European firms keen to expand footprint in Telangana: KTR
Hyderabad: Telangana IT and Industries minister KT Rama Rao interacted with the members of European Business Group (EBG) in a webinar on Wednesday and asserted that there is a growing interest among European companies to expand their footprint in the State. He further appealed to the EBG members to consider Telangana when they are looking […]
Hyderabad: Telangana IT and Industries minister KT Rama Rao interacted with the members of European Business Group (EBG) in a webinar on Wednesday and asserted that there is a growing interest among European companies to expand their footprint in the State.
He further appealed to the EBG members to consider Telangana when they are looking for new projects in India.
The minister said, “Among the global investments that we have received, it is a fact that the largest chunk has come from US-based companies. We also have sizeable investments from Japan, Korea, China, Taiwan etc. European investments were a few to begin with seven years ago, but of late their numbers are rising significantly. I have interacted with many of the European companies who have a footprint in Telangana, and I can share this with you that all of them are extremely satisfied with their locational choice and are planning to do much more in our State.”
“I do hope that EBG members will spread the good word about us and will consider Telangana as a very appropriate location when they are looking for new projects in India,” he added.
Policy push
Talking about TS-iPASS, the minister said that this policy brings about a number of path breaking reforms that have never been thought of in India before. “There are many salient features in this law relating to self-certification and time-bound guaranteed approvals,” KTR added.
He said that the State government has been according top priority to sectors such as IT, electronics, life sciences (including pharmaceuticals, biotech, and medical devices), defence and aerospace, food processing, textiles, automotive (including electric vehicles), plastics and chemicals, gems and jewellery, retail, and logistics.
Telangana also has the highest industrial land bank in the country, and in that sense, it becomes very easy for the government to identify a suitable land parcel for allotment to the industries, without going through the complexities of a land acquisition process.
KTR further highlighted that the State is power surplus with high-quality power. He also mentioned that high-quality skilled manpower is available for the industries. Telangana also offers multiple non-financial advantages. Being located in the centre of the country, the State offers the best bet for logistics.
“Because of all these reasons, Telangana has become a go-to destination for some of the most marquee names from across the world as well as domestically. I also feel proud to share that more than 24 per cent of our investments come from our existing investors, meaning that these are repeat investments. This obviously shows that our existing investors have found the going to be so good that they are prepared to bring more and more investments into the same State of Telangana instead of looking elsewhere,” said the minister.
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