60% of committed investments grounded in TS

State attracted $21-billion project proposals over the last four-and-a-half years, says Jayesh Ranjan

Published - January 31, 2019 01:13 am IST - HYDERABAD

Industries and IT Secretary Jayesh Ranjan, FICCI president Sandip Somany, former RBI Governor Y.V. Reddy and Apollo Hospitals joint managing director Sangita Reddyat FICCI national executive committee meeting in Hyderabad on Wednesday.

Industries and IT Secretary Jayesh Ranjan, FICCI president Sandip Somany, former RBI Governor Y.V. Reddy and Apollo Hospitals joint managing director Sangita Reddyat FICCI national executive committee meeting in Hyderabad on Wednesday.

Telangana attracted almost $21 billion investment commitments over the last four-and-a-half years, Industries and IT Secretary Jayesh Ranjan said on Wednesday.

“Though this may be less compared to what some other States got, what is remarkable about Telangana is the conversion ratio. More than 60% [of the committed investment] has materialised,” he told the national executive committee meeting of FICCI here.

The remaining investments were also at an advanced level of implementation, the senior official said, pointing out that a stock-taking was undertaken ahead of the Assembly elections. He expressed confidence over conversion ratio being above 95% in a few years.

Attributing the emergence of Telangana as a preferred destination for investment to the measures initiated by the government such as ease of doing business, a system of time-bound approvals and process of self-certification, he said many investments were by companies that already had invested in the State.

The State government, he told the gathering comprising industrialists from across the country, also introduced a system of penalising officials responsible for delay in approvals.

“On seven occasions, it even deducted penalty from officials. “While we have defaulted… the number is miniscule given we have succeeded in 8,500 cases,” he said.

Land bank

Telangana also supported industries by providing them incentives as well as manpower trained by an agency set up by the State government. The State also had the largest industrial land bank, close to 1.50 lakh acres, strategically located, he said, also highlighting the comfortable power supply situation.

Seeking to highlight the time taken for industries to get clearances in some other States, in some cases running to a few months as opposed to 15 days in Telangana, Mr. Ranjan said e-commerce major Amazon, which is setting up a 3 million sq. ft. tech centre near Gachibowli, was given all the approvals in 11 days.

HSIL Ltd, the company behind Hindware brand that had multiple production facilities in the State, has decided to set up a manufacturing unit for water heater. This is to be set up in joint venture with a French firm.

Stating logistics was one of the 14 priority sectors identified for growth by the State government, Mr. Ranjan said the Adani Group and textile major Welspun Group were in the process of setting up a logistics park each near Hyderabad.

Hospitality firm Oyo plans to expand its tech centre in the city, while IBM has raised its headcount from 2,000 to 12,000, besides increasing the number of facilities in the city, he said.

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