Continuity of Government policies is important, says KTR

Telangana government would be launching the world’s largest pharma cluster at Mucherla shortly, said KT Rama Rao

Hyderabad: Industries Minister KT Rama Rao stressed that for industrial growth in a State, continuity of government polices was extremely important.

When an industry was set up in one government, there would be expectations that whatever promises were made by that particular government would be kept by the succeeding government, irrespective of their political affiliations, overall strategies and views, he said.

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“Governments and institutions are permanent though leaders, who head the government might change,” Rama Rao said at FTCCI Excellence Awards presentation ceremony here on Monday.

Apart from IT and pharma, Telangana focused a lot of life sciences sector and emerged as a formidable force not only in the country but in the world. Telangana was home to world’s largest number of USFDA approved manufacturing units with 214 and the second largest was New Jersey with 189, he said.

India’s largest medical devices park was set up at Sultanpur. It houses 60 units, including world’s largest stent manufacturing unit. Telangana government would be launching the world’s largest pharma cluster at Mucherla shortly, the Minister said.

Chief Minister K Chandrashekhar Rao firmly believes that India, especially Telangana should compete with large manufacturing countries like United States and China. There was a need to compete at scale as it would usher in economic growth, he said, adding that India imports 78 percent of medical devices, 80 percent of edible oil and Active Pharmaceutical Ingredients.

“When industrialists declare Telangana as bright spot of India, it feels good. But as an Indian it feels bad, when we import a lot of things from different countries,” Rama Rao said.

Telangana should not confine being a bright spot but it should also show the path to other States as to how business on a global scale should be done. To achieve this, FTCCI needs to thinks big and dream big, he said.

The Minister emphasized on the need for industries in the State to compete at global level. The next generation entrepreneurs should be prepared to take on the world and to make world class products. Competing with other States in the country would not suffice and there was a need to make a mark on global stage, he said.

“When Hyderabad-based young entrepreneurs are launching satellites and conquering new avenues, experienced industrialists should groom their companies to take on the big companies in the world,” Rama Rao said.

Capital was not a constraint anymore, governments were willing to support companies, if their ideas and products had potential, he added.