KTR rolls out red carpet for South Korean films

Participating in a virtual conference organised by India Korea Business Forum, the Minister gave an overview of the progressive industrial policy of Telangana State and termed it as the best in the country.

Hyderabad: IT and Industries Minister KT Rama Rao on Wednesday said Telangana State was keen on attracting investments from South Korean companies in a big way and was willing to set up an exclusive cluster for them. He offered complete assistance to interested companies and also explained that several multi-national companies were making massive investments in the State taking advantage of its hugely popular industrial policy.

Participating in a virtual conference organised by India Korea Business Forum, the Minister gave an overview of the progressive industrial policy of Telangana State and termed it as the best in the country. “The State has a marquee industrial policy – TS-iPASS – which has earned international repute and has attracted more than US Dollar 30 billion in investments to the State over the last six years,” he said.

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“Several multi-national companies including South Korea’s textile major Youngone have come forward to invest in the State, while the State government has also entered into a Memorandum of Understanding with the Medical Devices Park located in Gwangju in South Korea to exchange knowledge with them. Similarly, auto major Hyundai is also expanding its operations in the State. We are ready to roll out the red carpet for investors from South Korea,” he said.

The Minister explained that the State government was ready to establish an exclusive cluster for South Korean firms if they were keen on establishing their companies. Establishment of such exclusive industrial cluster for Korean companies will enable the authorities to provide all facilities required for them, he said, and urged the Ambassadors of both India and South Korea to extend their support to the State in this regard by facilitating visits from South Korean investors to Telangana State.

Further, Rama Rao explained that the State not only had a steady leadership, but was also rich in terms of both raw materials and human resources. He said while industries need not worry about water, electricity and other resources, the State government was even willing to assist in recruitment of qualified manpower by providing them with necessary training in the required sector.

Principal Secretary for IT and Industries Jayesh Ranjan was also present.

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