Entrepreneurship culture will create jobs: KTR

Hyderabad: Entrepreneurship culture is missing in many parts of the country while it is celebrated in Gujarat. This trait brings investments and also creates employment opportunities, IT and Industries Minister KT Rama Rao said on Saturday. “Being an entrepreneur is not easy in India. Wealth creation is seen with suspicion. Many link the success of […]

Hyderabad: Entrepreneurship culture is missing in many parts of the country while it is celebrated in Gujarat. This trait brings investments and also creates employment opportunities, IT and Industries Minister KT Rama Rao said on Saturday.

“Being an entrepreneur is not easy in India. Wealth creation is seen with suspicion. Many link the success of entrepreneurs to the proximity of some influential persons or accuse them of bending rules. In Gujarat, entrepreneurship is encouraged early on,” he said.

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China and India’s GDP was the same in 1987 — $470 billion. After 35 years, China’s GDP is about $16 trillion, while India’s is about $3 trillion. “India did not grow like China because entrepreneurship was not encouraged. This has to be changed. There needs to be a cultural shift to celebrate entrepreneurship,” he said.

Unveiling the visitor registration app for PlastIndia 2023 — an international exhibition, conference and convention of the plastic industry — on Saturday, he urged the plastic industry players to consider Telangana for setting up new operations or expanding. Telangana has already set up a Plastic Park at Thummaluru in Ranga Reddy district in 110 acres and 150 companies are part of it. Of them, 102 have commenced operations and another 25 are under construction. The total investment is Rs 847 crore and it has created direct and indirect employment of 5,000 each.

The State has about 15,000 plastic units, mostly SMEs. The industry turnover is about Rs 7,500 crore and the State is home to brands such as Supreme, Vijay Neha and Sudhakar. Newage companies such as Ganesha Ecosphere and Kundana Techno Tex are investing over Rs 400 crore each to recycle PET bottles, he said.

On the ban on single-use plastic, he said the State is with the Centre on this. However, the ban can be complete only when there is a viable substitute as the number of users is vast across segments. Though Gujarat banned alcohol with a good intention, spurious liquor claimed lives of 42 people recently, he said, stressing the need to have a comprehensive view of an issue.

Rama Rao urged Jigish Doshi, president of Plastindia Foundation and chief of Gujarat-based Vishaka Group (makers of flexible packaging film, bins, crates, drip irrigation systems and pipes, and agricultural and industrial films) to invest in Telangana. It had recently invested in West Bengal.

“West Bengal is a good destination. You should be present in the east. You should also be present in Telangana, which is central India,” Rama Rao said, adding that India is diverse and by choosing Telangana as the gateway to the country would define the experience of doing business.

Telangana is open for business, it is business-friendly and the government dealing is also business-like, he said, citing the instance of the State sending a chartered flight to Kerala to get Kitex Garments MD Sabu Jacob to visit. Though he came with no intent to invest, Jacob announced to invest Rs 1,000 crore in Telangana on the same day of his visit. In about a month, he returned to announce another Rs 1,400-crore investment. Now, Telangana is in talks for a third unit as well in the State, he said.

The PlastIndia exhibition will be held from February 1 to 5 at Pragati Maidan in New Delhi.

Industries Principal Secretary Jayesh Ranjan, Telangana and Andhra Pradesh Plastics Manufacturers Association president Vimlesh Gupta, PlastIndia National Executive Council chairman Ajay Shah and others were present.