Telangana government, as part of its measures to promote the State as an ideal destination to investors, has formed thrust teams of officers to focus on facilitating investments from different regions and countries, including India.
Three teams have been constituted by the government for investment promotion and getting companies from China, Taiwan, South Korea and Japan; Canada, Mexico and the Western countries; and the country and the Gulf to invest, an order of the Industries & Commerce Department said.
Thursday’s GO comes in the backdrop of the State deputing teams abroad in the recent months to woo investors as well as foreign delegations visiting Telangana to explore business opportunities. Behind these visits is also the industrial policy unveiled by the State with a focus on according time bound clearance, zero tolerance to corruption and making it a hassle free process for industrialists.
The immediate provocation for the thrust team, however, seems to be delegation Chief Minister K. Chandrasekhar Rao led to China last month. The team met a large number of business delegations and industry bodies as well representatives of companies. “A strong interest by these companies to invest in India was noticed. A similar potential exists in South Korea, Taiwan, Japan in East Asia; Canada, Mexico and countries such as France and Germany in the West; and Israel, West Asia and India itself,” the GO said.
The emphasis of the State government is on creating institutional mechanisms by setting up region/country specific desk to help covert the interest into investments. Officers in the thrust team on overseas regional/country desk have been tasked with interacting with local business organisations and manufacturing associations to identify sectors/companies looking to invest. They would be required to contact such companies and brief them about the State’s industrial policy.
