufacturer MRF also planned to make a large investment in the State. Promising his government’s support to the industry, he said, “Telangana has overcome power cuts … the supply is not erratic and there is no load shedding.”
Giving a call to the industry to “invest more, produce more and grow with Telangana”, he also said the State was on course to supply required, quality power round the clock.
On simplifying processes, he said a legislation, TS-IPass, makes it mandatory to provide clearances to new industrial units within 15 days of the application having been passed by the State. The system will be implemented shortly, he added.
Expressing hope that Mahindra would further expand operations in Telangana, he said on its request, the State Government, as a special case, 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. The Chief Minister asked Mahindra & Mahindra Ltd executive director Pawan Goenka to provide employment to local youths. “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 the local youth,” he said.
Responding to Zaheerabad Congress MLA J. Geeta Reddy, who spoke before him, Mr. Rao accused the Chief Ministers of united Andhra Pradesh of neglecting Telangana. Mr. Goenka said the company endeavoured to provide jobs to locals, subject to their possessing the required qualification. As many as 95 per cent of those employed in the plant are from Telangana, he added.
