Hyderabad: Industries Minister KT Rama Rao on Saturday underscored the need for facilitation counsels both at the State and district levels to facilitate any dispute redressal among small and medium entrepreneurs. Speaking at the concluding session during the curtain-raiser and stakeholders’ conclave of International Arbitration and Mediation Centre (IAMC), the Minister said the IAMC would be extremely beneficial to the investor community and the State in terms of attracting more investors.
Moreover, the centre can be beneficial to the Micro Small and Medium Enterprises (MSMEs). “In fact, I keep repeating that mega industries don’t actually need much support from the government compared to small and medium entrepreneurs.” “For this purpose, I would like to emphasis on facilitation counsels both at the State and district levels to facilitate any dispute redressal among small and medium entrepreneurs,” Rama Rao said.
“We can bring about a lot of synergy among small and medium entrepreneurs with facilitation counsels and IAMC,” he said. The IAMC CEO and its office-bearers should start popularising and talk more about the centre and its activities and interact with the Confederation of Indian Industry (CII), Federation of Telangana Chambers of Commerce and Industry (FTCCI), Federation of Indian Chambers of Commerce and Industry (FICCI) and National Association of Software and Service Companies (NASSCOM) among others.
He assured that the State government would stand with IAMC in getting all required support. Expressing gratitude to the Chief Justice of India, Justice NV Ramana for his decision in setting up the IAMC in Hyderabad, Rama Rao said Telangana has emerged as one of the best performing States in terms of industrialisation in the country.
Six months after the formation of Telangana State, Chief Minister K Chandrashekhar Rao, as a priority to carry out much-needed reforms in the industrial sector, conducted a seven-hour long session and directly interacted with several industrial bodies. “After getting feedback, the Chief Minister authorised us to introduce the best industrial policy in the State. After examining the best industrial policies across the world, we finally formulated Telangana State Industrial Project Approval and Self-Certification System (TS-iPASS), a path-breaking industrial policy in November 2014,” Rama Rao said.
Explaining three salient features of TS-iPASS, he said Telangana, according to the Central government and World Bank business rankings, was top in ease of doing business. “Being the Minister of Industries and IT in the last seven years, let me assure you that we have given more than 17,500 clearances for setting up of industries and able to attract of Rs 2.13 lakh crore as investment,” he said. The government was able to create employment opportunities for more than 1.6 million people including direct employment for 16 lakh people.
“We usually focus on ease of doing business but what is equally important also is focus on reducing the cost of doing business and improving the quality of doing business. It’s time for us as a nation to also look at lowering the cost of the business and that is exactly where the IAMC is conceptualised in Hyderabad. It is a welcome move from the industry side,” he said.
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