The Telangana Government is giving final touches to its much talked-about new industrial policy, which will be introduced in the ongoing Budget session of the Assembly. Chief Minister K. Chandrasekhar Rao has said the policy would be unique in the country, as it fixes a specific time-limit for necessary permissions.
In a review meeting held at the Secretariat on Wednesday, the Chief Minister told officials that the world was going through an ‘investments phase’, where capital would flow to wherever there is a proper eco-system.
“Attracting investors means developing the State as industrialisation will lead to economic growth and employment generation,” Mr. Rao said.
Advisor to Government (Industries) B.V. Papa Rao, Chief Secretary Rajiv Sharma, Special Chief Secretary (Industries) K. Pradeep Chandra, Managing Director of Telangana State Industrial Infrastructure Corporation and Principal Secretary (CMO) S. Narsing Rao participated in the meeting to fine-tune the draft of the new industrial policy bill.
The Chief Minister underscored the fact that there were many organisations and governments of countries interested in making huge investments in places where they could get returns and it was time Telangana made use of such opportunities.
Stating that Telangana had several attractions such as suitable weather conditions, the availability of land at comparatively lower prices and huge human resources, Mr. Rao noted that a good industrial policy would complement such facilities.
As part of the new policy’s preparation, the Chief Minister and other officials concerned studied the policies of several countries and several States in India and visited Singapore. Investors across regions were looking at Telangana as it was not prone to natural calamities like cyclones and others. He reiterated that the new industrial policy would be among the best in the world.
The new policy would not only simplify the process of permissions but would also fix specific time-limits in which they would be cleared, he stated.
